2013 brought new changes to orthopedic billing and coding, making timely reimbursements even more daunting for physicians. At a time when reduction in fee schedules and Medicare cuts have affected the financial health of orthopedic practices, preparation for ICD-10, compliance to new technology and dealing with varied payer mix has increased billing challenges for them
Are these billing challenges eating up your revenue?
Due to time constraint and lack of skilled staff, a significant number of insurance claims get denied and are not re-submitted for appeal, disrupting the cash flow. Billing has become daunting for orthopedic practices due to various factors including:
- Various procedures are used by orthopedic to treat different conditions and diverse payers value and interpret these conditions differently
- There has been extensive revision in orthopedic coding in 2013 with 500 code changes in orthopedic surgical coding along with a complete overhaul of nerve conduction study codes, new spine fusion code and two new sets of elbow and shoulder revision codes.
- ICD-10 will make coding even more complex and small orthopedic practices with limited resources will be the worst hit
- Patient numbers are rising and a hectic schedule is leading to errors in documentation, coding and billing
- Considering cash flow issues, practices are not able to hire expert billers or invest in the latest equipment and technology
How can you overcome these challenges?
Physicians handling the operational and clinical procedures are left with very little time to balance between the rising billable targets, new coding, billing changes and patient care. Orthopaedic procedures are expensive and since a small error can lead to huge revenue losses, outsourcing your billing services can reap benefits for your practice.
- With streamlined billing services your account receivable will be managed effectively
- Your income will improve as experts will be performing round the clock claim processing
- You will get to enjoy easy access to patient date and other financial information
- There will be transparency in the revenue cycle
- A secure network will be solving issues related to billing
- Quality assurance checks will be performed on a regular basis
- You will be able to access timely progress reports of a filed claim
If you outsource your medical billing services, your practice will have a team of experts entirely focused on managing your revenue cycle, dealing with unpaid claims, solving any billing or coding issues and offering you timely feed backs and reports.
Billing partners such as Medicalbillersandcoders.com have an expert team that offer quality billing and coding services to orthopedic practices across 50 states in the US. MBC not only helps orthopedics identify billing challenges caused by healthcare reforms but also offer remedial solutions for tackling underpayments. Our aim is to help you reduce the impact of coding and billing changes on your revenue cycle. While our team of experts handle the headache of claim filing, denial management and follow-ups, you can give more time towards quality patient care.