Tag Archives: medical billing

Top 3 Practices for Cardiology Medical Billing Services

While hundreds of medical billing companies have been introduced over the years, only a few of them can effectively optimize cardiology billing systems for maximized revenue streams and faster payments. Most established medical billing companies concentrate on various practices such as pediatric billing, OB/GYN billing, and orthopedic billing. However only few offer expertise in cardiology medical billing due to the rich complexities involved with this particular type of billing.cardiology medical billing

We’ve researched many potential providers of cardiology billing services to narrow it down to three companies. Below we provide the firms that offer specialized cardiology medical billing services.

1. Practice Management

Established in the year 1995, Practice Management offers some of the industry’s leading medical billing services with expertise in serving cardiologists. Since then, the firm has been assisting doctors and medical practices to run their ventures more efficiently. Practice Management uses a fee-based model to evaluate billing service fees, but also tailors custom programs for each individual client. This method is based on three factors: payer mix, practice’s volume, and medical specialty.

Practice Management offers comprehensive medical billing services with proficiency in cardiology medical billing services. There are few medical billers with a significant range of medical billing services such as Practice Management. The company offers medical billing services in the following fields: allergy, cardiology, electrophysiology, dermatology, FQHC, ENT, family practice, internal medicine, health center, gastroenterology, OB/GYN, neurosurgery, pediatric, orthopedic, pain management, podiatry, vascular surgery and urology. The venture is also involved with the administration, electronic health records credentialing, billing management and medical billing consulting.

Following all the state and federal laws, Practice Management provides a custom-tailored cardiology billing services made to lower overhead costs and raise reimbursement growth as well as revenue and cash flow. Its cardiology billing system focuses on coding, cardiology billing security credentialing, and procedures (angiography, cardiovascular monitoring, atherectomy, cardiac catheterization, implantable, echocardiography, nuclear studies, evaluations, and stent), consultation and follow-ups. The company’s cardiology billers merge advanced technology with efficient revenue management to provide these services. To learn more about Practice Management’s cardiology medical billing services, click here, or visit the website at MaximizedRevenue.com

2. Billing Paradise

Billing Paradise is a medical billing company which was started in the year 2000. It’s one of the remaining companies providing cost-effective outsourcing remedies to the physicians. It brags of qualified healthcare specialists, professional coders and medical billers who improve collection premiums as well as increasing physician reimbursement.

Billing Paradise provides medical billing solutions in the following fields: cardiology, family practice, dermatology, internal medicine, endocrinology, OB/GYN, urology, gastroenterology, neurology, ophthalmology, rheumatology, optometry, nephrology, pediatric, otolaryngology, surgery, podiatry and physical therapy. Its billing program includes critical processes like claims submission, charge entry, account receivables, a point of contact, customized reports and denials management.

Billing Paradise is well informed with insurance carrier policies which make it offer exemplary cardiology billing services. Besides, it handles patient billing functions, charge postings and reviews and billing inquiry calls. Using a reputable EHR, efficient AMR software and following the correct cardiology billing process, the company ensures its customers (physicians) get paid for the services provided. To learn more, click here.

3. 5-Star Billing Services Inc.

With years of experience in the market,  -Star Billing Services provides professional medical billing and services related to medical practitioners. The company boasts of a proficient team of top cardiology billers with submission system and efficient appeals that raise cash flow lowers denials and cuts down self-billing costs.

5-Star Billing Services focuses in the following areas: cardiology, family practice, dermatology, internal medicine, gastroenterology, mental health, medical billing, occupational therapy, OB/GYN, orthopedics, oncology, ophthalmology, podiatry, pain management, pediatric, sleep medicine, physical therapy, rheumatology, surgery, speech pathology and urology.

5-Star Billing Services believes in account reimbursement and the best practices of medical billing. Its billing system lowers expenses and raises revenue. The business submits claims electronically for the remote access patient’s data. The company manages receivables through coding, AR cardiology tracking, patient relations, client reporting, collections, and managed care contracts and fees analysis.

3 Complex Areas of Medical Billing Worth Outsourcing

Medical billing refers to the process of surrendering insurance claims and looking into them with the intention of receiving payments for services offered by healthcare providers.

