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Mental health medical billing involves coding and managing claims for mental health practices, ensuring accurate reimbursement. This process includes using specific billing codes for mental health diagnoses, treatments, and therapies across various specialties, such as clinical neuropsychology, geriatric psychiatry, emergency psychiatry, etc.
However, many healthcare practices often face several challenges in medical billing for mental health. One major issue is the complexity of billing codes, which vary based on the type of therapy, diagnosis, and treatment modality. This complexity increases the likelihood of coding errors and claim denials.
At Invensis, we simplify the mental health insurance billing process to help healthcare practices enhance their financial performance by:
- Collecting comprehensive patient details, including demographics, insurance information, and medical history
- Verifying the patient’s insurance coverage through an Eligibility and Benefits (E&B) check helps determine coverage for mental health billing services, including copayments, deductibles, and preauthorization requirements.
- Assigning the correct billing codes based on the mental health services provided, including diagnosis codes (ICD-10) and procedure codes (CPT).
- Compiling all necessary information, including provider details, service codes, and required modifiers, to ensure that claims are complete and ready for submission without errors.
- Submitting claims via Electronic Data Interchange (EDI) ensures faster processing and real-time tracking.
- monitoring claims status and addressing issues that arise, such as requests for additional information or coordination of benefits (COB) problems.
- Identifying the reasons for claims rejection, correcting errors, and resubmitting claims.
Posting payments to patient accounts and reconciling them with Explanation of Benefits (EOB) statements ensures accurate financial records.
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