Medical practices leave an estimated twenty percent of their revenue on the table
as a result of ineffective billing. Cardiovascular physicians, subject to one
of the most complex revenue cycles in the business, suffer the most from uncollected
bills. Fortunately, cardiology practices have a secret weapon in revenue collection:
specialized cardiovascular billing services.
High-Stakes Medical Billing
billing services offer their clients a distinct advantage
in securing full reimbursement. An experienced third-party cardiac billing
expert offers the medical knowledge and coding expertise to navigate insurance
company billing procedures.
What makes cardiovascular
billing more challenging than other medical collections?
Three factors contribute to the complexity:
- Cardiac medical procedures are more complicated than most other specialties,
and this complexity is reflected in billing codes and rules
- Cardiac coding
and follow-up procedures require a knowledge of specialized cardiovascular
- Cardiology treatment is simply more expensive, making collections
from patients and insurance companies especially challenging
As a result, cardiovascular treatment entails more complex contractual adjustments
than most medical procedures.
Getting Results with a Cardiovascular Billing Service
A professional cardiovascular
billing service offers the expertise to address
these challenges and deliver results. Cardiac billing specialist Carl Mays
cautions against relying on a general medical
billing service for cardiology
claims. Companies that lack a wide range of cardiology
find it difficult to track underpayments. This is due to multiple procedure
rules, nuclear camera rules, and complex contractual adjustment rules. In
other words, it takes a good deal of expertise to make sure procedural details
dont get lost in the mix.
billing experts can:
- Answer specific medical questions about cardiovascular procedures
accurate terminology in reporting and coding cardiovascular diagnoses
specialized cardiac terminology and insurance benefits to patients
effectively with the elderly patient population to improve the collections
- Appeal claims denied by insurance companies
- Track claims in a context of
multiple procedure rules
- Avoid typical insurance coding pitfalls
billing software is not up to the task of cardiovascular billing,
explains Mays. The capabilities of the billing software used by generalist
billing companies are exceeded by the multiple procedure rules required for
cardiovascular billing. As a result, billing services that rely on automated
software applications are unlikely to track insurance underpayments effectively.
Ineffective tracking alone can reduce a cardiovascular practices collections
by seven to ten percent.
billing services offer cardiologists an advantage in collecting
from insurance companies and patients. The complexity of this area of medicine
demands a billing partner with specialized knowledge and experience. With a
billing service, medical practitioners can focus on patient care and
leave collections to the experts.