One in Five Medical Claims Are Processed Inaccurately - What You Can Do

ChiroCode Alerts

by LaMont Leavitt - CEO, ChiroCode Institute, Inc.

July 20, 2010

One in Five Medical Claims Are Processed Inaccurately - What You Can Do
Adjusting More than One Extremity
July 22: How the New Federal Healthcare Law Affects Chiropractors
July 29: How a Strong Evidence-Based Report of Findings Will Increase New Patient Referrals, Retention, and Collections
The Ten Biggest Mistakes Experts Make During Depositions
Differential Diagnosis and Management for the Chiropractor
2010 & 2011 ChiroCode DeskBook Combo

One in Five Medical Claims Are Processed Inaccurately - What You Can Do 

One in five medical claims are processed inaccurately by the nation's commercial health insurers, according to the AMA's third annual Health Insurance Report Card. The report reveals:

• 1 out of 5 claims are processed incorrectly by health insurance companies
• More than $777 million in unnecessary administrative costs could be saved if health insurers could improve claims processing accuracy by just 1%
• Increasing claims processing accuracy to 100% would save US healthcare costs up to $15.5 billion annually
• Physicians spend as much as 14% of their revenue to ensure they receive proper payments from insurers

Click here to read more about the AMA's 2010 report

ChiroCode Institute Constant Tom Necela, DC suggests three quick tangible actions to take:

1. Pay Attention! If 1 in 5 claims are processed incorrectly, odds are that yours will be among them sooner or later. You need to track your reimbursements to ensure that you are being correctly paid.  Without this, you will allow insurance companies to slowly extract the profits from your pockets to theirs.
2. Do the Math on ROI Externally: Not all insurance companies are worth the time or effort give the number of hoops they require you to jump through and/or their pitiful fee schedules. Sometimes, you just have to do the hard math and give them the boot.
3. Demand ROI Internally: Knowing that the average doc spends 14% of revenues trying to bring in the money, as a business owner you should be acutely aware of where your billing service/department stands as a revenue generator.

Click here to read more of Tom Necela's comments

Adjusting More than One Extremity

Question: In regards to code 98943 for extraspinal adjustments, when adjusting more than one extremity per visit, how is that coded? Do I list one code with three units, or as three different diagnoses with one unit each?

Click here to read the answer

July 22: How the New Federal Healthcare Law Affects Chiropractors 

ChiroCode Thursday Webinar: July 22, 2010
Time: 4 pm Eastern, 3 pm Central, 2 pm Mountain, 1 pm Pacific

Presented by Jason B. Martin, Esquire

Compliance Programs are no longer recommended, Federal law now REQUIRES that each chiropractor implement a Compliance Program containing "core elements." In this webinar, attorney Jason B. Martin will discuss changes to laws that every chirorpactor must know.

Click here to reserve your webinar seat now
Click here to learn more about this webinar

July 29: How a Strong Evidence-Based Report of Findings Will Increase New Patient Referrals, Retention, and Collections 

ChiroCode Thursday Webinar: July 29, 2010
Time: 4 pm Eastern, 3 pm Central, 2 pm Mountain, 1 pm Pacific

Presented by Ronald J. Farabaugh, DC

As you know, insurance companies are becoming increasingly stingy in authorizing care for our patients. By implementing a system of patient education, beginning with a very strong Evidence-Based Report of Findings, that is consistent with the current literature and efficient case management protocols, you can continue to grow a strong and health practice and minimize the effects of profit-driven insurance company policies.  

Click here to reserve your webinar seat
Click here to learn more about this webinar

The Ten Biggest Mistakes Experts Make During Depositions 

In the June 17 ChiroCode webinar, The Ten Biggest Mistakes Experts Make During Depositions, Bob Honigsfeld, DC, shared what he has learned from his experience as an expert witness testimony over the past 34 years.

After giving a solid explanation of what depositions are and what a new doctor might expect when participating in one, Dr. Hongisfeld presented strategies for preparing for and billing for depositions. His list of mistakes include:

1. Experts often fail to obtain an in-depth meeting with counsel who has retained them.
2. Experts attempt to hide damaging documents and notes by removing them from their file. This is a serious logical and strategic mistake

Click here to view this webinar and to learn how to avoid the other eight mistakes.

Differential Diagnosis and Management for the Chiropractor - only $109 (save $25)

By Thomas A. Souza

The updated Fourth Edition of this best-selling reference is a compendium of evidence-based approaches to the most common presenting complaints.  

Click here to learn more and to purchase

Enter promo code JL56

2010 & 2011 ChiroCode DeskBook Combo - Get free shipping on both books

By the ChiroCode Institute

Receive the 2010 ChiroCode DeskBook immediately to help you through the rest of the year, and then receive the 2011 ChiroCode DeskBook in January!

Click here to learn more and to purchase.

Enter promo code CC11