We are fast approaching the end of January and the point in the New Year when the majority of people's New Year's resolutions have already failed. This is, however, the time for renewed efforts to focus one's resources on achieving the desired goal. There are two keys to reaching your goals:
1. View your failures (i.e., I have not flossed in two days) as minor set backs and not as utter failure (i.e., I might as well start saving for dentures); and
2. Break your goal down into manageable pieces (i.e., I will lose 2 pounds in January; 2 lbs in February versus I will lose 25 pounds this year).
These ideas do not only apply to personal goals, but to business goals as well. If you are trying to improve your medical collections in 2009, you should build upon these concepts. So, given these two points what is the best way to achieve a New Year's resolution of improving your medical billing? The best place to start is with the goal of getting your claims out the door clean. This is a great starting point because it does many wonderful things:
- It focuses you on the most critical aspect of billing. If the claims go out the door clean you will find that all of the rest of the challenges start to become much more manageable;
- This goal can be easily broken down into smaller goals such as "I will improve my acceptance rate by 2% per month or I will implement a claim scrubber by the end of March;
- This goal has many ways in which failure provides powerful learning opportunities. You can set aside time to analyze rejected claims to determine the source of the rejection and then focus on eliminating the problem area.
- It lends itself to technology aids. Invest in a scrubber that will help you find coding problems before you submit the claims. Invest in insurance verification tools that will make it easier to have clean demographics. Invest in coding tools that will help improve your data entry performance.
So, as we approach the end of January this is the time to double down:
- Determine where you stand today (what percentage of your claims get paid on the first submission);
- Set your medical billing goals high (96% of all claims will be paid on first submission);
- Break them down into bite size pieces (I will improve clean claim submissions by 2% each month), and
- Create a plan for how you will learn from rejected claims.
This approach and focus can allow your medical billing efforts to reach new standards of excellence in 2009.
Copyright 2009 by Carl Mays II - 26221
1. View your failures (i.e., I have not flossed in two days) as minor set backs and not as utter failure (i.e., I might as well start saving for dentures); and
2. Break your goal down into manageable pieces (i.e., I will lose 2 pounds in January; 2 lbs in February versus I will lose 25 pounds this year).
These ideas do not only apply to personal goals, but to business goals as well. If you are trying to improve your medical collections in 2009, you should build upon these concepts. So, given these two points what is the best way to achieve a New Year's resolution of improving your medical billing? The best place to start is with the goal of getting your claims out the door clean. This is a great starting point because it does many wonderful things:
- It focuses you on the most critical aspect of billing. If the claims go out the door clean you will find that all of the rest of the challenges start to become much more manageable;
- This goal can be easily broken down into smaller goals such as "I will improve my acceptance rate by 2% per month or I will implement a claim scrubber by the end of March;
- This goal has many ways in which failure provides powerful learning opportunities. You can set aside time to analyze rejected claims to determine the source of the rejection and then focus on eliminating the problem area.
- It lends itself to technology aids. Invest in a scrubber that will help you find coding problems before you submit the claims. Invest in insurance verification tools that will make it easier to have clean demographics. Invest in coding tools that will help improve your data entry performance.
So, as we approach the end of January this is the time to double down:
- Determine where you stand today (what percentage of your claims get paid on the first submission);
- Set your medical billing goals high (96% of all claims will be paid on first submission);
- Break them down into bite size pieces (I will improve clean claim submissions by 2% each month), and
- Create a plan for how you will learn from rejected claims.
This approach and focus can allow your medical billing efforts to reach new standards of excellence in 2009.
Copyright 2009 by Carl Mays II - 26221
About the Author:
You can read more about the best practices of medical billing companies by going to the ClaimCare Medical Billing Services Blog. read about achieving personal and business success by visiting MyMerlin.net the on-line mentoring site.
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