What is a common source of frustration for practices related to timely billing submissions?

Delays in insurance approvals are a common source of frustration for medical practices when it comes to timely billing submissions. When a practice submits a claim to an insurance company, the turnaround time for approval can significantly affect cash flow and revenue cycle efficiency. If claims are held up for review, require further documentation, or are denied due to verification issues, this creates a backlog in billing. Consequently, practices may face delays in receiving payments, leading to potential financial strain and hampering the overall fiscal health of the practice.

In contrast, while unpredictable patient needs, changes in coding guidelines, and failure to collect patient self-pay can pose challenges, they do not directly affect the timing of claim approvals as prominently as delays in insurance approvals do. These factors may complicate the billing process but typically do not create bottlenecks in the actual submission and processing of claims within the billing cycle.