Are Write-Off's Eating Your Profit?

While working with clients, I’ve noticed several mistakes being made while posting insurance checks. I know this is easy to do because the EOB’s are becoming more and more difficult to interpret what needs to be written off.

My recommendation is to get outside eyes to audit your write-offs, whether it be a practice management consultant or someone specifically trained in insurance contracts that understands how the write-offs work. Have them do an internal audit on your insurance adjustments frequently to make sure you are not over adjusting.

How often should you do this? I make my recommendations specific to each practice, but a good guideline would be:

• If an internal audit shows no mistakes, then you will not need to do this often.

• If several mistakes are found, you should continue the auditing process frequently until you know your team member fully understands when to adjust and when the patient needs to pay the difference.

Being a PPO Provider means you are already accepting a reduced fee for your services. It’s very important your team is properly trained on when to write things off and when the difference needs to be passed to the patient.

If you would like more information about working with KP Consulting to reach your full practice potential, contact us today at contact@kristinpelletier.com to schedule a complimentary consultation.