PracticaBilling is dedicated to helping private practitioners manage their billing at peak efficiency. To that end, we offer a variety of practice management tools designed specifically for mental health professionals.
Statistics and experience show turnaround on paper insurance claims to be 30, 60 even 90 days or longer, creating serious outstanding receivables for your practice. By submitting claims electronically, PracticaBilling can generally have money in your hands within 14-18 days.
There is a 30% suspension/rejection rate for paper insurance claims. This does not mean that the claims are never paid. What it does mean is that you must haggle with insurance carriers over payment. With PracticaBilling, careful attention is applied to every electronic claim processed, reducing errors to for all practical purposes to 0%. If something goes wrong with your claim at the payer level, we handle it in-house.
The insurance application process can be daunting and time consuming but well worth it, especially if you are now starting out or you find that you need to secure alternatives to your dwindling pool of out-of-pocket patients.
PracticaBilling will fill out, submit and track insurance panel and credentialing applications for you. The timeline from submission to approval can take up to 6 months - PracticaBilling will take on the task of seeing the application through to the end. Once approved, you will have access to a dedicated referral source and your income will grow.
Many professionals are not sure how to effectively pursue outstanding patient accounts. PracticaBilling understands how critical it is to protect the helping relationships you have developed with your patients. We send out letters only with your authorization.
Our Collections Lite letters for overdue payments do not harass. They gently remind. Be assured that polite payment reminders to patients from a neutral billing company are very effective in enhancing receivables. They let patients know a third party is tracking balances, reducing the risk that billing matters will interfere in clinical relationships.