With the various complex forms of medical billing and coding, an expert biller can help in improving revenue performance for the health providers. Hence, it is advisable for medical professionals or clinics to outsource such complex areas to experienced medical billing companies or consultants.medical billing outsourcing

Medical billing is an important step in settling health insurance claims for any healthcare institution. The following three areas of medical billing are worth outsourcing because of their complexities. Each of them offers its fair share of hurdles and challenges that require keenness of an expert medical billing specialists.

FQHC Billing

Termed as Federally Qualified Health Center (FQHC) Billing in full, it takes account of physicians’ services, along with those additional services carried out by a physician. Billable visits include face-to-face encounter between physicians and the patients.

FQHC billing covers the services rendered by Physician Assistants (PA), Nurse Practitioners (NP), Visiting Nurses (VN), Certified Nurse Midwife (CNM), Clinical Social Worker (CSW) and Clinical Psychologist (CP). FQHCs can help in executing billing for face-to-face, therapeutically essential visits provided by dentists, chiropractor, optometrist, or podiatrist.

As long as the medical services meet FQHC requirements, the service provided on the list of qualifying visits will guarantee payment. The complexity of FQHC billing is that all the furnished healthcare services must reflect the scope of practice of every state for the practitioner. Furthermore, it necessitates that all HCPCS codes must reveal the practical services furnished in the claim. As a result, many of these health centers opt to outsource their needs via FQHC billing services.

Surgery Billing

medical billing codesSurgery billing ensures that healthcare providers submit an accurate CPT-4 code, which clearly gives a comprehensive account of the surgery done for all the services furnished in the package. Professional billers can help you submit well-defined and accurate claims indicating the exact date of surgery.

Such vital measures take in the dates when the healthcare providers furnish the full global period, which may include surgical care only, postoperative care, or shared postoperative care. Surgery billing has complex processes because the surgery billing department must get in touch with the patients’ insurance company for the verification of their coverage details.

It also helps in obtaining any precertification or authorization for the services rendered by your surgeon. It becomes a challenge if your physician did not provide the billing office with accurate insurance information. Therefore, a dedicated billing company will always help to streamline such mistakes by contacting the patients and the physicians immediately.

Cardiology Billing

When it comes to cardiology, the financial strength of the practice directly correlates to the timely settlements of insurance claims. Outsourcing cardiology billing services to a qualified billing company stands out as one of the vital decisions healthcare providers can make concerning their business practices.

Cardiology billing companies must have the necessary expertise for handling complex procedures offered by its processes and modifiers. Cardiology billing services come with many challenges compared to other specialties because of the sophisticated medical procedures.

The last few years have seen many changes to the billing and coding regulations resulting in fee cutbacks for cardiologists. Therefore, it is necessary to hire cardiology billing experts to carry out billing for cardiologists. They will provide flawless, undeniable billing and coding services to achieve maximum timely settlements for your medical claims and practices.

Outsourcing the above forms of medical billing and coding helps in translating healthcare services quickly into billing claims. In any healthcare facility, medical billers play the vital role of following up the claim to make sure that healthcare providers receive timely payment for their services.

3 Medical Billing Companies That Specialize in Pediatric Billing

Medical professionals in the pediatric field can benefit enormously from hiring an specialized billing company. Financial work is sometimes better outsourced to companies that know what they are doing and have done it for several years.pediatric billing practice management

Hiring these types of services will allow you to focus on your profession as a pediatrician at the same time you improve your revenue and cash-flow. Here are 3 medical billing companies that specialize in pediatric billing:

1. Practice Management

At the top of our list of proficient pediatric billing providers, Practice Management has offered cost effective medical billing and coding solutions for medical professionals for many years now. Some of the pediatric medical billing services you can outsource with them include:

  • CPT and billing code reviews, especially for codes that are old and might have become obsolete
  • Software management services. This includes installing, setting up, and running novel analytical systems
  • Handling both patient’s registrations and the procedures involved
  • Follow-up on Claims until they are cleared out
  • Revenue Cycle Management
  • Medical billing and coding requirements for the following pediatric procedures: hearing screening, newborn care, vision screening, preventive services in medicine, laboratory and developmental behavioral screening.

The extensive experience that Practice Management has achieved in the industry has allowed them to gain an unparalleled reputation. Optimization of pediatric billing and coding practices can be easily done when hiring Practice Management for pediatric billing.

