May 15, 2014
Radiation oncologists keep facing reimbursement cuts, coding changes, regulatory changes, complex revenue cycle processes and compliance issues. All these factors impact reimbursement for providers.
2014 will prove to be a busy year for radiation oncology providers due to important Medicare-related dates and deadlines. Various coding changes relevant to radiation oncology will also be implemented this year which might cause payment issues, if not handled accurately. For instance, the simulation code family has been updated for reflecting changes in process of technology and care in a better manner. Another code has been created for describing respiratory management at simulation.
ICD-10: the new code set is round the corner and since ICD-10 Clinical Modification is used for diagnosis coding, physicians, including radio oncologists will be affected by ICD-10 in a significant manner
Medicare Electronic Prescribing (eRx) Program: Group practices and eligible professionals who weren’t electronic prescribers under 2012 or 2013 eRx Incentive Program will have to face payment adjustments this year. Many radiation oncology providers would not be able to meet the criteria for an eligible prescriber, failing to avail the eRx incentive payment or penalty
Due to new compliance review procedures, reimbursement challenges have increased for the current radiation oncology billing and coding methodology. There is a strong need for skilled billers and coders who can handle the intricacies of reimbursement management for this specialty. Only a well-trained team will be able to review practice protocols on a regular basis. Review of the efficacy of medical services will also be required to determine their costs and evaluate appropriate payment from Medicare, Medicaid and private insurance companies.
Need for streamlined radiation oncology billing:
There is a unique set of requirements that must be met for successful radiation oncology billing. With the advancements in this specialty, compliance regulations for medical billing coding has also become complex. Even radiation treatments have become complex due to new technology, making it important to streamline billing in order to stay in business.
How to maximize reimbursement?
Financial performance of a radiation oncology practice depends greatly on the efficiency and accuracy of coding and billing practices. You will have to hire expert coders and billers or train your existing billing team to deal with reimbursement challenges.
Considering the lack of time, money and resources, many radiation oncologist have started hiring a billing partner to streamline their billing procedure and strengthen their RCM.
Companies like Medicalbillersandcoders.com have a team of skilled billers and coders that has been helping radiation oncologists across 50 states in the US survive revenue challenges. MBC works with the aim to help providers, including radiation oncologists maximize revenue and minimize claim denials.
Our team is well-trained in tackling all radiation oncology billing and coding challenges and also possess sufficient knowledge of CPT 2013, HIPAA compliance and electronic health record system. Only the latest technology is used to handle the revenue cycle management of radiation oncologists so, you can be assured of accurate and timely results without worrying about reimbursements.
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