Mastering the Money Maze: How We're Helping New Jersey Healthcare Providers Win With Medical Billing

Are you a healthcare provider in the state of New Jersey? Do you own a healthcare practice or clinic in the Garden State? Are you searching for new ways to improve your finances and keep your clinic afloat? 

If you answered ‘yes’ to any of those questions, then this article is for you. 

First and foremost, we’d like to thank you for making New Jersey such a wonderful place to work and live. Every day, thousands of people come to you for assistance and you never disappoint – like a true hero. 

And we admire that about you. 

Primary care physicians, physical therapists, surgeons, mental health professionals, speech therapists, urgent care facilities, dentists, oncologists, radiologists, cardiologists, dermatologists, fertility specialists…

Seriously – we don’t know where we would be without you. 

But at the same time, we know your line of work isn’t easy. And like most business owners, you can’t do this all by yourself – especially when you factor in all the things you’re responsible for behind the scenes. 

And that includes the medical billing process. 

But don’t worry – that’s where we come into play. 

At Millenium Medical Billing, our goal is to take that weight off your shoulders and give you the freedom to do what you do best – that way, you can spend less time invoicing and more time in front of your patients. 

What Is Medical Billing: Revealing the Magic Behind the Numbers

Medical billing is the process of submitting and following up on insurance claims – as well as patient invoices (depending on their coverage) – to ensure you’re fully reimbursed for the services you provide. 

In other words, it’s what gets you paid – and what keeps the lights on.

Now, you might be asking yourself… 

If it’s so important, why do so many healthcare providers struggle with it? 

It’s too time consuming. Standards and regulations are constantly evolving. Medical codes are always changing. Claims are getting denied and rejected. Patients aren’t paying their medical bills on time. 

The truth is there’s a lot that can go wrong with the medical billing process. 

Especially when you don’t have the time, energy, or effort to dedicate to it.

The good news is most of those issues can be resolved by surrounding yourself with the right people because, at the end of the day, billing and invoicing should be the last thing you have to worry about.

Follow the Paper Trail: A Step-by-Step Look at Medical Billing 

Medical billing is a complex, multi-step process that begins the second your patient walks in for their first visit and continues throughout the duration of their consultation, treatment, follow-up, and aftercare. 

In fact, it doesn’t end until you receive full reimbursement for your services. 

And that process repeats itself every single time you meet with a patient. 

It’s a meticulous process that takes a certain level of knowledge, experience, diligence, and collaboration, but it’s one that our medical billing experts have mastered – and one that we would be happy to rid you of.

With that said, let’s take a look at how medical billing works – and how we can help!

Step 1: Patient Information & Insurance Coverage

Anyone who has ever been to a doctor’s office before knows that they almost always have some type of paperwork for patients to fill out before they meet with the doctor – especially if it’s their first time visiting. 

Believe it or not, this paperwork is critical to the medical billing process. 

Not only does it give us their full name, date of birth, address, phone number, and email – all of which are needed for billing and communication purposes – but it also provides the patient’s insurance information.

Without their insurance information, reimbursement becomes very difficult. 

Even then, having their information is only half the battle. Once collected, it then needs to be recorded and double-checked for errors, typos, and mistakes – which can result in claim denials down the road. 

Step 2: Procedure Documentation & Medical Coding

During the visit, it’s up to your team – the doctor, nurses, practitioners, assistants, and anyone else who spends time with the patient – to properly document the patient’s symptoms, diagnosis, and treatments. 

Your medical billing team will need this information when filling out the superbill. 

The superbill is what we send to the insurance company – it’s basically an invoice that details how much they owe you and how they can pay it. If the superbill is incorrect or inaccurate, then you won’t get paid. 

So, what separates a good superbill from a bad one? Medical codes.

ICD codes, CPT codes, HCPCS codes, modifiers – our medical billing experts are proficient in medical coding, which means your practice can steer far away from typos, errors, mistakes, and wrong codes. 

Step 3: Claim Submission, Denials, & Rejections

Submitting an insurance claim is one thing, but getting that insurance claim approved is a completely different story. It’s like submitting a claim after a car accident – you never know what they’re gonna say. 

At the end of the day, your claim will either get approved, denied, or rejected. 

If it’s not approved, the next best thing is a claim denial. While it means there was an issue with the claim (wrong code, incorrect information, lack of coverage), denials can be fixed, resent, and then approved.

Rejections, on the other hand – when they get sent back, there’s no fixing it. 

At Millenium Medical Billing, our goal is to maximize approvals and take care of any denials (which are rare when working with us) in a timely manner – all while avoiding those pesky rejections at all costs. 

Step 4: Patient Billing, Collections, & Late Payments

Sometimes the patient’s insurance plan won’t cover the treatment provided, while other times they might not have insurance to begin with. Either way, there’s a good chance you’ll send a bill to the patient, too.

This is where things can get sketchy for most healthcare providers. 

Once the patient receives the bill, they have several options – pay it in full, sign up for a payment plan (if available), or ignore it. Paying in full is ideal, payment plans are okay, but ignoring it is the worst case. 

If they choose not to pay it, you’ll have to get a collection agency involved. 

No matter what you do, the goal stays the same – get reimbursed in full as soon as possible. While that might be hard to obtain by yourself, our medical billing experts can help you stabilize cash flow issues. 

Experience the Difference: Why New Jersey Trusts Millenium Medical Billing

Are your insurance claims always getting denied or rejected? Are you not getting reimbursed for the services you provide? Is your healthcare practice losing money? Do you need help with medical billing? 

If you answered ‘yes’ to any of those questions, then you’ve come to the right place. 

Welcome to Millenium Medical Billing – New Jersey’s highest-rated medical billing company. 

We offer a perfect blend of precision, reliability, and cutting-edge technology to ensure your billing process is as smooth and efficient as ever – that way, you can spend more time attending to your worthy patients. 

Contact us today at (718) 356-1337 or request a consultation online to learn more about our services!