WILMINGTON, Delaware, March 12, 2014 /PRNewswire/ --
Orthopedic Billing has its very own set of unique billing challenges; added to this the gradually increasing complexity in the medical billing scenario in the US, has propelled various providers to seek help from an experienced billing partner. Medicalbillersandcoders.com too has participated by helping scores of Orthopedic practices across US; overcome their billing woes.
The talented team of Orthopedic billing professionals at MBC believe that "continued training and education is the key to help procure maximum reimbursements; especially with CPT codes and associated modifiers changing constantly."
MBC discerns unique Orthopedic billing challenges
MBC medical billing professionals with over 10 years of experience arekeenly aware of the ever-changing coding perplexities of this specialty. Over time they have managed to unravelthe unique challenges related to Orthopedic billing-
- Constantly changing codesmakes collecting reimbursements and appealing denials a constant struggle. Billers need to be thoroughly updated with accurate, detailed and technical answers about procedures and diagnoses to be able to procure maximum reimbursements
- Orthopedic billing is more difficult compared to typical billing because of the rules surrounding multiple-procedures and this often exceeds the capabilities of the billing software as well
- Excessive underpayments can be a cause of worry , especially as orthopedic procedures tend to be highly expensive; and even a small percent of underpayment can lead to high revenue losses
- Proper handling of patients billing is a must as Orthopedics deals with- high balances, complicated explanations from payers and physician invoices that patients do not easily understand. If not handled properly this can easily lead to revenue loss and unsatisfied patients
- Orthopedic billing is getting further complex with changes in Orthopedic-specific CPT codes and modifiers every year, along with the fee schedules (published by the CMS), graduallygetting reduced per year
- High degree of influence of technology on Orthopedic billing and coding makes it impossible to conduct operational or billing functions without being updated about the latest software and technology
- The specialty encompasses a wide range of procedures to treat various different kinds of conditions, and these are observed and valued differently by the payers. This makes billing susceptible to billing complexities
Despite these unique challenges there is growth within the specialty- as various orthopedic practices are shifting from hospital-based inpatient form to an outpatient or an ambulatory setting, which is currently growing at over 20%, comparable with other fast growing specialties.
The research team at MBC believes that "while orthopedic practitioners have reasons to be upbeat about their practice prospects, they should be equally cautious and prepared for billing complexities that accompany increasing practice volumes"
Finding a solution to Orthopedic Billing Woes with MBC!
MBCbillers' significant experience and expertise in Orthopedic billing has not only helped them unravel various unique challenges; but also increasedpractice collections substantially. Orthopedic billing experts at MBC are able to-
- Successfully procure reimbursementsand appeal denied claims due to constant updating and substantial experience gained by billing for many Orthopedic practices for several years
- Track and pursue underpayments accurately and also reduce underpayments substantially, managing to increase practice collections by nearly 10%
- Appropriately advice physicians on improving front end interaction and patient billing
- Remain updated with evolving orthopedic medical billing practices and technology systems
The orthopedic physician revenue cycle is very complex and a practice must implement a revenue cycle management solution that effectively incorporates people, process, and technology.
MBC has beenfollowing systematic Revenue Cycle Management while includes comprehensive processes like coding, charge posting, claims filing, payment posting, and A/R follow-up, denial management, and reporting, along with guiding practices incorporate all the above factors into their RCM process.
Medicalbillersandcoders.com is the largest 'Consortium of Medical Billers and Coders,' across the US. The portal brings together hundreds of billers, with experience in different specialties ( Cardiology Billing, Gastroenterology Billing, Urology Billing, Dermatology Billing, Anesthesiology Billing, OB/GYN Billing, Emergency Medicine Billing ), on the same platform to service physicians in their local areas. This network of coders and billers is growing rapidly and is currently servicing over 50 specialty physicians, across the US
Prerna Gupta, Media Relations
108 West, 13th street,
Wilmington, DE 19801
Medical Billing Blog