Last updated by TechPrate on September 5th, 2021 at 11:00 pm
Every specialty in the medical field has its own unique set of capabilities. Similarly, it requires a unique set of expertise to manage operations of every specialty practice distinctively.
Regarding this factor, practitioners find cardiology billing services as a time-intensive and tough job. Because just like its medical obligation, cardiology is also a complicated field to operate in terms of revenue cycle management.
Cardiology is tough because it compromises versatile techniques and a multitude of technologies to proceed with business operations. Therefore, cardiologists should always hire well-qualified medical billers who have the essential expertise to understand and adopt changes in the medical billing and coding field.
Moreover, practitioners should also understand the fact that they have to comply with several conditions and deal with laborious tasks with smart moves. These varying conditions depend upon the changes in the medical billing and coding rules, evolving federal policies and payer’s requirements.
In order to bring effective solutions, practitioners should streamline revenue cycle management. For this purpose, they can outsource medical billing services to a professional billing company that can help them to compile and submit more claims. Because the higher the number of clean claims are submitted to the insurance company the more the revenue growth for your business.
When you outsource medical billing services then you could allow expert medical billers to drive abstract physician operational notes. It also helps them to find sufficient time to focus on their patients. Hence, they can also elevate their customer business by providing a satisfactory experience to their patients.
Despite this, practitioners can also adopt innovative solutions for effective cardiology billing services in the following ways;
1. Understand the CPT Codes:
The efficiency of any revenue cycle management is solely dependent upon the knowledge of CPT codes. It refers to “Current Procedural Terminology”. Therefore, practitioners must make sure that they hand over their medical billing services to a knowledgeable staff that has expertise related to cardiology codes and HIPAA compliance.
Before learning more about the details of cardiology billing and coding, let me share more information about the fact that cardiology coding. It comprises of 26 new CPT codes with 11 topped up codes. Moreover, there are 450 changes in the ICD-10-CM coding system so far.
2. Comply with Coding Changes:
Practitioners must be familiar with the fact the medical coding world is ever-evolving. Therefore, it is their consistent need to hire professional billers for cardiology billing services who can use the following codes for the leadless pacemaker.
Leadless pacemaker 33275 includes the following components;
- Imaging guidance.
- Transcatheter removal of a permanent leadless pacemaker.
- Revised right ventricular.
Therefore, practitioners should prefer to find a well-experienced medical billing company that updates itself to gain knowledge of new updates in the medical billing and coding subject of your practice. Hence, it is wise to analyze the qualification and experience of the staff of a medical billing company.
Moreover, they should be able to comply with the changes in Cardiology ICD-10 codes. Because there are some minor changes in the ICD-10-CM codes for cardiology that can affect the performance of your practice’s revenue cycle management.
For your knowledge, I have also mentioned a few changes in the ICD-10-CM codes for cardiology that have a major influence on the performance of medical billing services, especially for cardiologists.
Here is the list of new medical codes for Cerebral Infarction (163);
89 – For cerebral infarction.
81 – For cerebral infarction due to occlusion or stenosis of the small artery. It also accounts for lacunar infarction.
Cerebrovascular Disease (I67) Has a New Subcategory:
858 – For other types of hereditary cerebrovascular diseases.
850 – For cerebral autosomal dominant arteriopathy with subcortical infarcts and leukoencephalopathy. It also accounts for CADASIL diagnosis.
Thus, whenever you search for the best cardiology billing services then you should make sure that the company has sufficient resources and solutions to make your revenue cycle management more efficient. When professional medical billing specialists incorporate innovative billing solutions then they bring remarkable results for your practice in terms of increased revenue.
3. Assessment of Accurate Medical Condition:
Do you know why most of the medical claims end up in the form of denials and rejections? According to a recent study, 60% of claim denials occur due to incorrect information about the medical condition. It mainly happens due to the lack of coordination between the front end and backend staff of the medical business.
Hence, practitioners should make sure that they implement advanced practice management systems that allow the healthcare professional to easily communicate with medical billers.
Although, it is very expensive to implement, maintain and upgrade such a medical billing software system. However, practitioners can also make a partnership with a medical billing company. In this way, outsource cardiology billing services allow you to execute administrative operations at the fraction of your existing IT expenses.
Because a billing agency only charges a fixed percentage from the revenue they collect on your behalf. The more claims they will reimburse for your business, the more revenue they would be able to collect. In this way, they can ensure profitability for your business if they would add value to your business to achieve mutual business success goals.
Therefore, they would always pay attention to every fine detail while preparing and submitting claims. For this purpose, they would implement innovative software solutions to add proficiency and efficiency to your revenue cycle management.
Medcare MSO is a well-renowned medical billing company that provides innovative solutions for medical billing and coding services, revenue cycle management, and healthcare IT solutions. Get in touch with us to improve your financial stability with great support.