As an Urologist, you are an expert in the field you work, the same way your facilities accounting department, from where the revenue generation is being handled, also requires a group of experts. Expertise in Urology medical billing and coding and revenue cycle management can make all the difference for your facilities bottom line.
Do urologists and nephrologists actually catch a few brakes with the ICD-10 change? This move may very well streamline your work in a few regards, as ICD-10 codes are clearer in the Urology specializations. You will see some new mix of combination codes for patients with co-morbidities like diabetes to which you and your billing department should get acclimated too. What’s more, where ICD-9 had a few codes for a patient with diabetes and renal failure, there will be just a single in ICD-10.
The information available out there that can help streamline your training operations. However, it takes exceptional mastery in Urology revenue cycle management to not just expect and plan for every all the changes in ICD-10’s implementation, additionally also uncover chances to develop your Urology practice.
Since the extent of the ICD-10 conversions can be contrasted with the Y2K date correction change, you can anticipate that critical changes to your facilities office procedures, which are anticipated to influence each part of business operations including your Urology medical billing and coding. ICD-10 likewise obliges you to expand your level of medicinal record documentation over all areas of administration. Both you and the coders will collect and document more information on patients to legitimize codes submitted for claims.
During the transition, said to be the most noteworthy overhaul of the medical billing and coding framework since the time when computers were first introduced, your practice requires a physician revenue cycle management team with a full cadre of support and resources especially designed to prepare your team to:
- Arrange the overall efforts
- Investigate the impact
- Contact the merchants/vendors
- Financial plan for costs
- Execute software and system upgrades
- Conducting internal coding audits
- Train staff for upcoming healthcare transitions
- Conduct external testing for transactions
- Keep the revenue management in a productive flow
- Augmenting the income stream
It takes the in-depth skill of an industry insider in Urology revenue cycle management to see how to understand how to most viably transit into ICD-10. Expert medical billers and coders in Urology are equipped with the critical resources, knowledge and know-hows in dealing with claim denial, latest CPT and ICD-10 codes, including the healthcare payer norms. They invest significant time to stay abreast of all the rules, edits, surgical coding regulations and documentation requirements unique to Urology revenue cycle management. That investment translates to increased revenue for your practice.
Working with specialist coder’s results in a higher satisfaction ratio for the physicians, as they know that, they can now fully concentrate on their core work area, which is treating patients, while the experts in the billing field will look to augment their income cycle. Without the perfect medical coding, billing and collections team in place, there’s very little chance for declining revenues or a possibility your healthcare revenue cycle management will take a hit. Denial rates potentially could increase between 100 and 150 percent, AR days could increase by 20 to 40 percent, prolonged declining payments and a near doubling of claim error rates.