Medical billing is the process of submitting claims to an insurance company and following up on them to receive payment for healthcare services. It is a highly complex domain that requires much knowledge and experience.
The situation is more complicated when dealing with urology medical billing. This is why you need a urology medical billing specialist to handle this. A professional in this field is familiar with the rules and codes of urology medical billing.
Here are some services that a third-party billing company can add to your urology practice:
You Don’t Pay to Have Your Credentials Included
The urology medical billing company introduces your practice to the carrier networks you select without charge. You only pay a fee per carrier when integrating with their network.
Fee Schedule Analysis
Your practice can also enjoy the ability to track and discover improper reimbursements due to high-quality fee schedule recording and analysis.
Workflow Consulting
Urology medical billing and coding companies have years of experience in the domain and advise on the personnel and resources to streamline practice operations. They include billing software, record documentation, etc.
Carrier Contract Advice
Several practices face a lot of trouble with their urology billing due to the kind of non-network status contracts they agree to, especially with challenging carriers. Urology billing companies can offer expertise and resources to help correct such a mistake.
Coding Expertise
A urology billing company has expert coding staff that helps medical institutions analyze the codes from provider documents. These professionals are able to extract and simplify the data for accuracy and completeness. Such urology billing services also include compliance and audit survival for your practice.
Payment Based on Results
Due to the nature of the claim submission and redeeming procedure, urology billing companies charge based on results. A healthcare provider pays a fee only after the billing company has obtained its reimbursement.
Fast Claim Submission
A urology billing company promptly submits claims for your practice. This prevents delays and write-offs due to wrong submissions.
Urology medical billing companies have teams with a strong reputation and expertise in medical coding. Mostly, medical billing for urology starts with accurate and complete medical record documentation. Hence, it is the way to translate your intellectual services and labor into a code for bill insurance. It also helps document the value of your service.
The most noteworthy coding techniques in urology medical billing are the ICD-10 codes. These medical billing codes for urology are currently the cornerstone of classifying diseases, general health issues, injuries, and in-patient procedures in morbidity settings. This is why companies such as Outsourced Billing, focus on medical coding skills and business processes to meet the needs of independent physicians.
Therefore, the transforming of a provider’s narrative or description of the injury, disease, and procedures into codes for the insurance claim is the fundamental purpose of medical coding. This is the reason, professional certified medical coders ensure higher reimbursement by properly aligning services with a medical diagnosis. Consequently, this doesn’t just assure proper payment but also minimizes denials that result from the incorrect association of diagnosis and procedure codes.
Financial reporting provides the insight needed to address the root causes of charge issues. It also helps in the resolution of process inefficiencies, improves compliance with the code, and ensures the integrity of all claims. Administrators and office managers can quickly review performance and trends, evaluate payer performance, drill down into the data to analyze root causes by reason, and assess the financial impact of claim denials.
Based on the experience most third-party medical billing services have working with physicians and healthcare providers, they understand the revenue cycle success and how that starts at the patient registration to continue throughout the claims cycle. Accurate financial data and patient demographics upfront result in, reduced denials, fewer returned statements, and keeping rejected claims to a minimum. Claim cleanliness is the critical component that stops the denial from the source, and the following parameters impact it:
– Patient registration data quality
– Prior authorizations
– Non-covered services and medical necessity management
– Eligibility and benefits coverage
– Clinical documentation quality
– Coding
– Claim editing
– Payor rules & mandates
The key to successful Revenue Cycle Management is for you to understand all revenue sources for your medical practice.
Hiring a team such as Outsourced Billing helps improve profitability by measuring, monitoring, and managing all aspects of your revenue cycle.
Indeed, Outsourced Billing has excellent tools and years of urology medical billing service experience. Its billing solutions optimize revenue capturing from claims remittances, patients, and evidence-based data.
Collecting data from all these sources will help secure your practice’s healthcare payments and enable it to become more profitable. Outsourced Billing is one of the most reliable medical billing companies for urology.
