Outsource Dermatology Medical Billing – Increase Collection by 20%

outsource-dermatology-medical-billing-increase-collection-by-20%Dermatology revenue cycle management is more than just dermatology medical billing. It is a service that manages the processes that impact your bottom line from first patient contact to paid account balances and everything in between. The procedure to manage your dermatology treatment center’s revenue cycle management begins before your patient visit and ends when there is a zero balance that is owed to you.

As a dermatology practice owner, it is an opportune time to get your business’ financial “house” in order, finding ways to increase revenue without increasing costs as it relates to your dermatology medical billing.

Time To Work Smarter & Not Harder

Dermatology practices are not resistant to volatile economic conditions that impact most other industries. Whether times are good or challenging today, dermatologists need to foresee and prepare for a drop in collections and a decrease in revenue at any point.

Unfortunately, spending an excessive amount of time managing your revenue cycle also make you suffer your practice by spending less time, energy and focus on patient care.

Consider Outsourcing Your Dermatology Medical Billing

Outsourcing your dermatology billing can lend extensive experience and expertise to help you increase revenue by 20%, maximize profitability and streamline your billing processes letting you focus on patient care.

If you are determined to outsource, sensibly consider vendor qualifications and ability to meet your practice needs. At a minimum, an outsourcing dermatology medical billing company should have:

  • Dermatology billing expertise
  • Experienced, professional billing staff
  • Quality service and proven business performance
  • Comprehensive, integrated solutions, including practice management, electronic medical record and inventory management systems
  • Strong leadership and management
  • Satisfied customers and solid references
  • Company stability and long-term commitment

By outsourcing your internal resources to focus on collections, or turning to a dermatology billing outsourcing company like MBC to handle all of your medical billing needs and more, you’ll be well on your way to enjoying increased revenue up to 20% and beyond.

How MBC Medical Billing & Coders Can Help?

At MBC, they find the solutions related to your dermatology practice billing problems:

  • How MBC can assist you?
  • Do you need to increase your collections?
  • Is your billing costing you too much?
  • Is cash flow a problem?
  • Are your claims submitted timely?
  • Are you worried more about medical insurance billing than practicing medicine?

MBC proudly support Dermatologists with outsourced medical billing services and collections. MBC is an experienced in the specialized coding requirements of Dermatologists in their practices of working with a wide range of patients with skin and any related conditions.

MBC has proudly earned a superior reputation for our local support of Physicians with a comprehensive range of outsourcing services.

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Reimbursement Methods: Fee-For-Service vs Capitation

reimbursement-methods-fee-for-service-vs-capitationAs the present USA healthcare trends focusing more towards value-based care, the fee-for-service reimbursement model is under intense scrutiny. Often labeled as an antiquated payment model, it promoted over-utilization by physicians and patients, while creating fragmentation among healthcare service providers.

The Affordable Care Act of 2010, along with MACRA legislation in the year 2015, has slowly helped to redirect healthcare payment reform away from fee-for-service to a capitation payment system. However; both models are widely used and they both have been criticized for various reasons. Now the present healthcare focus is emphasizing on quality, efficiency, care coordination, cost control, and preventive health, capitation is developing as the model of choice for the value-based care movement.

The traditional model of paying for individual services on a case by case basis is being challenged by the newly introduced alternative model known as capitation. Capitation is a quality-based system measured by health outcomes, patient satisfaction, and clinical compliance. It has proved to be a great system for cost-conscious employees, but it might not be for everyone.

Fee-For-Service vs Capitation

Capitation Method

This reimbursement method will be given the primary care provider or physician practice a set fee per year or month for each patient. This new model aims to offer a perfect balance of patient protection with incentives to restrain the costs.

This method gives doctors, not the payers, more control over decisions about care, while also restraining unnecessary spending.

  • It inspires clinicians to limit unnecessary medical services that raise costs without adding value.
  • It makes it stress-free for providers to use things like telemedicine that aren’t easily compensated under traditional fee-for-service models.
  • It makes costs much more foreseeable for payers and gives the doctors and other providers a more predictable monthly cash flow.
  • It can be simpler administer – a fee per patient rather than complicated billing and elaborate coding for every visit and procedure.

