As a 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-how in dealing with a 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.
Medical Billers and Coders (MBC) is a leading medical billing company providing complete revenue cycle solutions. To know more about our urology medical billing and coding services, contact us at info@medicalbillersandcoders.com/888-357-3226.
FAQs
1. Why is specialized urology medical billing and coding important for urology practices?
Specialized expertise in urology billing and coding ensures accurate reimbursement, reduces claim denials, and optimizes revenue cycle management, ultimately benefiting the practice’s bottom line.
2. How has the transition from ICD-9 to ICD-10 impacted urology billing?
ICD-10 offers clearer, more specific codes, making it easier to address co-morbidities like diabetes and renal failure, streamlining the coding process and improving accuracy in billing for urology practices.
3. What challenges does the ICD-10 transition present for urology practices?
The transition to ICD-10 requires extensive documentation, updates to billing procedures, and more detailed patient information to justify submitted codes, all of which impact the practice’s revenue cycle and efficiency.
4. How can expert medical billers and coders assist urologists during the ICD-10 transition?
Urology medical billing experts are equipped to handle the nuances of ICD-10 codes, avoid claim denials, and ensure compliance with payer requirements, enabling a smoother transition and optimized revenue flow.
5. What happens if a urology practice doesn’t have an expert billing team in place?
Without expert coders and billers, a urology practice risks significant revenue loss, increased claim denials, longer accounts receivable days, and overall disruption in its financial performance.
