Medical Billing for Cardiology and Cardiovascular Disease
Cardiovascular disease is typically a long-term condition with many different possible tests and treatments, so medical billing for cardiology becomes complex. The field also involves extensive surgery and very expensive equipment, making it necessary to ensure that providers are reimbursed for all appropriate services in order for their practices to remain solvent.
Outsourcing medical billing and coding has proven to be an effective approach to revenue cycle management for many providers throughout the country. At first it may sound risky to have an outsider in charge of something so sensitive, but professional medical billing companies have certified coders and billers who are trained in the requirements of managing medical records in addition to handling claims and processing denials and rejections to get results swiftly.
Medical Billing Issues for Cardiovascular Practices
- Denial of large claims: Because treating cardiovascular disease includes emergency care, complicated surgeries and expensive high-tech equipment, claims are often filed for large amounts. When these claims are denied, the provider stands to lose a large sum, and if they aren’t managed effectively, the resulting loss of revenue can result in an insolvent practice.
- Coding errors for complicated treatments and procedures: Medical coding must exactly define what was done, and for complicated procedures or long-term treatments, errors become likely when medical coders and billers are not experienced in the specialization. All the codes are accessible, but it takes some expertise to know what subcategories are expected to be included. “Modifiers” in coding give the details that payers need to have before reimbursing providers for services performed.
- Incomplete Revenue Cycle Management (RCM): When managed correctly, RCM starts when the patient first contacts the provider to schedule an appointment. At that time, insurance coverage is confirmed, and the appropriate appointment type is denoted in the medical coding when it is scheduled. The numerical coding that will be submitted on the claim includes details that describe the visit (e.g. in-patient, out-patient or emergency room/urgent care) as well as the resulting diagnosis and treatment. Incorrect coding can make subsequent visits look like duplication and result in claim rejections.
Medcare MSO Increases Revenue and Reduces Provider Stress
Cardiology and cardiovascular surgery are vital life-saving practices, which are developing all the time—resulting in ever-changing medical coding requirements. Medical institutions and payers are looking to cut costs, and doctors end up in the middle of it all.
Outsourcing RCM to Medcare MSO lets doctors and other medical personnel focus on patient care, while we handle all aspects of revenue from providing our proprietary software that is updated with the latest coding changes, and making sure clean claims are submitted, to managing denials and bill collection. Our coders and billers are trained in the specialization in addition to being certified and experienced.
In addition to routine aspects of billing and coding, we also manage charting and coding compliance, annual payer adjustments and pay back, as needed. Because we focus only on coding and billing, we are able to stay up to date on government offers and can maximize revenue from government incentives.
Medcare MSO’s innovative, full-service approach to medical billing and coding has made us extremely successful at increasing our clients’ income and reducing wasted time due to billing errors. Get a free demo today to see how we can support your practice and make your business more successful.