03 Jan Cardiology Medical Billing: Why is it important for your healthcare practice?
Cardiology is easily one of the most confusing practices within the healthcare industry. According to a survey, heart diseases result in more than 650,000 deaths in the USA every year. This shows that cardiovascular disease is the most common in the country. Particularly after ICD-10, the significance of documentation, medical billing, compliance, coding, and audits has increased drastically in the world of cardiology.
Countless cardiology practitioners report multiple denials caused by errors in Medical Billing and coding. They must be familiar with cardiology billing, coding, and any changes that may take place. However, this is easier said than done. Keeping up with billing chores is a great responsibility.
and coding. They must be familiar with cardiology billing, coding, and any changes that may take place. However, this is easier said than done. Keeping up with billing chores is a great responsibility.
Let’s have a glance at a few tips you can apply to your cardiology practice.
- Proper Documentation
Documentation is key to billing and coding. If there are any errors in this category, it will result in inaccurate billing and coding. This subsequently leads to claim denials and pauses in reimbursements. With the cash flow of the cardiology facility disrupted, it could impact operations.
- Combination of Codes
If a patient has two or more medical conditions, it is preferred to apply codes for all diseases. It is vital to implement the rightful and complete code to receive full reimbursements. You will get accurate payments if you apply medical codes properly.
- Try to reduce Human Errors
Human errors are the prime reason for claim denials in cardiology practice. Since there is manual documentation and multiple different medical codes, mistakes are bound to take place. With a single code consisting of up to 7 letters, the room for errors increases.
Medical staff on call may get distracted or miss out on CPT and ICD-10 codes. The key is to ensure that you check all information and codes when you enter them. You may also skip double-checking and instead conduct a thorough audit to ensure accuracy.
- Lookout for Changes in Codes
It is essential for cardiology healthcare providers to remain updated with ICD-10, HCPCS, PCS, and CPT codes as they tend to frequently change. With just a few alterations, the coding standards may become completely outdated.
By simply subscribing to the AHA and CMS websites, you may stay up to date with any changes. You may also need to tally codes with the state and coding authorities.
- Frequent Audits
Auditing your healthcare facility will assist you in identifying problems and errors in the revenue cycle. This may also identify any and every communication gap between the medical staff, physicians, and medical codes.
Since errors result in denied claims, it’s safe to conduct audits and eliminate mistakes before submission. With a sufficient and regular cash flow, you can provide optimal care for your patients.
These tips are necessary to maintain consistent billing for any cardiology facility. You may still face challenges, as cardiology is one of the most complex divisions in the healthcare industry. Providing the best care for patients while also maintaining the revenue cycle system is crucial for your organization.
By keeping these tips in mind, it’s best to train your in-house medical staff or outsource a cardiology billing company for smooth operations.