Physicians Practice “Billing: Billing Problems? Consider Your Charge Ticket”
Are you charging for every service you perform? If your practice is like most, the answer is probably no. Unlike every other industry — in which businesses do not make a habit of giving away their products — medical practices routinely provide services for free.
Do you realize that approximately one-fourth of all medical practice income is lost due to underpricing, undercoding, missed charges, or unreimbursed claims? Hundreds of millions of dollars is lost annually due to medical billing errors. Physicians and staff are consistently attending seminars just to stay on top of coding and regulatory issues, but are you paying attention to your billing? As much as 3 percent to 5 percent of annual practice revenue is lost because the practice simply did not bill for services and procedures that the physicians performed.