January 10, 2014
Is your oncology practice suffering from claim denials and underpayments? If the answer is yes, seeking assistance from a billing company can bring your worries to an end.
Common oncology medical billing services issues:
Compared to any other speciality, oncology has more complicated denied claims which require an effective denial management solution. The 2010 Affordable Care Act has increased administrative and financial pressures for oncologists. With the implementation of new technology, radiation treatments are becoming more complex, affecting coding and billing tasks for oncology.
Reimbursement cuts, regulatory and coding changes, complex RCM processes and compliance issues are some of the problems that affect revenue of oncology practices. Due to time constraint and lack of skilled staff, financial performance of such practices has gone down because it is affecting oncology medical billing and coding tasks.
Lack of accuracy in oncology medical billing and coding is the main cause of claim denials. In most of these cases, either providers don’t have the required time to train in-house coders and billers or they don’t have the required money for implementing system changes.
How can a medical billing company reduce claim denials?
A billing partner can help oncologists maximize reimbursement and minimize claim denials with their expert knowledge about the intricacies of current coding and billing practices.
Billing companies offer a well-trained team of CPT coders and billers who are capable of tackling every single oncology billing challenge with precision
For providers, outsourcing will eliminate the headache of hiring or training staff in oncology procedures, new and revised codes and any other modifications in coding and billing
Coders will assign codes in a careful manner to ensure timely reimbursement. You also don’t have to worry about training them or making system changes for ICD-10 implementation
An expert team will be taking care of underpayment issues, timely claim submission, follow-ups and compliance with HIPAA and other regulatory changes
Even if you or your staff is on holiday or leave, billing partner will take care of your claims and revenue cycle management
Scrutiny and analysis of claims will be done on a regular basis to know the reason behind claim denials and ways to solve these issues
Issues like loss of time and reduced staff productivity can also be tackled through outsourcing
Medicalbillersandcoders.com is a reliable medical billing company that has been providing effective denial management solutions to oncologists across the US. From maintaining accuracy in coding and billing procedures to ensuring compliance to HIPAA and other reforms, the team at MBC is well-trained to handle all oncology billing challenges.
Our aim is to help you reduce claim denials and increase reimbursements by timely claim submission and follow-ups with insurance companies. While our expert team handles your billing requirements, you can concentrate on ensuring accuracy in clinical documentation and offer quality patient care. You can either take the complete suite of our services or customize it as per your requirements.
Accounts Receivables / Claims Denials