Optometric Billing Solutions: 7 Key Things To Consider

While providing excellent patient care is rightfully your top priority as an optometrist, it’s essential to give the business side of your optometry practice the attention it deserves. Well-organized, convenient optometric billing solutions allow for more efficient use of staff time and provide a better experience for your clients.

Without sufficient billing processes, you could receive payments late or waste time resubmitting claims. All-in-one software simplifies the administrative functions that are the backbone of your practice, including payments, phone calls, scheduling, and reviews. It gives your team more time to focus on patient care and is just one of the many solutions for optimizing medical billing.

7 Factors to Consider in Optometric Billing Solutions

You can improve your optometry billing with internal changes or by taking advantage of an all-in-one software, depending on the needs of your practice. When you’re exploring the various optometry billing services on the market, keep in mind these seven factors to select one that meets your office’s needs and does everything you need it to do.

1. Digital Forms

Most outstanding claim denials come from data entry mistakes while transferring information from paper to the computer. Using digital forms eliminates that extra step, ensuring prompt claim submission and maximum reimbursement from insurance payments.

In the traditional method, patients fill out medical forms in the waiting room and give them to the staff, who transcribes the information when submitting claims to the insurance company. With medical billing solutions, you can send digital forms to patients before they step foot in the office, saving your time and reducing the risk of errors with medical or vision insurance claims.

2. Efficient Team Communication

Around 90% of denied claims are avoidable, so it’s essential to have a solid strategy for preventing common mistakes and errors.¹ Adequate training helps, but even long-time team members need a hand now and then. If you have a simple, easily-accessible communication platform for your staff in all locations, they can ask questions and get the answers they need instantly.

A team chats app can also be a place to share news and announcements, helping keep everyone up-to-date on the latest health care, optometry, and insurance billing developments.

3. Pay Later

Introducing a financing option to your business can help you serve more clients and increase your cash flow. With business payment software, your clients can choose a more flexible payment option to help cover optometry costs. The ability to pay later ensures patients get the services they need.

The process typically only requires a soft credit check, helping boost the number of applications and your monthly revenue from financing. You won’t have to worry about collections with certain payment solutions. After approval, you receive payment instantly, while a third-party lender works out a payment plan with the patient.

4. Instant Patient Messaging

Many people don’t enjoy talking on the phone and might even send you straight to voicemail, making it tricky to get clarifications for insurance information or scheduling. All-in-one business software can provide the ability to text back and forth with patients to remind them of their appointment or ask a question about their insurance providers.

Not only does messaging software cut down time and billing mistakes, but it also takes your customer service to the next level.

5. Payments

Streamlining your payment system with structured tools and procedures prevents issues with late or missed payments from your clients. One crucial tip is to collect co-pays, deductibles, and coinsurance from patients during check-in or check-out. It might seem inconvenient, but with innovative payment software, the experience is more straightforward than ever.

In-app payments are stress-free and beneficial for both sides of the desk. Clients can choose how they want to pay, such as mobile payment, manual card entry, or text-to-pay, and you get a simple payment tool with HIPAA compliance.

6. Ease of Insurance Verification

With business software suitable for medical practices like your optometric business, you can make insurance verification quick and easy. You can access up-to-date information for verifying your patients’ insurance and searchable reports. If any issues pop up, you can send the client a message without leaving the app.

7. Reviews

Effective optometric billing solutions improve client experience, making them more likely to leave a good review for your eye care practice. The more positive online reviews you have, the more people will come to your business.

You can use review management tools to keep track of your reviews on sites like Google and Facebook, allowing you to address any bad experiences a client has had promptly. You can also set up automated messages requesting clients to leave a review of your services.

FAQs

What are some common optometrist billing codes?

An optometrist typically uses the 92xxx General Ophthalmological Service codes and 99xxx E/M codes.² The 92xxx codes for optometry medical billing services are suitable for any medical or routine exam. CPT code 92004 is a broad category for new patients, while CPT code 92002 is for continuing treatment of existing patients.

What are some optometric billing solutions jobs?

Some optometry practices use a medical billing company for revenue cycle management, including claims processing and credentialing services. An insurance billing specialist can provide HIPAA-compliant billing solutions, allowing you to focus on patient care.

Comprehensive business software gives you the tools to stay connected with your team and provide excellent customer service, as well as some effective optometric billing solutions. Schedule a demo with Weave to consolidate your scheduling, payments, marketing, financing, and much more.

Sources:

1. Success in Proactive Denials Management and Prevention
2. General Ophthalmological Services and Procedures CPT