A Look Ahead At Behavioral Health Billing In 2024: Future-Ready Finances

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A Look Ahead At Behavioral Health Billing In
2024 Future-Ready Finances


















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A Look Ahead At Behavioral Health Billing In
2024 Future-Ready Finances

• As we step into 2024, it becomes paramount for
  behavioral health providers to stay abreast of
  the impending billing updates that will
  significantly influence their financial
  operations.
• Not only this but statistics from the National
  Institute of Mental Health (NIMH) reveal that
  approximately 20 of adults in the United States
  experience a mental illness each year,
  highlighting the increased demand for effective
  and accessible behavioral health services.
• With such high demand, providers should also
  align their billing practices with the latest
  regulations to ensure optimal reimbursement,
  maintain financial viability, and, most
  importantly, continue providing essential mental
  health services to those in need. Lets have a
  look at the behavioral health billing updates in
  2024

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Behavioral Health Billing Updates for Medicare in
2024

• Direct Billing by MFTs and MHCs
• Telehealth Payment
• Extension of Telehealth Flexibilities
• Delay of In-Person Requirements
• Adoption of New CPT Codes
• Increased Focus on Value-Based Care

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Consult with Billing and Coding
Specialists

• Seek professional guidance from billing and
  coding specialists to navigate the complexities
  of the new rules and maximize reimbursement.
• According to a Medical Group Management
  Association (MGMA) report, hospitals face an
  average claim denial rate of around 48.
• Consulting with specialists helps mitigate such
  denials by ensuring that behavioral billing codes
  are accurate, compliant with the latest
  regulations, and reflect the specified
  complexities of different payers.
• Behavioral health billing and coding specialists
  like 24/7 Medical Billing Services possess the
  expertise to interpret and implement the
  challenges of behavioral health billing updates,
  such as changes in Medicare policies or the
  adoption of new CPT codes by commercial payers.
  Their knowledge helps providers avoid common
  pitfalls leading to claim denials, delays, or
  reduced reimbursement. Additionally, specialists
  are well-versed in optimizing documentation
  practices, aligning them with billing
  requirements to enhance the likelihood of
  successful claims.

https//www.247medicalbillingservices.com/
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About us

• We are a medical billing company that offers
  24/7 Medical Billing Services and support
  physicians, hospitals, medical institutions and
  group practices with our end to end medical
  billing solutions. We help you earn more revenue
  with our quick and affordable services. Our
  customized Revenue Cycle Management (RCM)
  solutions allow physicians to attract additional
  revenue and reduce administrative burden or
  losses.
• Media Contact
• 24/7 Medical Billing Services
• 28405 Osborn Road, Cleveland, OH 44140
• Phone no / Fax [phone]
• Email us info_at_247medicalbillingservices.
  com

https//www.247medicalbillingservices.com/