Fee For Service Model

  • Every patient visit, evaluation, treatment, procedure, test, etc. are billed by the provider to a third-party payer for payment.
  • The fee-for-service payment structure leaves the provider and patient “absolved” from fiscal accountability, which arguably encourages over-utilization by both parties, leading to an increase in overall healthcare costs over time.
  • If patients need more care than expected, the burden of cost overages lies with the payer, not the provider.
  • This arrangement creates a scenario with inherent financial uncertainty for the payer concerning medical care costs and payment, explaining in part the ongoing rise in health insurance premiums

Liked what you read. For more such reads; and leveraging the in-depth understanding of the medical billing and coding process, connect with experts like MBC.

Medical billing has delivered the highest levels of customization when it comes billing and coding so as to keep your practice streamlined and flourishing. Effectively utilizing the outsourced model, the MBC team has been able to bring the operating costs of our pharmacy clients by more than 42%.

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2019 OB-GYN ICD 10 Coding Updates & Changes

2019-ob-gyn-icd-10-coding-updates-changesWith the year 2019 approaching; there has been a buzz of new medical billing codes. The year 2018 has been a hectic for the medical and healthcare industry professionals as ICD-10-CM codes introduce nearly 500 changes, 33 of them in Obstetrics and Gynecology; as well as in several other specialties.

So what’s new to expect in the year 2019 OB-GYN coding?  The 2019 ICD-10 adds a code for maternal depression screening i.e. Z13.32 and two for personal history of sexual exploitation Z62.813 and Z91.42.

There are more than a dozen new codes for multiple-gestation pregnancies i.e. O30 series. And five of the added codes cover doubling of the uterus which includes complete, partial, unspecified, and other—the Q51 series, this means it requires sharpening the understanding and documentation to ensure the denials doesn’t happen. Staying on top of the new and revised ICD-10 codes coming Oct. 1 should be a priority for your ob-gyn practice.

New Codes Introduced for OB-GYN are:

O30.1 Triplet pregnancy

  • O30.13 – Triplet pregnancy, trichorionic/triamniotic
  • O30.131 – Triplet pregnancy, trichorionic/triamniotic, first trimester
  • O30.132 – Triplet pregnancy, trichorionic/triamniotic, second trimester
  • O30.133 – Triplet pregnancy, trichorionic/triamniotic, third trimester
  • O30.139 – Triplet pregnancy, trichorionic/triamniotic, unspecified trimester

O30.2 Quadruplet pregnancy

  • O30.23    – Quadruplet pregnancy, Quadra chorionic/Quadra-amniotic
  • O30.231   – Quadruplet pregnancy, Quadra chorionic/Quadra-amniotic, first trimester
  • O30.232   – Quadruplet pregnancy, Quadra chorionic/Quadra-amniotic, second  trimester
  • O30.233  – Quadruplet pregnancy, Quadra chorionic/Quadra-amniotic, third trimester
  • O30.239  – Quadruplet pregnancy, Quadra chorionic/Quadra-amniotic, unspecified trimester

O30.8 Other specified multiple gestations

O30.83 – Other specified multiple gestations, number of chorions and amnions are both equal to the number of fetuses

New Codes for Surgical Wound Infections

There is a whole new lot of new codes available for obstetric surgical wound infections. With the new coding changes in wound infections, you’ll find that there are now individual codes for deep incision sites, sepsis, organ and space site, incisional site, unspecified, and other. If you don’t add the additional character needed providing the detailed information about the wound sites, the payer will not be able to accept the code and the denial chances are huge.

Let MBC help you avoid claim denials and potential paybacks. With MBC’s Ob-Gyn Medical Billing and Coding partner; you’ll stay on top of the latest ICD-10, and HCPCS code changes, as well as revisions to ob-gyn coding guidelines, payer policies, CCI bundles, payer policies, modifiers, and much more.

MBC’s updated guidance delivered each month will equip you to keep pace with industry updates and conquer the myriad revenue-risking challenges that complicate your work.

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Is Outsourced HCC Coding The Right Choice For Your Practice?

is-outsourced-hcc-coding-the-right-choice-for-your-practice

HCC is also known as hierarchical condition category bank on ICD-10 coding. The coding is assigned to risk scores to patients. Each HCC is mapped to a precise ICD-10 code.

Let MBC handle your HCC Coding so that you can focus on your core practice.

In today’s hyperactive world, it’s easier than ever to connect with colleagues on the other side of the country or the other side of the globe. Many companies are taking advantage of this through business process outsourcing, which allows back-office functions from accounting to IT to be delegated to specialists. MBC Billers & Coders helps health practitioners, and health plan providers find and hire qualified coders.

