A question we were asked very recently. One, in fact, we are asked frequently. But what is the problem?
There are a few very simple reasons why online invoices are not being accepted. The details being submitted are incomplete and/or the details being submitted are wrong.
MHM is a big fan of electronic invoicing. But electronic invoicing does depend totally on one item. Having the correct data. For example: if you try and invoice electronically you will need the patient’s date of birth and the patient’s postcode. If either is incorrect then you will NOT be able to invoice.
This goes back to a consistent requirement of making sure you the details are correct.
The first and ONLY place to start is the patient’s registration form.
If this form is not completed or there are errors, the problem will manifest itself in the fact an invoice can’t be raised electronically.
In 2017, MHM was asked to review the billing of a large medical practice. The issue was the practice was owed significant amounts of money and could not get paid by one specific insurance company. MHM reviewed 100 invoices all of which had failed to be accepted.
In over 60% of the cases either the patient’s, policy number was missing or date of birth was missing or the patient’s postcode was wrong.
The practice manager responsible for this had, to resolve the problem, decreed the invoices should be sent in paper form instead. A clear case of mistaking movement for action!
The insurance company concerned, remember, had stated invoices should be sent electronically and ONLY electronically.
There is no such thing as a quick fix. A quick fix – such as sending invoices in paper form – often leads to more problems as it does not resolve the cause of the issue. Many insurance companies will no longer not accept paper invoices anyway so you might as well get it right up front.
MHM suggested going forward ALL patient details were captured correctly and the data verified with NO exceptions. We then took the “old” invoices and corrected/completed the data.
Within 4 months the average monthly cash flow into the practice had increased from around £120k a month to £260k a month.