Cardiology Medical Billing Services Made Hassle Free

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Information about Cardiology Medical Billing Services Made Hassle Free
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Published on March 20, 2019

Author: BikhamHCare

Source: authorstream.com

Slide1: Outsourcing has emerged as the most profitable business strategy over the past few years . While it has been a savior for some, others consider it as an evil job-killing tactic . It rewards business owners with the ability to concentrate on core business aspects and a lot more . Some of the frequently outsourced business areas are- IT functions, Network and Telecommunications, Accounting, Security , And Medical Billing. Let us dive into this a little more. Slide2: Bikham Healthcare has been a leader in offering the most profitable cardiology billing solutions at affordable prices.  The team is comprised of industry’s best medical billing experts that take care of every step in cardiology revenue cycle management process . We make use of a dual quality check process to ensure that even the smallest error gets eliminated and denials are avoided . With the 14+ years of unmatched expertise in medical billing we know the ins and outs of the cardiology billing industry .   Visit our website www.bikham.com to know more about our efficient Cardiology billing services. Slide3: Cardiology is a field of medicine that deals with the disorders of the heart as well as some parts of the blood circulatory system. A system of cardiology medical billing services is a specialized solution meant to improve the financial standing of physicians. This exciting field of cardiology medical billing services is a challenging area for insurance reimbursements. Cardiology medical billing is intricate and complex which makes it more challenging than other specialties .   A deep knowledge of cardiology procedures like cardiovascular terminology, services, and other procedures is required. Slide4: International Statistical Classification of Diseases and Related Health Problems, usually called as International Classification of Diseases (ICD) is used in cardiology medical billing . Another terminology for codes called as Current Procedural Terminology (CPT) is also used by providers of cardiology billing solutions . ICD is designed as a health care classification system, providing a system of diagnosis codes that are used by a cardiology billing provider .   It classifies numerous disorders and includes a classification of a wide variety of signs, symptoms, abnormal findings, complaints, social circumstances, and external causes of injury or diseases.   Understanding this coding system and the cardiology billing guidelines is important in terms of setting up a profitable Cardiology revenue cycle management. Slide5: The first step normally starts with collecting information about the treatment procedures and the insurance company with which the patient is aligned.  A billing team then prepares a claim form to put together the entire patient and his/her treatment details along with the diagnosis specific codes and charges . The claims are then submitted to the insurance companies via secure portals of clearing houses . These portals verify the information and in case of any error or mismatch with the info in its database, rejects the claim and routes it back to the source . These errors are then rectified and claims are resubmitted via post, electronic means (Cardiology billing software) or via fax. Slide6: Insurance companies normally take around 30 days to process the claims after which they make payments for the services rendered.   Payments are only made after successful verification and cross-checking of claim information with the provided documentation.   Payments are obtained via EFT transfer or check, which are received at the provider’s end or at the account details provided by the provider at the time of credentialing process.   Sometimes partial payments for the claims are received for which adjustments are required to be made after insurance follow-up and assigning valid reasons for the same.   An AR follows up on the claims which are denied from insurance company’s end and makes sure the payments are received after proper rectification of any errors. Slide7: In order to execute this complex cardiology medical billing process, a team of well trained professionals is required.   Proper identification of services, coding them, getting the claims processed seamlessly and advocating them effectively is important.   Cardiology medical billing services include coding for several kind of medical equipment for which the modifier and diagnosis code combination is different with different payers.   Taking care of all these things at a same time becomes difficult to handle with the increased workload of core and non-core aspects of this facility.   Moreover, the range of benefits that this effective business strategy offers, attracts more and more Cardiology practice owners to go for it. Slide8: The cost factor has always been dominant in making business related decisions, especially where some sort of investment is involved.   A majority of business owners perceive outsourcing as an expensive practice when actually it costs much less than the in-house operations.   You do not have to invest on the recruitment process, hiring and training them and setting up any kind of expenditure to execute business operations.   Access to a skilled knowledge base is available at no extra cost. Otherwise, hiring an expert may cost you heaps.   You do not have to go through the hassle of managing their payroll as there is no in-house employee involved. Therefore, in one or other way, you save on money. Slide9: Choosing the right outsourcing cardiology billing companies is as important as the services you are about to outsource. Any hastily made decision or wrong choice may result in you paying more than you actually earn. Selecting right cardiology billing companies requires patience and something where you need to be extra careful .   There are some companies in the market that overhype their reputation and make fake promises to deliver profitable practices when what actually they deliver is something else. To make this decision making process easier you can consider reviewing their past performances, asking for testimonials from their clients and verifying their work history. Slide10: US Office 99 Wall Street #158, New York NY 10005 +1 800-935-0865 General Queries: info@bikham.com Health Care: healthcare@bikham.com

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