Here are the reasons why outsourced HCC Coding can be the right choice for your practice:

You Get An Access To Fully Trained, Expert Trainers

When you choose to outsource HCC risk adjustment coding services to MBC; you’d know that you have experts working by your side.

Their coders are fully up to date in the latest coding requirements, including the new ICD 10 codes.

You Get Staffing Flexibility

When you maintain your own in-house staff of coders, you have a limited coding capacity and most importantly your resources have to be updated from time to time.  It will be hard to adjust quickly to changing coding volumes.

You might end up paying more for your in-house coders who have no billing and coding expertise. Furthermore; you stay behind on your coding because the work volume is too much for your staff to handle.

When you outsource to MBC, it can add or subtract coders from your project as needed to ensure that the number of coders matches the coding demand perfectly.

Improved Coding Accuracy & Speed

One of the primary reasons to outsourced HCC coding to MBC precisely is because they work on the latest technological software; they are well-read and updated as per the latest medical billing and coding procedure and guidelines. Therefore; it makes it easy for your staff to communicate. Patient charts and documentation can be uploaded and shared instantly, and your staff can review the finished coding on a chart-by-chart basis. The entire process is private and secure and meets relevant compliance standards.

MBC is a leading outsourced HCC Medical Coding Services and the company has always believed in helping clients with remarkable business solutions and services. Their client base spreads across different corners of the globe and belongs to different industries. Medical billing and coding that they provide have been valued by their clients over the years and the following have remained their area of expertise.

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HCC Coding Services: Achieve Accurate HCC Risk Adjustment Coding

blog-hcc-coding-services-achieve-accurate-hcc-risk-adjustment-codingHierarchical Condition Categories (HCC), a risk adjustment model that has been around for years, but has heightened visibility since Medicare Advantage Plans started to require RAF scores for reimbursement. Today ever commercial payer and coding leader is the eye for the same.

Risk Adjustment – 101

The Risk Adjustment model uses a patient’s demographics which further diagnoses to determine a risk score, which is a qualified measure of how costly that patient’s treatment is anticipated.

Healthy patients who are below-average Risk Adjustment Factor score from the insurance premium are transferred from healthy patients to patients with an above-average RAF score.

Under this payment model, two patients within the same practice can have a different payment rate. This is due to the variety of factors which determines the amount of risk/work involved to maintain the health of a patient.

HCC Coding

CMS uses HCC to compensate Medicare Advantage plans established on the health of their members. It compensates accurately for the anticipated cost expenditures of the patients by adjusting those payments based on demographic information as well as patient as their health status.

The risk assessment information is centered on the diagnosis data drawn from claims and medical records collected by physician offices, hospital inpatient visits and in outpatient settings.

Diseases and conditions are organized into body systems or similar disease processes. The top HCC categories include:

  • Asthma and pulmonary disease
  • Diabetes
  • Major depressive and bipolar disorders
  • Congestive Heart Failure
  • Specified heart arrhythmias
  • Breast and prostate cancer
  • Rheumatoid arthritis
  • Colorectal, breast, kidney

This new risk adjustment identifies patients and establishes the financial allocation offered by CMS towards the twelve-monthly care of every patient.

This new model is established on serious chronic health conditions. Physicians should thoroughly report on every patient’s risk adjustment diagnosis which is based on accurate medical record documentation.

Every detailed diagnosis is used to determine the RAF, therefore the score derived is further used to calculate the reimbursements as well as to know the future cost associated with the patient’s treatment.

The Bottom Line

HCC coding is the great equalizer. Earlier; before the rise of the risk adjustment model, reimbursement was based solely on demographic factors. Since costs are supposed to vary widely in patients, HCC risk adjustment coding can now be widely used to assess patients on the same scale.

To get more information on HCC coding and achieve HCC risk adjustment coding, get instant access to MBC representative. Click here for more details.

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Why Choose to Outsource Medical Billing Services?

blog-why-choose-to-outsource-medical-billing-servicesGetting onboard professional to outsource medical billing services like MBC can dramatically streamline the workflow of your practice, further facilitating an effective communication with your patients. Healthcare is constantly changing, with each year new coding rules and guidelines. It is practically impossible to learn and implement hence; outsourcing medical billing and coding services could be the wisest decision you would be taking for your flourishing practice.

One of the many business questions physicians faces is whether to outsource their medical billing to third-party medical billing services like MBC or do it in-house with medical billing software? Physicians are turning towards outsourcing billing to a medical billing service as they happen to witness the benefits in their practice. After all, they’re the outsourcing medical billers are the professionals and have all the resources to streamline your business practice.

