Molecular Billing Services
As a molecular (or genetic) diagnostic laboratory, you provide critical testing and services that significantly impact the way people live their lives. You offer definitive scientific results that help providers identify, diagnose, and responsibly approach medical care. Healthcare professionals understand the importance of genetic testing in preventive care and treatment options, but insurance companies haven’t been so quick to agree.
Molecular testing labs’ billing is complex in nature. For one, molecular testing can be very expensive, and payors simply don’t want to incur the costs, particularly when there isn’t a clear documented medical necessity. Credentialing issues, difficulty securing insurance contracts, and stringent CMS requirements of detailed family history are major obstacles that diagnostic laboratories face. It doesn’t help that advances in medicine and genetic testing have occurred at a faster rate than regulatory agencies have been able to keep up with, resulting in a tedious and often confusing molecular lab billing & coding process.
Accurate Claims Submission
Medcare MSO offers specialized molecular, genetic, and diagnostic laboratory billing services to ensure claims are properly coded and submitted in a timely manner and with all supporting documentation. Our certified medical billing specialists are experts at what they do, and they stay on top of all changes to CPT codes. Our specialized knowledge and experience mean we submit accurate claims the first time and see increased collections on A/R accounts.
In all fields of laboratory billing, ever-changing Current Procedural Terminology (CPT) codes present a challenge, but they have been revised at a dizzying rate in molecular billing which makes it nearly impossible for in-house billing staff to keep up. Individual genes don’t always have their own unique CPT code, making it extremely difficult to file an accurate claim. In some cases, one code can be applied to ten different genes. In other cases, the gene isn’t specified at all, so claims have to be billed with unlisted codes. Additional MolDX coding requirements for each gene further complicate the billing process.
Your lab uses expensive equipment to develop tests and record genetic and chromosomal defects, and you need to receive the maximum reimbursements for the services you provide. But you don’t have to navigate the molecular testing labs billing process alone. We’re right beside you every step of the way.