7 Effective Ways to Get More Out Of Orthopedics Medical Billing
With the Affordable Care Act, new regulations and guidelines of insurance payers, switch to ICD-10, patients unwilling/unable to pay due to highdeductibles, rising costs, bureaucratic tasks, and declining reimbursements, it is no wonder that orthopedic physicians/surgeons are feeling the brunt of the situation. More so, as orthopedics’ is an expensive medical specialty (unlike others) where the operational cost of equipment’s, drugs, injections, and products is usually high, orthopedics’ practices are dealing with high expenses too.
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To deal with the situation, here are seven easy ways to improve efficiency and profits: 1. the most important aspect in orthopedic billing and coding procedures is to be updated with the latest coding rules. Codes have been added, revised and deleted in the areas of biopsies, joint injections, image guidance, ultrasounds, kyphoplasty and vertebroplasty. 2. Hire a skilled orthopedic s physician assistant who can handle other work such as administering drugs and injections and other smaller surgical tasks. www.medicalbillersandcoders.com info@medicalbillersandcoders.com
3. Be social media friendly. Patients often check the reviews and details of a physician before visiting their facility. Also, maintaining a relationship with other primary care physicians can increase visibility and referrals. 4. Maintain apt documentation and records for enhancing reimbursements. With ICD-10 changes, for identifying spinal stenosis or spondylitis, orthopedic s need to document the specific region of the spine; or need to mention the left/right or bilateral number of joint disorders/fractures. www.medicalbillersandcoders.com info@medicalbillersandcoders.com
5. Outsourcing transcription and other such tasks can reduce the burden on the internal staff. Also, outsourcing other medical billing and coding tasks or the complete revenue management cycle to an outsourcing agency can improve efficiency while increasing reimbursements due to lesser rejections and denials on claims. 6. It is imperative for the orthopedic billing and coding team to check the reason for denials and ensure they do not occur in future by verifying insurance information of each patient, collecting their accurate information and setting up an automated billing service. www.medicalbillersandcoders.com
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Orthopedic billing and coding companies specialize in providing services such as electronic and paper billing, following up with payers, generating reports, performing code audit checks, possessing expert knowledge of CPT codes and modifiers and assigning them appropriately to the highest accuracy for higher reimbursements. To Get Effective Ways for You Contact Us Toll Free 888-357-3226 www.medicalbillersandcoders.com info@medicalbillersandcoders.com