Two factors decide the success and stability of any Urology practice; one is timely billing and the other one is quickly getting reimbursements. Urology medical billing is well-known for its own complications with modifiers and other intricacies hugely involved.
Many urology practices realize the need for a professional medical billing service that can handle all their billing chaos in different aspects and help in improving the revenue of their practice. This is why they find outsourcing is the best option for effortlessly dealing with their urology medical billing.
If you look at the statistics of reimbursement collections of urology practices, they leave almost 10%–20% of their reimbursements uncollected because of procedural lapses and lack of technical knowledge and relevant software. Moreover, according to the American Accreditation of Ambulatory Surgery Facilities’ guide, urology specialty itself remains to be the least appealing of practices from the aspect of reimbursement.
3 top reasons to outsource your urology medical billing
Better revenues through improved collections
If you outsource your urology medical billing, the focus of your professional service provider will be first on improving your revenue through continuous collections. You will also see your payments speeding up and reducing your unnecessary stress. An experienced medical billing company gives you the benefit of well-trained and highly-skilled coding and billing staff who keep changes in urology coding and other requirements of payers on their fingertips at frequent intervals of updates released whenever.
This makes sure that your claims are submitted error-free and accurate, which ensures there is no delay in payments. Another crucial factor that urology practices may struggle would be how and why of claim denials and which methods to adopt to avoid denials, by appealing them efficiently to insurer, for a speedy payment. Your billing partner’s coders and billers will be highly capable of managing denials and have a great expertise and experience in the same.
Avoiding denials through improved quality checks
Trained professionals will always have a third-eye on the exact procedure that has been performed, in order to avoid claims from bogging down with unnecessary denials. For an example, catheterization codes could be often confusing since most of the times it depends on clinical scenario for certain cases.
In the same manner, if it is a case of urethral dilation, it has to be assigned with CPT codes for the first and subsequent dilations properly, otherwise the reimbursement gets denied. Therefore, handing over your urology medical billing process to an expert service provider results in zero chance for denials and expected reimbursements.
Reduced operational expenses through a customized billing software
Leaving your urology medical billing to a professional and well-managed medical billing and coding company supports you keep your practice expenses under control, with their efficient services and highly-customizable billing software. This will enhance your operations and level up your reimbursements consistently, turning your focus completely on your practice and rendering better care to patients.
Outsourcing your urology medical billing with highly efficient and experienced company such as 24/7 Medical Billing Services can bring you huge benefits and make your RCM steady with an easy and committed workflow. We help you enhance your claims adjustment rate between 12% and 15% and even more, considering your present performance, but will be much better than your previous average rate. We also help you keep your ARs under control with continuous and effective follow-ups with insurer, ensuring consistent revenue flow.