Podiatrists are experts in resolving foot and ankle complications, but managing the financial side of their practices can be difficult without the right tools or team to do so. For podiatrists, billing involves complexities that are specific to foot and ankle care, and some unique challenges result from that fact. 

A Step Above Health Management Systems has been at the forefront of simplifying podiatric billing for some time now, so we’ve gathered plenty of helpful info along the way. For this post, we’re going to draw on that data and provide you with some of the most common obstacles we see DPMs facing these days, plus a few helpful hints for managing each one. 

The Coding Maze

• Accurate documentation and submitting insurance claims are only part of the puzzle.
• Podiatry billing relies on specific coding systems (CPT and ICD) that are constantly revised.
• Using the wrong codes leads to claim denials, reimbursement delays, and financial harm.

Stay Updated and Get Automated

• Consistent training that keeps staff abreast of the latest coding updates is vital.
• Software featuring automated code updates can minimize non-compliance errors.

Insurance Verification and Pre-Authorization Hurdles

• Confirming patient insurance coverage and acquiring pre-authorization for procedures is often time-consuming and complex.
• When it’s not handled efficiently, costly delays are sure to follow. 

Boost Efficiency and Use Tech

• Automated verification systems rapidly confirm insurance details and pre-authorization needs.
• This reduces delays and inefficiency for your practice and enhances the patient’s experience. 

Accurate Documentation and Complete Compliance

• Incomplete or inconsistent documentation could result in claim denials and compliance headaches.
• In the current regulatory environment, sticking closely to healthcare guidelines is crucial to avoiding significant penalties.

Standardize and Automate

• Standardized practices for record-keeping and podiatry-specific Electronic Health Records (EHR) systems will improve documentation accuracy. 
• Standardization also accelerates smooth incorporation with existing billing processes. 
• Consistent internal audits can detect and resolve documentation gaps, confirming compliance with industry standards.

Costs and Communication

• Poor communication concerning financial responsibility might cause confusion or even lead to billing disputes.
• Patients might not be aware of all the information pertinent to their insurance coverage or potential out-of-pocket costs.
• Unsatisfied patients upset about discrepancies or disputes can damage your practice’s reputation.

Solution: Prioritize Transparency

• Honest, clear conversations with patients are essential. 
• They must be made aware of financial obligations in a prompt and professional manner.
• Offering upfront assessments of estimated costs and providing flexible payment options increases patient satisfaction and streamlines the billing process simultaneously. 

Podiatry practices have plenty to do without worrying about billing complications and insurance-related issues. We hope the blog above helps you focus on the patient outcomes that matter most!

We can help you avoid billing errors. A Step Above Health Management Systems provides specialized podiatric medical billing services to clients nationwide. Let our firm provide your practice with a plan customized to manage all your billing needs. Please call us at (877) 448-6233 to learn how our solution can save you money and help streamline your billing process.