Over the years, many of my clients have been practically shut down all because they did not change the business address when they moved or added a location. There is a lot of stress when moving but not changing the business address can directly affect your revenue stream.
Even if you have made the effort to do all the right things, you must follow-up to be sure that all of your contacts have completed the change. All too often, we think it has been done but we find out too late it wasn’t.
Note – a phone call will not be sufficient. There is more work to be done. Here are 7 must do’s to help you begin.
- Call each insurance company you are a provider for to get instructions on what you need to do to change your address. For example, Medicare requires submitting Form 855R. It can take several weeks for Medicare to complete the process and approve the change. Plan ahead so you do not have to hold billing back when you move.If you are adding a location you will need to contact each insurance company to find out what you need to do to add a location. Again, Medicare will require more forms to be completed.
- Make sure you change your address with the bank. United Healthcare is a good example of why. If you want UHC to continue sending EFT’s and update your address, you will need send UHC an updated check from the bank with your new address on it. Otherwise your claims will not be processed.
- Update your billing software. Once you have changed your address with the insurance providers, the software company needs to make the change so when the claims go out they will reflect the new address in box 33 (where to send the payment) on the HCFA form. If you are adding a location, you will want to link your new location to the carrier so the address will show in Box 32 on the HCFA form (rendering facility).
- Notify your referral sources of your new address so new prescriptions and referrals will be directed appropriately.
- Company and therapist NPI information should also be updated with new address.
- Notify your local post office of your address change so any mail that may be sent to the old address will be redirected to the new address.
- Send notification to your patient base so they know where to send payments.
As you go through the process you may find even more things you need to do to make sure your new address is the only address now on file. If you are adding a location it is always a great idea to let your patients know you have expanded and now offer a new place to receive treatment.