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Results Driven Oncology Billing Services
< 30
Days in AR
10-15%
Revenue Increase
97%
First Pass Ratio
96%
Collection Ratios
98%
Clean Claims Rate
Medical
Billing for
Oncology Services
Oncology is a rapidly developing multispecialty that manages care plans and treatments for patients from different demographics with varying tumor formations. All these factors add to its complexity and complicate billing and coding, especially if you lack a proper understanding of the processes and coding systems.
Besides, the ever-evolving regulations, coding systems, and different billing requirements for each payer make claim creation an intricate task. Non-compliance with rules can land you in legal battles, upcoding or undercoding may compromise your credibility, and not following payer requirements can lead to lost revenue. However, outsourcing of oncology billing services overcomes these challenges!
Common Challenges in Oncology Billing
When it comes to billing oncology procedures, the coders must have a basic understanding of the treatments to ensure they choose the correct codes, use appropriate modifiers, and supply adequate documentation for reimbursements. Oncology has procedures ranging from major organ resections that involve the removal of a significant portion or complete organ affected by cancer to reconstructive surgeries like breast reconstruction.
Collecting your rightful reimbursements can be a struggle if the coders and billers responsible for handling your insurance claims don’t know when to use a code or include a modifier for added specificity.
Compliance Issues
During oncology billing, adhering to the frequently changing regulations and coding guidelines can be a struggle. Non-compliance can lead to disciplinary actions and fines, putting your reputation at stake!
Coding Errors
Oncologists treat several types of cancer patients, each requiring different services and procedures. Using Incorrect oncology billing codes in medical claims can lead to payment delays and lower patient satisfaction.
Inadequate Documentation
Insurance companies require adequate documentation to justify the medical necessity and appropriateness of performed oncology procedures. However, if you submit claims without vital information, it will result in denials.
Lack of Verification
Not verifying a patient’s insurance eligibility or obtaining prior authorization for a specific procedure is another major challenge in oncology medical billing. It can cause denials, leading to revenue leakage.
Outsource Oncology Billing Services to MediBill MD
Trying to overcome the oncology billing and coding challenges is easier said than done! Thus, we designed our oncology medical billing services after taking feedback from leading oncologists on the challenges they encounter while trying to survive in the competitive healthcare landscape.
As your trusted oncology billing company, we work like an extension of your team and oversee some non-clinical aspects of your practice. However, you don’t have to worry about losing control over the process, as we ensure complete transparency and deliver comprehensive insights into your practice’s financial performance.
Undercoding or not charging properly for the rendered services can drain your revenue. Moreover, it is considered a fraudulent practice and a violation of federal law. Thus, the oncology medical billing specialists and certified coders at MediBillMD strive to steer clear of this coding error.
Charging for services separately when bundled codes are available is another coding error that can land you in hot waters. But not when you outsource oncology medical billing services to MediBillMD's experienced billers and coders. They assign accurate bundle codes where needed.
Oncology is a complex specialty that manages treatment plans for various cancer patients. We continuously invest in training billers and coders in different oncology billing guidelines and coding requirements, so you get access to a specialized team every time.
When you outsource oncology billing services to us, you boost your chances of an optimized billing and payment cycle, leading to an uptick in revenue. How? Our team proactively follows up on each submitted claim to ensure a steady cash flow.
We don’t just submit claims to insurance payers and back off! Our team follows a rigorous claim management workflow that guarantees you enjoy fewer days in account receivables. Besides, our approach to denials ensures reduced claim rejections.
Practices Nationwide
Yes, we know different states have varying regulations and billing guidelines that you must comply with to avoid lawsuits and financial penalties. That is why oncologists struggle to find a reliable medical billing partner. Not anymore! MediBillMD offers tailored oncology medical billing services in all 50 states to guarantee 100% regulatory compliance with differing state laws.
Eliminate Oncology Billing & Coding Errors with MediBillMD
Are you worried that you may have to shut the doors of your practice because of high claim denials and an unsteady cash flow? We can understand how difficult it becomes to keep the operations running when the accounts are not receiving the expected cash inflow.
Worry not! At MediBillMD, we have a specialized oncology medical billing team to help you steer clear of nightmarish medical coding.
| Common Oncology Billing Errors | MediBillMD Solution | |
|---|---|---|
| Lack of Prior Authorization | Our oncology billing team obtains pre-authorization from the insurance payer for specific oncology procedures before rendering services to avoid claim denials and payment delays. | |
| Incorrect Coding | Our oncology medical billing and coding specialists precisely select the accurate diagnosis and procedure codes that best describe the rendered services to ensure clean claim submission. | |
| Missing Modifiers | Amateur coders may forget to use modifiers or use the incorrect ones while coding. But not our certified professional coders (CPCs)! Our coders ensure the highest level of coding specificity. | |
| Data Entry Errors | Our expert oncology billing team smartly bypasses it by double-checking all the diagnosis and procedure codes, modifiers, and additional documentation for accuracy and completeness. | |
| Not Appealing Denials | Our oncology medical billing team evaluates each denial and makes informed decisions about when to rework and resubmit a claim or appeal it to bring you your rightful reimbursements. | |
Lowest Prices Guaranteed
When myriad options are available to outsource oncology billing, let your BUDGET be the deciding factor! Luckily, at MediBillMD, we offer professional medical billing and coding services at affordable rates without compromising on quality.
Get In Touch With Our
Oncology
Billing Experts
Sit back, relax, and let a dedicated oncology billing specialist handle your practice’s billing and coding workflow. Connect with our representative today and explore unmatched oncology billing services!
FAQs
The tedious process of oncology medical billing entails the verification of necessary information, coding of oncology diagnoses and procedures, claim generation and submission, and finally, payment collection from the correct private or government insurance payer. It ensures rightful reimbursements against the rendered services for effective cancer management of patients.
Oncology billing and coding are intricate, and MediBillMD has the expertise to handle its complexities and ensure timely reimbursements for the practice at affordable rates.
At MediBillMD, we charge around 2-5% of your monthly collections for managing your oncology billing workflow.
Ensuring accurate coding and adequate documentation are the major challenges in oncology medical billing, often leading to a higher denial rate.