2. AdvancedMD

Another experienced company in this list, AdvancedMD also focuses on attending pediatricians’ billing and coding needs and requirements. It provides efficient services following top quality standards. Some of its services include:

  • Submitting transactions to clearing house
  • Maximizing clients’ revenue cycle management
  • CPT code decoding, especially difficult cases
  • Patient scheduling
  • Verification of details
  • Processing insurances
  • Financial consultations

AdvancedMD also offers financial advice along with billing and coding services for pediatricians. The software they use is powerful and they are ethical and transparent in their services. The company prides itself on its efficiency on solving financial issues. They also have apps available to improve your medical practice including the AdvanceMobileDoc and the AdvancedEHR apps.

3. CureMD

Last but not least, CureMD’s priority is helping pediatricians solve their billing and coding issues fast. According to a survey, all of CureMD clients stated that hiring them was a long-term plan which testifies to CureMD’s reliable solutions. Some of their services include:

  • A billing manager that assess and monitors your Revenue Cycle Management
  • An implementation manager that takes care of processes and follow-ups
  • Complete financial reports created by state-of-art software
  • Insurance policy and patient statements’ management
  • Management of new code sequences
  • Decoding difficult codes

They also guarantee the following to their clients:

  • 20% collections increase in first months
  • 96% of claims will be paid upon first submission
  • A/R days dramatically reduced
  • Handling of ICD-10 so no or little disruption is made
  • Transparent services where you will be able to see where every penny is going

Medical professionals such as pediatricians are earning thousands of dollars each day. It is of utmost importance that the money is received and it’s not lost in a faulty billing and coding process. With any of the three billing companies you can rest assure that your billing and coding needs will be fulfilled in the most appropriate manner. The purpose of hiring a medical billing company that specializes in pediatric billing is to save you money in the long run.

5 Tips to Optimize Your FQHC Billing Practices for 2016

Contrary to what many people believe, successfully maintaining the revenue of a Federally Qualified Health Center (FQHC) is a relatively complex undertaking. This is mainly due to the fact that there are several different departments that need to work efficiently and in tandem so as to maximize revenue from patient billings.

improve FQHC billiingIn order to lower costs, improve patient satisfaction and increase revenue, here are 5 tips to optimize FQHC billing practices, these include but are not limited to the following.

Invest in professional FQHC billing consulting services

As earlier mentioned, billing systems for a Federally Qualified Health Center (FQHC) is no walk in the park; it is a highly technical and demanding activity that demands for professionals.

In this regard, it is important to engage the services of a professional medical billing consulting firm to assist with best practices of patient billing and coding so as to maximize efficiency with FQHC billing software systems and significantly improve overall revenue collection figures.

FQHC billing consultants usually suggest proposals for improving billing processes. These suggestions may include an improvement in processes such as software file maintenance, claim and payment receipt tracking, fee schedule analysis as well as processing of insurance claims.

Understand and appreciate the overall cycle of revenue

To improve FQHC billing processes, it is important to fully appreciate the overall cycle of revenue of that particular facility. Even though many facilities tend to believe that the submission and subsequent payment of claims forms the actual billing process, the truth is that the billing process begins immediately a patient makes an appointment and ends after the patient has been attended to and pays the billed amounts.

The billing cycle should therefore properly establish the requisite channels from patient registration, charge entry, payment posting and ending with the necessary follow up on accounts receivable.

Ensure all charges are captured

To avoid challenges with FQHC billing, it is important to ensure on a daily basis that all appointment schedules are reconciled with encounter forms. This is one simple way of ensuring that each and every patient gets attended to and the correct charge corresponds to each patient that’s been attended to in the facility.

Typically, the sum of the charges on the encounter forms must then be reconciled daily in the reports that are generated by the management system. By doing this, the facility will be able to easily track forms that may be missing so as to ensure revenue maximization.

Review and accurately update fee schedules

It is important to review fee schedules as the market demands, be it annually, semi-annually or quarterly. It is important to ensure the charges are not only realistic and set for all codes but also accurate. Make a point of comparing the fees with other Medicare or contracted fees charged by other players. Since insurance companies tend to pay lower than the billed amount, billing lower than the amount contracted will result in revenue loss for the facility.

Accurately collect patient information

With each visit, make sure patient insurance details are accurately captured. As is the norm, patients should always produce copies of their insurance card. The person in charge of billing should also make a point of enquiring from patients any changes of address or insurance companies.

It is also important to verify patient social security numbers, this is especially so if it is the first visit. Verifying these details is important because sending a claim to the wrong company or address is bound to lead to significant delays in revenue generation and collection.