The financial well-being of any Urology practice depends on timely billing and getting the reimbursement as early as possible. No wonder then that most professionals prefer to outsource their Urology medical billing to a professional service that knows the intricacies involved in the various aspects of urology billing and modifiers. Did you know that most of the urology practices are content leaving almost 10 to 20% of their healthcare reimbursements uncollected due to procedural lapses and lack of technical knowledge and relevant software?
This fact is backed by the American Accreditation of Ambulatory Surgery Facilities’ Guide for Third-Party Reimbursement of Facility Fees which claims that the urology specialty is one of the least appealing of practices from the reimbursement point of view. However, this problem can be overcome when urology medical billing is outsourced to an efficient billing and coding company that knows how to prevent billing errors and other coding mistakes commonly committed by others.
Firstly, when you outsource your urology medical billing to an experienced and professionally managed company, you can realize improved collections leading to better revenues. You will also notice your payments being accelerated leading to the reduction of unnecessary stress. A professionally managed company will employ well-trained coding and billing staff who keep up-to-date with changes in the urology codes and other payer requirements from time to time.
This way you can ensure that claims submitted are accurate and totally error-free, hence there can be no delay in payments. Another important factor to be taken into account in urology billing company is understanding the denial process and adopting ways and means to avoid denials by appealing them swiftly and efficiently, leading to speedy reimbursement. The billers and coders are specially trained to understand complex urology medical billing codes and rules and other terminology related to this particular specialty.
Secondly, for instance, catheterization codes can often be very confusing and will mostly depend on the clinical scenario for specific cases. Hence, trained professionals always double-check the exact procedure that has been performed so that the claims do not get bogged down by unnecessary denial. Similarly, for cases like urethral dilation, a commonly treated condition in urology practice CPT codes need to be assigned correctly for the first and subsequent dilation, failing which reimbursement can be denied. When urology billing is handled by professionals, there is zero chance for denial and full reimbursement is guaranteed.
Finally, a professionally managed medical billing and coding company help practices keep the office expenses under control, thanks to the efficient services and advance software used. When you leave the billing to an experienced and efficient urology billing company you will notice a steady increase in your reimbursements, allowing you to focus on your practice and offering better care to patients.
Such urology billing companies can help attain a claims adjustment rate ranging from 12 to 15% which is considered to be much better than the prevailing average that ranges from 20 to 35%. Moreover, the accounts receivable (AR) also needs to be kept under control, which is possible only by dedicated follow-up.