During recent years, radiology-related technology has gone through a lot of improvement and practitioners now have more control and can provide better services — but the necessary high-tech equipment and supplies involved have caused the cost of the service to rise. Private insurance companies and federal programs are looking to cut the costs they need to cover, eventually causing problems for radiology practitioners.
Value-Based Models
The transition from fee-for-service to bundled payments has become more complex due to various policies and practices with accountable care organizations, value-based models, and pay-for-performance.
Radiology Generates the Highest Profit
In hospitals and other small facilities, the radiology department generates a high share of profit. So it is important to get payments out of the insurers and other payers in a timely manner.
Benefits of Outsourcing Our Radiology Billing Services
We Analyze, Evaluate, and Correct Errors
Claim denials often occur when errors are made in billing and coding. Payers do not take time to consider whether the error is insignificant or not — even a missing hyphen can cause rejection of claims. Each claim evaluation and resubmission takes a lot of time and increases labor costs. We focus on each and every claim and submit error-free claims. If any claim still gets rejected, we take full responsibility, correct errors, and resubmit them.
The Three Most Common Reasons for Claim Denials
- Eligibility Issues: stating the wrong service, or the wrong insurer's plan or plan number.
- Authorization Failure: authorization failure for claim reimbursements.
- Documentation: improper documentation stating medical necessity.
The Solution to Your Problems
A lot of claims get rejected because of small human errors. With all the complexities involved in payers' rules and regulations, and annual changes in coding and billing, it becomes impossible for a busy facility like radiology to stay on top of it and avoid errors. The best solution is to outsource so that you can give more time and attention to your services without worrying about financial issues.
Our Software Is Up to Date
Our company covers all the phases of the medical revenue cycle. From pre-appointment to aging accounts receivable, we have you covered. We have departments of specialists that can handle every issue and claim effectively, and we make sure we stay up to date on every medical and coding revision. The software we use is modern and updated to every coding change.