Almost one third of cardiologists spend more than 20 hours per week documenting and billing due to the complexity of cardiology.
Cardiology advances in recent years have resulted in increased success rates for treatment, however, new and more complex coding and billing requirements have also been created.
Due to the rapid evolution of technology and the complexity of diagnostic protocols, cardiology billing should be handled by experts. As a result of constant advancements in the specialty, codes for almost all procedures are becoming increasingly complex and ever-changing. Furthermore, physicians do not have the time to manage billing and coding for cardiology services.
Due to cardiology’s relatively high cost, practices stand to lose substantial revenue as a result of incorrect cardiology billing codes. It is essential to have a coding and billing team with experience in cardiology and claims submission like wise medical billing (WMB) due to the complexity of the ever-changing codes.
There is always the possibility of up-coding or under-coding a procedure in cardiology billing. As code changes occur frequently in procedures such as iliac repair, angioplasty, stent replacement, ECG recording, etc., cardiology practices lose a significant amount of revenue.
Several health care providers are aware that insurance companies have rejected many claims due to inaccurate modifiers. For this reason, it is imperative that the appropriate modifiers are used during billing.
In the first step, it is imperative that the patient's information be accurate. You will suffer a significant revenue loss if you make a mistake at this stage. Many claims are denied as a result of errors in documentation at front desk. Consequently, it is important to begin by avoiding any potential record-keeping errors. You should ensure that the person in charge of your front desk accurately records all critical information provided by your patients. An accurate record of a patient's name, Social Security number, address, age, demographics, and information about their insurance provider is required.
Therefore, it is always important to ensure that you and the patient are communicating effectively. It is important to identify the problem at the outset.
The method of confirming insurance coverage or eligibility is one of the most critical aspects of cardiology billing. Cardiology patients have a wide range of treatment options to choose from. The subsequent steps require accurate diagnosis, surgery, and the use of various types of equipment. There are several processes involved in treating a patient with cardiovascular disease.
Typically, insurance providers exclude cardiology medical billing from their general agreements. Due to the fact that the services are not covered by their insurance contract, the insurer often refuses to pay for them. Therefore, patients are often unaware of these guidelines.We provide end-to-end medical billing services to help cardiology practices and groups comply with government regulations, meet private payer requirements, and manage operational challenges. Our solutions help your practice manage claim filing efficiently, avoid the hassles associated with denial management, HIPAA compliance, and insurance follow-ups.
In addition to being certified and trained coders and billers, our experts are knowledgeable about the latest advancements and developments in cardiology billing. They possess a high level of technical competence and are familiar with the complicated MACRA regulations. We are capable of identifying and resolving billing system issues as well as increasing revenue for your business.
Our expertise in Cardiology includes but is not limited to:
With Wise Medical Billing comprehensive end-to-end Medical Billing and Revenue Cycle Management Solutions for Cardiology, you can reduce costs, improve efficiency, and generate more revenue.
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