Charge Entry
What is charge entry process?
Charge entry is the process of recording and submitting medical service charges to insurance companies for billing. It’s a vital part of the revenue cycle management process for healthcare providers.
Once physician complete the scheduled appointment, he/she should share all the required details to billing staff to enter charges. The goal should be for all providers is to post the charges the same day the services are rendered. The longer it takes to post the charges, the longer it will take to get paid
for the services from the insurance company. You can always set a goal for the number of acceptable days to post charges.
Charge entry is important for several reasons, including:
• Ensuring accurate reimbursement: Accurate charge entry ensures that healthcare providers are reimbursed appropriately for their services
• Avoiding claim denials: Completing the charge entry process on time helps avoid claim denials
• Improving revenue: Effective charge entry can help healthcare providers optimize their revenue cycle management process and improve their overall revenue.
What service we provide in Charge Entry?
As a charge entry specialist, it is our job to ensure the accuracy of patient medical data. Your duties involve reviewing hospital records, verifying billing information, and inputting insurance data.
We follow a well-designed charge entry process. The charge entry process involves:
• Collecting information: Gathering patient information, such as demographics, health history, and insurance details.
• Recording services: Accurately recording the services provided, including the date, providers, place of service and services rendered.
• Assigning codes: Assigning medical codes using CPT, ICD-10-CM, HCPCS, Modifiers to the services provided.
• Posting charges: Posting the charges to the Claim Form (CMS1500 or UB 04) and submitting them to insurance companies.
Effective charge posting is a crucial step in the revenue cycle management for healthcare providers. It involves accurately entering charges into the billing system, ensuring that all services provided are appropriately documented and billed.