CARDIOLOGY MEDICAL BILLING
Our Cardiology Billing Services Are Widespread
Advances made in cardiac treatments in recent years have increased the success of treatment but have also resulted in new and more complex cardiology medical coding and billing requirements.
Cardiology is a Relatively High-Cost Medical Field
Because cardiology is a relatively high-cost medical field, practices stand to lose large amounts of revenue due to the inaccurate cardiology billing codes. The complexity of the ever-changing codes means that there may be errors, so it is extremely important to work with cardiology billing companies that are experienced in claims submission.
That way they can minimize errors and efficiently handle rejected and denied claims, unlike less experienced office staff, who are likely to end up spending several hours sorting out each claim and may not figure out the more complicated coding issues in the required time, resulting in unpaid claims and significant revenue losses.
Challenges Associated with Cardiology Medical Billing
Complications Start With Scheduling
The medical billing for the cardiologists start in the scheduling phase when insurance company coverage and payer requirements have to be confirmed. Even details such as whether the appointment happened in an in-patient, out-patient, or emergency room/urgent care setting must be accurate codes or the claim will be denied. We make the billing processes for cardiologists efficient and ensure effective denial management.
Complicated Procedures and Treatments Involve Complex Coding
Modifiers are an important part of billing and coding. These additional subcategories of numerical codes are required to give the details that are required in order to be reimbursed for all services delivered. Cardiology medical billing companies help you submit clean codes to payers for full reimbursements.
While inexperienced billers and coders can look up the general code for a procedure, they often do not know how many levels of modifiers they need to include or all the numerically coded details that need to be added. Payers are trending towards more bundling of costs into single codes, which can simplify billing—but coders must recognize any variance from the standard bundled items and know-how to itemize to avoid over-and under-coding.
High-Dollar Claims Result in Huge Losses
In a family medicine practice, hundreds of patients may be seen daily, resulting in a huge number of low-dollar claims being filed, but in cardiology, examinations and treatments are more in-depth and time-consuming, so far fewer patients are seen each day. If a physician sees 10 or 15 people on a normal day, the loss of revenue for a single unpaid claim can be the loss of up to 10% of the day’s income. Our cardiology billing services can help reduce denials and increase payments.
Outsourcing Cardiology Billing and Coding to Medcare MSO Increases Revenue by 20%
With cardiology billing companies getting more complicated all the time and payers and medical institutions forever looking to cut their costs, an effective revenue cycle management (RCM) system is becoming increasingly more necessary. Outsourcing billing and coding to Medcare MSO allows medical professionals to focus on patients because experienced, certified billing specialists are handling their RCM from start to finish.
We Have Certified Billers & Coders
Medcare MSO’s Cardiology Billing Services begins with scheduling and covers all aspects of billing, up through debt collection when necessary. Our certified coders are experienced in over 40 specializations, including cardiology. Our billers know how to recognize red flags for over-coding and under-coding and make sure clean claims are submitted.
We Focus On Coding & Billing
Because we focus only on coding and billing, we are able to stay up to date on government offers and the latest billing guidelines that can maximize revenue from government incentives. Our cardiology medical billing services comprise of daily billing, respond to denials and rejections swiftly, and even manage charting and coding compliance, annual payer adjustments, and payback, as needed.