Occupational Therapy Billing Services
Are you looking for a stable and efficient way to manage your practice’s occupational health billing needs? Look no further than our HIPAA and OSHA-compliant occupational therapy billing services. We provide comprehensive solutions to address complex billing and coding requirements, thereby reducing chances of claims denials and maximizing reimbursement.
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How We Help Streamline Occupational Health Billing for Your Practice
We are home to Certified Professional Coders (CPC) and Certified Professional Billers (CPB) who understand every aspect of charge capture to billing and claims to payment processing and follow-up. Backed by advanced billing technologies, our team leverages their expertise to make billing more streamlined, accurate, and on-time. Our expertise yielded the desired revenue results for occupational health providers specializing in pre-employment medical examinations, drug and alcohol testing, medical surveillance, ergonomic assessments, immunizations, injury management and rehabilitation, and more. Here is how we will do it for you:
- Harness digital capabilities like EDI, EHR, EMR, and PMS to digitize workflows facilitating timely and accurate electronic claims submission.
- Ensure all patient information (patient demographic details, medical records, insurance provider information, coverage details, effective date, expiration date, etc.) is accurate and up-to-date.
- Determine pre-authorization needs and process subsequent documentation summarizing the medical necessity of services, seeking the payer’s approval.
- Align with the payment guidelines and fee schedules of different insurance payers, including government agencies (Medicare & Medicaid), employer-sponsored health plans, self-insured employers, and private insurance companies like Aetna, Cigna, and Humana.
- Stay informed about the latest coding updates in ICD-10, CPT, E/M, HCPCS, modifiers, and revenue codes. Our occupational billing specialists are well-versed in the latest CMS and AMA guidelines and are certified by the American Academy of Professional Coders (AAPC).
- Adhere to the pertinent regulatory requirements while filing claims for occupational health billing models such as capitation billing, fee-for-service billing, episode-of-care billing, etc.
- Examine the Explanation of Benefits (EOB) statement from the insurance provider to review reimbursement discrepancies, address any issues, and assist in the appeals procedure when necessary.
- Analyze EOBs to get a clarity on premiums, coverage durations, deductibles, and co-payments for subscribers, policyholders, and additional beneficiaries.
Our Comprehensive Occupational Therapy Billing Outsourcing Services
- Insurance verification and authorization
- Coding and billing for occupational health services
- Claims submission and follow-up
- Electronic payments processing
- Accounts receivable management
- Denial management and appeals
- Patient billing and collections
- Accounts receivables (A/R) management
- Revenue cycle management
- Financial reporting and analysis
- Customized reporting and analytics
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Finance and Accounting Tools We Specialize In
Local Client Testimonials
During your consultation, some of the issues we can discuss are:
- Your current occupational health billing procedures and how the processes can be improved.
- Our experience and how we met the unique occupational health billing needs of various healthcare providers
- How we make our occupational health billing services 100% compliant with HIPAA and OSHA regulations
- How we verify and manage pre-authorization, explanation of benefits (EOB), and fee schedule with insurance payers to ensure claims pass at the clearinghouse.
Why Choose Invensis as your Occupational Therapy Billing Services?
We are a seasoned occupational health billing service provider with over 24 years of experience in providing comprehensive billing services. Our end-to-end billing solutions cater to corporate health programs, government agencies, third-party workers’ compensation insurance administrators, employee assistance programs (EAP) providers, occupational health clinics, industrial companies with in-house medical facilities, and more. We have an experienced team of certified coders, billers, revenue cycle managers, accounts receivable specialists, compliance officers, and others. Together, we aided clients to witness a reduction in A/R days to 45, an estimated 98% clean claims rate (CCR), less than 8% claims denials benchmark, and about a 95% net collection rate (NCR).
Benefits of Occupational Health Billing Services
- Accurate Billing:
Accurate billing is crucial in the healthcare industry to ensure timely reimbursement, minimize claim denials, and maintain financial stability. However, managing the billing process can be complex and time-consuming. But, outsourcing to a third-party occupational therapy billing company can remove the burden by improving the efficiency and accuracy of bills.
Invensis can help you ensure accurate billing and optimize your revenue cycle management. Our occupational medicine billing team of experienced professionals can accurately code and submit claims, verify insurance information, and follow up with insurance companies to ensure timely reimbursement. We use the latest technology and industry best practices to identify and correct billing errors, minimize claim denials, and improve cash flow management. - Increased Revenue:
Effective revenue management is essential for the success of any occupational health practice. However, managing the billing process can be time-consuming, and any errors can result in claim denials and lost revenue. Outsourcing your occupational therapy billing services to a trusted third-party provider can help you increase revenue and streamline your revenue cycle management.
At Invensis, we have experienced occupational medicine billing professionals who can accurately code and submit claims, identify and correct billing errors, and follow up with insurance companies to ensure timely reimbursement. Our occupational health medical billing services optimize your revenue cycle management and increase your bottom line. - Reduced Administrative Burden:
Managing administrative tasks and paperwork related to occupational therapy can be a significant burden. Outsourcing administrative tasks to a trusted third-party occupational medicine billing services provider can reduce administrative burden and free up your time to focus on patient care.
Outsourcing occupational therapy medical billing services to Invensis can help reduce the burden of handling tasks such as patient registration, appointment scheduling, and insurance verification. Our commitment to accuracy and efficiency means you can trust us to handle your billing tasks with care and attention to detail, ensuring that your operations run smoothly and efficiently. - Enhanced Reporting:
In healthcare, accurate and timely reporting is essential to drive informed decision-making and improve patient outcomes. However, generating reports can be time-consuming and challenging, especially when dealing with vast data. But, an outsourcing company can easily handle the task as they possess the required expertise and resources for effective reporting.
Invensis can help you enhance reporting and gain valuable insights into your healthcare operations. By partnering with Invensis for occupational therapy billing services, you can benefit from our expertise in healthcare reporting services. Our experienced professionals can collect, analyze, and interpret data to provide meaningful insights into your operations.
Trends in Occupational Health Billing
- Value-Based Care:
There is a growing emphasis on value-based care in healthcare, which focuses on delivering high-quality care at a reasonable cost. This approach will likely influence occupational health billing, as providers may be incentivized to focus on preventive care and early intervention to avoid more costly treatments. We at Invensis follow this trend with the help of AI and automation. Our services are focused on quality rather than the number of services offered. - Electronic Health Records (EHRs):
EHRs are becoming increasingly common in occupational health. They help providers to streamline their billing and administrative processes. EHRs also allow providers to easily share patient information with other healthcare professionals, which can improve care coordination and outcomes. Our occupational therapy billing services are designed to easily integrate with the EHRs maintained by providers to increase efficiency and collaboration. - Medical Coding Updates:
Medical coding is a crucial aspect of occupational health billing. It ensures that providers are reimbursed correctly for the services they provide. There are regular updates to the medical coding system, such as the transition to ICD-10 in 2015, which providers must keep up with to ensure accurate billing. At Invensis, we deliver occupational health billing services that are always updated to the current billing practices and comply with most latest regulations.
What Our Customers Say
We have been working with Invensis for the past two years, and they have helped us overcome many revenue cycle management challenges. The team often walks the extra mile to ensure that our needs are met.
Invensis has been our revenue cycle management healthcare outsourcing partner for the past 5 years. They have always delivered on their commitments, whether it is meeting our Service Level Agreement (SLA) or improving our billing process.
Invensis has been a great partner providing quality medical coding and billing services. The team is extremely responsive to every query we pose, and the turn-around time for deliverables is always as committed.
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