RADIOLOGY MEDICAL BILLING SERVICES
Radiology Billing Services
In recent years, technological developments in radiology have been truly astounding, but the necessary high-tech equipment and specialized supplies involved have led to costs rising rapidly—making the specialization a target for private insurers and federal programs looking to cut their costs.
The transition from fee-for-service to bundled payments has only been made more complex by all the different policies and practices involved with accountable care organizations and pay-for-performance and value-based models.
Radiology is The Highest Profit-Generating Department
Radiology is the highest profit-generating department in hospitals, being responsible for 37 percent of profits on average, according to The Advisory Board Company, so chances are the future contains even more scrutiny and efforts to cut down on amounts paid out by insurers and other payers.
Your Revenue Depends on Proper Coding
Because radiology is primarily a referral-based service, the trend towards more bundled charges and grouped providers is complicating and slowing down radiology medical billing. Efficient revenue cycle management (RCM) depends on the radiology billing process that codes properly and submits claims quickly. Another integral part of this system is receiving payments and swiftly handling rejected and denied claims.
We Sort Out The Error And Correct It
Denied and rejected claims occur when even the slightest error is made in radiology medical billing and coding and data entry. Payers do not take the time to consider whether an error is insignificant and even a missing hyphen or misspelled name is enough to get a claim denied. Payers even deny claims in bulk when there are errors with submissions. Each claim must be reprocessed, taking up valuable staff time to sort out the error and correct it, resulting in increased labor costs.