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Unique Approach to reduce AR Days for Oncology Billing

December 28, 2016



Unique Approach to reduce AR Days for Oncology Billing

 

As a practitioner, you must be aware that running and conducting Oncology specialty is not that hard task, then billing and coding for the procedures given. Oncology billing is complex and requires broad knowledge in particular coding and billing requirements. However, working with an accomplished oncology billing firms can have a major effect with regards to getting paid. At Medical Billers and Coders, our team comprehends the specifics with respect to numerous chemotherapy procedures, therapeutic infusions, injection reporting, code bundling, and more. All these best practices and know-how leads to one very important aspect of Oncology practice, which is reducing the Accounts Receivable days.

In restorative billing, the practice of following up claims after submission can very well lessen several days from submission to reimbursement, and accordingly to AR. In a standard scenario, the claim should be dispersed inside 72 hours after the date of administration. That is the point at which the payment clock begins and then you can start looking for that check to appear in Accounts receivable (AR). To lessen your claims time in AR, state payment laws legislate the number of days in which a payer must pay a clean claim. Payer contacts normally have prompt pay clauses as well.

Our cutting edge billing software can help you monitor, to what extent a claim has gone unpaid by giving healthcare providers access to various reports. One of those is the aged collection report or ledger. This report mirrors the individual payers and the patient accounts that are associated with every payer.

The report additionally shows the age of the account in number of days; 30 days or less, 31–60 days, 61–90 days, 91–120 days, etc. The report likewise shows the number of days permitted in AR per payer.

When examining the report, take a look at the abbreviated version, which is the age of the accounts per payer, and do the following:

  • Starting with the payer with the biggest number of Accounts Receivable outstanding, take a look at the payer's accounts that are 30 days or less. Confirm that these claims have been received. Doing so helps in preventing timely filing issues that generally hamper the AR days.
  • Looking at established records, call each payer and check the status of every record.

Here are a few things to ask every payer you call:

  • "Has a claim number been allotted? If yes, then what is it?"
  • "What is the status of this claim?"
  • "At the point when would we be able to expect payment?"
  • "Are there any issues causing the claim to be postponed? If this is true, how might we fix them?"
  • "Is extra information required?" In this way, get a fax number and send the necessary information; then get back to and affirm the receipt of the fax.
  • "With whom am I talking, and what is the reference number for this call?"

Work your way through the aged account by looking at the records as they have matured and get the claims in procedure to pay. If you are in charge of the monetary condition of the aged accounts, you can take control of the AR, by allotting the work to specialized medical billing and coding agency. This will serve as a backbone for your Oncology practice and you as a practitioner can focus solely on the most important task of your profession, which patient care and consideration.

 

Category : Best Billing and Coding Practices