Below mentioned are the benefits of choosing to outsource medical billing services:

Dedicated & Highly Trained Medical Billers & Coders

The MBC outsource medical billing team only has one purpose, to increase the profitability of your practice. They review the payments guaranteeing that the carriers are disbursing the correct amount and avoiding incorrect adjustments.

They are integrated with your existing staff and have the same goals in mind – your practice should make money. They work closely with your staff to ensure an efficient overall workflow and provide training when needed.

Help With The Billing Codes In This Changing Industry

The healthcare landscape is ever changing at an unprecedented rate and medical billing and coding is not spared from the upheaval of change.  To keep up is tough. It requires constant education and vigilance. The renewed and scrapped CPT codes come out yearly, fees change, and rules and regulations seem to vary daily.  Most people just don’t have the time needed to dedicate to this task hence goes on to hire outsource medical billing services like MBC.

Getting Paid Faster

Your practice needs to make money. Cash flow is what we all the time look forward to increasing.

Your revenue cycle time has a significant impact on your bottom line. Outsourcing medical billing submits your claims faster with lesser errors, so you get the payment from payers in the shortest amount of time. Your payments are double checked by the professionals who will further avoid any kinds of errors; resulting in denials being detected upfront. These are worked and resubmitted for timely payment.

The Outsourced Process – Finally Wrapping

The process for outsourcing billing is straightforward. The bills and other documents are scanned and electronically sent or mailed to the medical billing service like MBC. Most billing services take some percentage of the claim amount.

A professional outsource medical billing service MBC takes care of much of the “dirty work” associated with the billing process. It will also follow up on rejected claims, pursues felonious accounts, and even send invoices directly to patients. The convenience is the primary factors to choose outsource medical billing company like MBC.

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Gear Up For Cardiology Coding Guidelines 2019

blog-gear-up-for-cardiology-coding-guidelines-2019

You’d be facing e a whole slew of cardiology coding and reimbursement changes in 2019 – and if the preview of the ICD-10-CM updates has given you the clue of the awaiting changes, you should know that there are a lot of new, deleted, and revised codes to know.

CMS is proposing huge changes for E&M codes that impact your reimbursement and documentation – get the tools to be well-informed for the coming year.

With new ICD-10-CM codes for 2019 coming your way, MBC has tried its best dive into the details.

In the past, we have seen a great deal of ICD-10 code updates; specifically speaking about 450+ code changes along with 320 new additions, 172 coding revisions, and 48 codes converted to their respective parent code.

The notable add-ons include new codes to define misuse of children and adults and to address the increase in human trafficking cases, as well as new codes that expand the T81.4- sub-category for infected surgical wounds which will be accommodating in reporting the depth of infection.

The New Cardiology Code Updates For 2019

However; there were minimal changes affecting cardiology, it’s always advisable to review changes relevant to your cardiology specialty.

Cerebral Infarction Additions

Category I63- Cerebral infarction will be the one added to the below-mentioned codes:

  • I63.81 — Other cerebral infarction due to occlusion or stenosis of the small artery. This code will also include lacunar infarction.
  • I63.89 — Other c000erebral infarction

The New Subcategory Under Category I67-

Category I67- Other cerebrovascular diseases will add the new subcategory I67.85- which is Hereditary cerebrovascular diseases to your coding arsenal.

Under this subcategory, below mentioned are the new codes:

  • I67.850 — Cerebral autosomal dominant arteriopathy with subcortical infarcts and leukoencephalopathy. This diagnosis will also include CADASIL.
  • I67.858 — Other hereditary cerebrovascular disease

Under I67.850 i.e. other cerebrovascular diseases there’s a new code which instructs you to report any associated diagnoses. This includes epilepsy and recurrent seizures G40 -; cerebral infarction I63.-; and vascular dementia F01.-.

Some of the New Miscellaneous Cardiology Code Revisions

  • I22.8

Subsequent posterior true transmural Q wave myocardial infarction

  • T46.4X

Angiotensin-converting-enzyme inhibitors

  • T81.11

Post-procedural cardiogenic shock

  • T81.11XA

Post-procedural cardiogenic shock, initial encounter

  • T81.11XD

Post-procedural cardiogenic shock, subsequent encounter

  • T81.11XS — Post-procedural cardiogenic shock, the sequel
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