We know that accepting insurance on behalf of your clients can be daunting. But once you get familiar with the system, you’ll feel like a pro! Or – don’t worry about navigating the system, and leave the work to us. To get you started, we are answering a few common questions that we hear from you via email, phone and when we chat with you in person at conferences. We want to address these today so that you’re more comfortable with the insurance lingo and landscape:
1. Is insurance right for my practice?
To us, the pros of accepting insurance outweigh any cons. If you’re starting up a private practice or if you’ve been debating whether or not to accept insurance, don’t let insurance intimidate you. Once you’re set up with various insurance companies, you’ll likely grow your practice faster than before. You may even be able to ditch your side gig, as you move toward sustaining your full-time practice.
Being a provider with a variety of insurance companies increases the number of patients you can see. Once you’re contracted with insurance companies, your door will be open to clients who may not have been able to see you otherwise, and many of your new clients will find you based on you being a healthcare provider within their plan. Read more in this Stone Soup post titled, “Insurance or Self-Pay, Which to Choose for Private Practice?”
2. I’ve decided to accept insurance – yay! How long will it take to get set up with insurance companies?
Plan ahead…the credentialing and contracting process could take up to six months’ time before you’re included on carriers’ plans. Want to start accepting insurance in your practice in 2019? Then now is the time to get things in gear! Read more in the Stone Soup post titled, “Credentialing and Contracting: Getting Set Up to Accept Insurance.”
3. What is an EOP? What are the common CPT codes? What is PQRS? How do I learn the lingo?
Your RDN peers and the Healthy Bytes team suggest speaking or meeting with a seasoned mentor to help you learn the ropes and learn the lingo. The team here also has a cheat sheet of acronyms for you to bookmark and refer back to often! Remember, too, that if you prefer to channel your focus on your patients instead of on insurance jargon, that is what the Healthy Bytes team is here for!
Let us know what common questions you have – we’re here to help!