A well-rounded billing system is key to improving the financial health of your optometry practice. But to build such a productive and efficient billing system, it is important for you to first have a clear understanding of various optometry billing concepts. This can enable you to make the right decisions and drive high profits for your practice on a consistent basis.
Before you start billing for your optometry services, you need to have knowledge about the correct usage of medical insurance, vision plans as well as the ABN form. To speed up and simplify the billing process, optometry providers should also automate their basic billing functions. Another important task is to verify if the provider is properly credentialed and enrolled before carrying out the billing activities.
Check out 6 of the most significant optometry billing prerequisites that play a crucial role in propelling your practice’s profitability.
Medical Insurance vs Vision Plans – Know When To Bill What
A number of patients have both – medical insurance as well as vision plan coverage. When such patients receive healthcare services from you, it can be difficult to choose which of the two plans to bill – vision plans or medical insurance. But to make that decision, it is first important to identify the exact medical signs and symptoms that medical insurance covers and to know that visual plans are only for routine eye examinations.
Confirm Whether the Provider is In-network
One of the most important steps in optometry billing is to verify whether the provider has been credentialed and enrolled by insurance payers as well as the Council for Affordable Quality Healthcare (CAQH). The billing staff also needs to regularly follow up with the insurance payers to check the optometry credentialing and enrollment status of the provider. If the credentialing or enrollment process is not carried out properly, providers may fail to get reimbursements for the services they offer.