Medical Coding
Accurate medical coding ensures proper billing, compliance, and revenue optimization. Essential for seamless healthcare operations and effective revenue cycle management.
Charge Entry: Essential for Medical Billing & Revenue Cycle Management
Charge entry is a vital step in medical billing and a cornerstone of effective revenue cycle management (RCM). It determines the amount of reimbursement a healthcare provider will receive from insurance payers. This process must be handled by an experienced team of charge entry specialists who can accurately enter charges from coded documents, ensuring compliance with the latest insurance coding standards and minimizing errors that could lead to claim denials.
The Role of Charge Entry in the RCM Cycle
Charge entry is the first step in the RCM cycle in medical billing and involves meticulously recording every service provided to a patient. This includes verifying the details with the fee schedule and forwarding the data to create the final claim. The process is now largely electronic, which shortens the revenue cycle and improves efficiency.
Key details such as the Date of Service (DOS), Place of Service (POS), provider information, units, modifiers, CPT codes, facility billed from, and referring physician are carefully checked to reduce the chances of claim rejections. Additionally, the process involves submitting the CMS 1500 form to the clearinghouse while maintaining complete integrity with Protected Health Information (PHI).
Why Accurate Charge Entry Matters
Accurate charge entry is essential for maximizing reimbursement and minimizing AR (accounts receivable) delays. Errors in this process can lead to claim denials, delayed payments, and even penalties during Medicare audits. By ensuring that every detail is correctly entered, healthcare providers can streamline their healthcare billing processes and improve their overall revenue cycle management in medical billing.
How Medixva Can Help
At Medixva, we understand the complexities of charge entry and its impact on your RCM cycle. Our team of charge entry specialists is well-versed in the latest medical coding and insurance coding mandates, ensuring that your claims are processed accurately and efficiently.
Our Charge Entry Process:
File Receipt: EOB details are received from the client in a scanned format on our secure FTP portal.
File Allocation and Download: Our medical billing and coding team downloads the files, reviews them, and allocates the work for payment posting.
Patient Demographic Entries: Our team enters demographic data, including patient account numbers, amounts billed, allowed, adjusted, and paid, as well as denial-related details.
EOB Follow-Up: In cases of partial payments, we conduct thorough analysis and investigation to resolve discrepancies.
Denial Management: We analyze EOB claims and take corrective steps to recover dues, ensuring a streamlined and effective process.
Client Feedback: We evaluate client feedback on data quality, reporting, and communication to continuously improve our services.
The Medixva Advantage
Cost-Effective Solutions: Our services start at just $7 per hour, with no hidden fees, helping you reduce operational costs by up to 80%.
Expertise in Medical Billing and Coding: Our team is trained in the latest medical billing and coding practices, ensuring accurate charge entry and faster reimbursements.
Seamless Communication: We act as an extension of your team, providing top-class communication and support throughout the process.
Compliance and Security: We adhere to HIPAA regulations and maintain the highest standards of data security, ensuring the safety of your PHI.
Transform Your Revenue Cycle with Medixva
By partnering with Medixva, you can put an end to your reimbursement worries and focus on delivering exceptional patient care. Our charge entry services are designed to optimize your revenue cycle management in medical billing, reduce claim denials, and maximize reimbursements.
Whether you’re a small practice or a large healthcare facility, our tailored solutions can meet your unique needs. Contact us today for a no-obligation discovery call and experience the Medixva advantage in billing medical services. Let us help you streamline your RCM cycle and achieve better financial outcomes.
Why Choose Medixva?
Affordable pricing starting at $5/hour
Expertise in medical billing and coding
HIPAA-compliant and secure processes
Dedicated support for AR management and denial resolution
Proven track record in improving revenue cycle management
Take the first step toward optimizing your healthcare billing processes. Partner with Medixva, a trusted billing company, and experience the difference in your RCM cycle.