Internal Medicine Revenue Cycle Management
An internal medicine practice often includes general and family medicine patients, so it can have one of the highest numbers of different patients coming through its doors in any given week. This means there may be any number of reasons patients come in, resulting in billing and coding issues arising constantly. While there may be few complicated procedures performed in the office, there will certainly be minor procedures and prescriptions in addition to the wide array of diagnoses that must be coded.
Losses due to medical billing and coding errors
The internal medicine revenue cycle is hit especially hard by losses due to medical billing and coding errors because it is a low-paying specialty, as medical fields go, and insurers are prone to cut allowable billing amounts for so many of the more common services that are performed when seeing general medicine patients.
Medical Billing and Coding Challenges for Internal Medicine
While each area of medicine has its own issues, we have found the following to be common concerns for internal medicine practices.
The large number of routine and non-routine activities that regularly occur mean that scheduling, rescheduling and annual scheduling require additional staff time.
Government Offerings and Incentives
Because internists see such a broad sector of the population and are often the first point of contact for patients entering a diagnosis and treatment cycle, there are a huge number of government incentives and offers that the offices must be aware of, and which make staying up to date on coding updates imperative, but unlikely for a busy office staff.
Necessary seasonal items like regular vaccines and annual flu shots also add to the responsibilities of office staff and coders.
Billing and Coding Errors
The medical coding system is complex, and with all the codes an internal medicine office deals with, it’s no wonder an in-house medical billing and coding staff has trouble keeping up. Compliance charting and coding plus unintentional under-coding and up-coding also cause a lot of problems.
Unlike a pain management or pulmonology practice that may see each patient repeatedly over a long period of time, the nature of internal medicine brings many different patients into the practice for anything from food poisoning to a sprained wrist. Many of these require immediate attention, but the patient may not have the money to pay their part of the costs, resulting in more billing work to arrange payments or bill collection.
Medcare MSO Manages the Entire Internal Medicine Revenue Cycle
A medical practice needs to be able to focus on taking care of patients, not billing and payers. Medcare MSO can take all of that off your plate, from scheduling, through coding and billing, managing rejections and denials and, if necessary, bill collection.
Our proprietary software has been designed to make coding efficient
We have certified coders who are experienced with the specialization, and our proprietary software has been designed to make coding efficient and help avoid errors. One of the most expensive aspects of the revenue cycle for providers is dealing with rejections and denials. Each one can take hours to unravel, correct, resubmit and sometimes follow up further. Medcare MSO’s expertise in this area is a large part of why our clients say we make them money, rather than cost them money for our services. The amount we recover and the time we save more than makes up for the small percentage of collections that we charge.
We make it our business to stay up to date on all the latest coding and billing requirements, allowing practitioners to get back to focusing on medicine and not worrying about payers and bills. Get a free demo today and see how we can help you and your practice run more efficiently.