Practice Management Alert

Surprise! You can use an EOB to boost revenue

Don't let an explanation of benefits (EOB) stop your quest for the reimbursement you deserve.
Use EOBs to your advantage with these tips from consultant Elizabeth Woodcock with Physicians Practice Inc. in Glen Burnie, Md.:
 
1. Get out of the fatalistic mind-set. Practices need to get out of the habit of filing away EOBs as long as they have a dollar amount on the remit, she says.
 
2. Move quickly. The sooner you address these denials, the better your chances of overturning them, says Karen Jeghers, manager at Compliant Billing Services in Carver, Mass.

3. Get in touch with your systems vendor and ask for a way to "codify" the message codes on your EOB so you can generate a report, Woodcock says.

4. Look at your denial statistics at least once a quarter. See how many claims Medicare denied for timely filing, and for which procedures.

5. Look for explanations. There may be a simple reason for a pattern of denials, says Laura Talbert with Shore Billing & Management in Allen, Md. It could be that a patient ID number has  changed slightly, but your practice is still billing the old number.

Also, you may routinely be leaving off the UPIN of the referring physician for services that require that information, Jeghers says.