4 Ways to Increase Your Sleep Study Billing Collections

Almost 50 million Americans are suffering from sleep disorders and the sleep study market size was estimated to be worth US $ 6754.2 million by 2024. The sleep study specialists are focusing on high quality services. At the same time, the sleep study billing requirements are skyrocketing.

Along with billing intricacies, stratospheric wages and stagnant workforce are limiting the billing and coding possibilities. The administrative burden is rising. Therefore, the quality of services and financial health of the practices are facing disruptions.

In this situation, you must consider a strategic approach towards coding and billing of sleep study to maintain the financial health of the business.

Strategies to Boost Sleep Study Billing Collections

  1. Communicate the patient responsibility: For smooth flow of your sleep study practice collections, you must keep your patients aware about the insurance process and their responsibility towards payments. In fact, not all insurance plans provide complete coverage for a service or treatment. Hence, it is important that you ensure your patients understand the billing process.
  2. Leveraging technology benefits: Integration of technology within the pre- and post- billing process is necessary to maintain seamless operation. Automate accounts receivable with effective payment system software that helps you reduce follow-ups and keep collections up to date. This not only helps you with regular cash flow but also gives a positive impression of your services.
  3. Staff training and education: Medical billing and coding process require consistent monitoring of the changes within regulations and payment guidelines. With the implementation of regular training and education of your staff you must ensure they are knowledgeable in organizing your process.
  4. Effective denial management: Erroneous coding and documentation is a major threat to optimized sleep study collections. You can mitigate the risks of claim denials with the implementation of a robust denial management system.

Organize Your Sleep Study Billing with Outsourcing

As the tedious process of sleep study billing is falling heavy along with clinical responsibilities, you might use a hand from the experts by outsourcing the process. A team

of outsourced medical billers and coders can streamline your billing operations of sleep study services with their deeper knowledge and understanding of the process.

A company with a team of expert professionals provides you with the benefits of advanced technology integrated within the process while reducing the administrative burden. Outsourcing a full-service billing can help you with cutting overhead expenses while driving up your revenue. For instance, Sunknowledge Services Inc, has been working in RCM for 15 + years. The team has worked with some of the largest sleep centers across the USA.

The company has a great reference of working for both payers and providers with a team of dedicated employees. They understand billing requirements and can provide you with tailored services with 100 % HIPAA compliance. You can book a non-commitment call with their experts to understand the process in detail. Entrusting a reliable partner who can work as an operational arm for you is a blessing in the long run.