Medcare MSO’s Full Suite of Psychology Billing Services
Medcare MSO takes care of revenue cycle management from credentialing to annual reviews, protecting your income while you focus on patient care.
In practice, psychology is quite different from other fields of medicine, but unfortunately that doesn’t exempt the practice from the headaches of medical billing and coding. Medcare MSO offers full revenue cycle management (RCM), including processing claims and handling rejections and denials, which greatly reduces administrative responsibilities and allows psychologists to focus on patient care.
It may come as a surprise that RCM can be entirely outsourced to one provider, but Medcare MSO’s innovative software and comprehensive management process takes care of it from the time patients are scheduled until payments are collected and beyond. Our services can actually begin before you even see patients by managing insurance credentialing. And we also take care of annual payer adjustments and pay back.
Psychology Billing Has Its Own Challenges
Medical billing and coding are complicated and not only do the codes change every year, but payer requirements and policies do too. It’s too much for anyone in private practice to keep up with. Here are some of the issues that are common for psychology practices.
- Complicated rules for coverage: Some health care policies exclude mental health care altogether, and those that include it have a wide range of policies. The Affordable Care Act (ACA) requires Marketplace plans to include mental health and substance use disorder services but does not detail what must be covered. Though it is more widely covered than it has been in the past, the rules for therapy may even vary from state to state by the same insurer.
- Referrals may be required: Sometimes a referral from a family physician is required in order for therapy to be covered. This means that when a patient is scheduled, you must remember to make sure they have already seen a doctor, but it also adds a networking challenge to the success of your practice. If you aren’t known in the local medical community, you will not get referrals because medical offices usually try to refer to a psychologist that they know and feel confident recommending.
Medcare MSO Simplifies Running Your Practice While Increasing Your Revenue
It is rare for a service that makes your life easier and your business more successful to pay for itself right away, but efficient medical billing does just that. By outsourcing to Medcare MSO, you will have more time available to dedicate to seeing patients and less stress over administrative tasks associated with billing; and thanks to efficient claims filing and swift management of denied or rejected claims, you will make more money because revenue won’t be lost to errors and missed deadlines.
We have certified billers on staff who are experienced in psychology billing services, and experts in the whole RMS process to help with any aspect of it. Our services are customized so that you get just what you need and are not obligated to anything you don’t feel would be a real benefit to you. Get a free demo today and see how much more efficient your revenue management can be.