November 20, 2017 by ChiroTouch Article Billing, Profession
Share

Have you ever wondered if you are receiving the average reimbursement for each of your claims? Or if your rejection rate is to high in comparison to your fellow chiropractic peers?  Are you using the best chiropractic billing service to improve your Medicare billing, decrease your rejection rate, and get the most from your claims?  If you ever ask yourself any of these questions, you’re likely also wondering if there is room for improvement with your process.  The hard part is pinpointing where your process can be improved.

With these common questions and issues in mind, ChiroTouch launched a survey to our customers about the current state of their billing processes.  Our findings from the survey revealed:

  • 54% of survey respondents had a rejection rate between 1% and 3%.
  • 67% of those that responded to the survey said their claims spend an average of over 30 days in accounts receivable (AR), with 20% of that group saying their claims were spending 60 to 90+ days in AR.
  • 44% of respondents are sending out over 200 claims a month and another 32% are sending out between 100 and 200.
  • 55% of respondents are participating with 7 or more payers.
  • The average reimbursement per claim (based on your responses) was about $52 per claim.
  • Almost half (48%) responded that they are sending out more than 200 claims per month.

These stats do not provide the whole story, though.  We also asked you about how much time your claims are spending in accounts receivable and what you thought your average rejection rate was?

Join our Newsletter

Receive this content and more right in your inbox.

Are you a Biller?

Learn how to get paid faster with less re-work.