Cardiology Medical Billing: Benefits of Outsourcing
Cardiology is a specialized field in the healthcare industry that involves a wide variety of treatment services. In general, billing and coding cardiology requires expert knowledge, as even a minor error can trigger large claim denials. The introduction of new coding terminologies has further complicated cardiology billing, resulting in the loss of a significant percentage of revenue. Although there has been an increase in average Medicare rates by 1.1%, cardiology has seen a 2% reduction in Medicare rates each year. Thus, the profits of cardiology practices have been hit harder. In this article, let’s learn more about cardiology billing and how outsourcing can help incur such lost revenue:
Expert skill set:
Cardiology is an intricate field and the coding of interventional procedures such as electrophysiology, computed tomographic angiography (CCTA), and cardiac catheterization lab needs the utmost in coding accuracy. Therefore, cardiology medical billing services must be handled by highly trained and experienced professionals. Staff should be well versed in ICD-10 coding terminology related to cardiology billing. However, not all US medical billing companies have such highly trained staff on their in-house team. Therefore, outsourcing medical billing to a foreign provider would be a good option.
stay up to date:
The US health care industry is constantly evolving with new reforms and regulations. Staying current is essential to ensure accurate cardiology medical billing services. Upgrading software and technology systems to current standards has become a top priority, but it requires a large investment. That’s why medical billing outsourcing is a better solution, as foreign providers come with fully loaded technology systems. Additionally, these companies are compliant with the latest HIPAA regulations and hold ISO certifications.
Complete Clinical Documentation:
It has been estimated that more than 450 code changes will be made to the ICD-10-CM code set in the Cardiology department by the year 2019 (subject to change in future years). Some significant changes include the addition of new codes in the cerebral infarction category, the inclusion of a new subcategory for inherited cerebrovascular diseases, and some other code revisions. To ensure proper cardiology medical billing services and reduced coding errors, complete clinical documentation is essential. Experienced foreign providers do this documentation extremely well, so outsourcing would be an ideal option.
Other Benefits of Outsourcing – In addition to the above advantages, cardiology medical billing outsourcing has other benefits such as,
• Check and update codes frequently
• Performing periodic QA audits (Quality Assurance)
• Timely RA follow-up
• Reduction in claim denials
• Offering personalized analysis and monthly reports
• Faster response time
• Overhead savings
• Maximize income generation
About e-care India:
If you are looking for a highly experienced overseas medical billing company that offers exceptional cardiology medical billing services, look no further than E-care India. This offshore provider has twin ISO certifications: ISO 9001:2015 for our operational processes and ISO 27001:2013 for ISMS (Information Security and Management Systems). E-care offers 24/7 cardiology medical billing services to its endless list of clients without compromising quality. To learn more about e-care and its services, log in to http://www.ecareindia.com.