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Increasing Revenue Flow with Cardiovascular Billing Services

Untitled Document 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
Specialized cardiology 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:

  1. Cardiac medical procedures are more complicated than most other specialties, and this complexity is reflected in billing codes and rules
  2. Cardiac coding and follow-up procedures require a knowledge of specialized cardiovascular terminology
  3. 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 billing experience 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.

Cardiac billing experts can:

  • Answer specific medical questions about cardiovascular procedures
  • Ensure accurate terminology in reporting and coding cardiovascular diagnoses
  • Explain specialized cardiac terminology and insurance benefits to patients
  • Deal effectively with the elderly patient population to improve the collections rate
  • Appeal claims denied by insurance companies
  • Track claims in a context of multiple procedure rules
  • Avoid typical insurance coding pitfalls

Medical 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.

Third-party medical 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 cardiac billing service, medical practitioners can focus on patient care and leave collections to the experts.

Sources
ClaimCare.net

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