1. COLLECT NEW INSURANCE CARDS FROM PATIENTS AND VERIFY BENEFITS: Insurance carriers issue new cards toward the end of each year. It is common for carriers to change identification and group numbers as well as policy benefits and limitations. DO NOT assume everything is the same simply because the carrier is the same.  Medicare cards are changing in 2018 as well. Medicare will no longer use social security numbers as a part of the identification number.  Collect copies of all current cards and verify benefits for the New Year in order to updated records and ensure proper billing.

  2. OBTAIN AND REVIEW YOUR CURRENT MEDICARE LCD (Local Coverage Determination) AND CONTRACTED FEE SCHEDULES: New Medicare LCDs have been, or are currently being, posted to Medicare Contractor websites. Important information that may affect your proper Medicare billing is included in these documents. Be sure to obtain the most current one for your region.  Also contact all contracted carriers to request the current fee schedule for the new year.

  3. REVIEW CPT/HCPCS/ICD-10 CODE USE:  Be sure to complete a review of all your commonly used codes.  Codes are deleted, added and updated each new year.  Don’t make the mistake of using a deleted code or using a code incorrectly.  Coding and billing errors can almost always be avoided simply by taking a proactive approach and working to ensure you have the most current information available.

  4. BILLING AND COLLECTIONS: Your billing and collections processes are a major part of your practice. Your cash flow depends on it.  This includes insurance billing, submitting clean claims, proper patient billing and of course, over-the-counter collections. Every practice can find areas in the billing and collection process that can be improved and there is no better time than right now, to take a closer look at each of these areas of your office.

  5. MEET WITH YOUR TEAM AND TAKE ACTION: Meet with your team to identify weaknesses, prioritize tasks, and delegate duties. Be sure to set measurable and attainable goals. The more clearly defined your goals, the easier they are to attain.  Once you know the outcome you want, create an action plan to ensure your success.

Do something right now to go in the direction of your practice goals. Each step you take brings you closer to what you want.