Not only is oncology one of the most rapidly developing fields of medicine, it is also among the most far-reaching, with patients of all ages and types, and practitioners in many different settings. All these factors combine to make oncology medical billing among the most complex of all the different specializations.
The codes for medical billing are updated annually, but there are also changes to regulations, government program rules and insurer requirements that may happen all through the year. Failing to incorporate each payer’s demands and the latest codes into each claim will result in non-payment—and in this economy, no one can afford to not get paid for the services they provide.
On the other hand, trying to stay on top of all the changes can take so much time and attention that it is impossible to focus on patients and providing the care they need. Outsourcing oncology revenue cycle management has become a popular solution that increases revenue while allowing medical professionals to get back to focusing on patient care.
By its very nature, oncology is one of the more stressful fields of medicine. The seriousness of the conditions being treated means that physicians are frequently dealing with life-threatening diseases and complex treatments. That makes it important to do anything possible to relieve job stress.
Treatment technologies are developing rapidly, so keeping up with new codes, verifying coverage, and negotiating reimbursement rates all add more work. The good news is that these are all part of our oncology billing services!
In order to get full compensation, claims must be submitted without errors, but must also include all the necessary details. That information must be included in the form of numeric modifiers defined in the medical billing codes. When claims for surgeries are in the tens of thousands of dollars, it is certainly not feasible to have reimbursements delayed by a month or more while these details are ironed out. By outsourcing to professional oncology medical billing services, providers can get claims submitted faster with far fewer of the errors and issues that cause rejections and denials.
Another reason to outsource your oncology billing services to Med Billing RES is that in addition to a team of our experienced medical billers being assigned to your account, we will also appoint an account manager so that there will always be someone who is familiar with your business and who knows the status of all your claims. Millions of dollars are lost by medical practices every year simply because rejected and denied claims are dropped. Med Billing RES’s account managers track every claim and make sure to follow up on anything that is unpaid, regardless of whether it is for a large amount or a small one.
Oncology is a high-tech field, and treatments often involve new equipment, extensive surgeries, radiation therapies, chemotherapy, etc. Multiple practitioners might be from different facilities, and the process may extend over a long period of time, all of which make billing more difficult. By handing that responsibility over to an experienced oncology medical billing company, you can be relieved of the need to figure out how to incorporate all the details in the claim.
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