Medcare MSO’s Endocrinology Billing Services
Because an endocrinology practice is not only specialized but also involves a lot of lab testing and follow up, billing and coding can be especially complex—which leads to errors and lost revenue. Endocrinology billing services are becoming indispensable for this kind of practice, which needs to be run as efficiently as possible to maintain a high level of patient care while still being profitable.
Purse strings tightened wherever possible
In today’s medical world, the reality is that costs are being cut and purse strings tightened wherever possible, which makes it more important than ever to have experts in charge of coding and billing. In addition to increasing revenue, correct coding is also vital to assuring accurate communication between the doctor and the lab so that the proper tests are run and results are reported in a timely fashion.
The Challenges of Medical Billing for Endocrinology
Endocrinology practices are not alone in dealing with the complexity of medical billing, but the field does have some unique issues, including:
Front Office Scheduling
Endocrinologists frequently receive patients as referrals from other physicians, and in addition to the usual intake processing, information relating to the original examination and diagnosis must be correctly recorded or claims will be denied or rejected. The medical billing process begins as soon as the patient or another medical office schedules the appointment, so having specialized coders who are familiar with the practices of endocrinology is essential.
Detailed Codes for Common Actions
Medical codes not only update annually, but may even vary depending on the payer, making it necessary for coders and billers to stay on top of changes. Endocrinologists also deal with very detailed coding, such as that for vaccines, which requires a different code for each variable, not only to specify whether the flu shot was quadrivalent or trivalent, but there is a different code for live or split virus, and yet another code to specify whether the patient was 6 to 35 months of age or three years and older. Then there are different codes for intramuscular or intranasal administration. Unless the coder is trained in the practices of endocrinology in addition to general medical coding, there will be many errors made in claims as these details will be overlooked.
Managing Denied and Rejected Claims
Payers don’t make any effort to reconcile inconsistencies in claims. The slightest variation from the patient’s record will cause a rejection, and anything in the claim that doesn’t match up with the expected treatment will be denied. It can take hours of in-house staff time to reconcile each rejected or denied claim, making the process a serious drain on the practice’s finances.
Outsourcing Medical Billing to Medcare MSO Supports Your Endocrinology Practice
If, like most medical practitioners, you have struggled with billing and coding issues, it may seem impossible that someone outside your practice would be able to manage that process for you, but our clients have told us repeatedly that their revenue increases and their practice runs more smoothly when they outsource their coding and billing to us.
Innovative team of certified
The reason this relationship works so well is we have an innovative team of certified, experienced medical billers, with specialists in all areas of medicine, including endocrinology. We handle revenue cycle management (RCM) from beginning to end, starting with scheduling, carrying through coding, billing and swiftly addressing rejections and denials, and even taking care of bill collection when necessary.
We manage annual payer adjustments
In addition to the routine billing process, we provide an innovative proprietary software that we keep up to date, so you don’t have to worry about changes to the codes. Our services also include managing annual payer adjustments, payer credentialing, compliance reviews—and you can customize which services you need. Get a free demo today to see how we can protect your bottom line while giving you back the time you need to focus on your patients.