Oncology Billing Services
MedEx MBS offers a comprehensive range of services for oncology medical billing. Alongside our effective billing system, which has consistently boosted revenue for our clients, we provide a complete suite of medical revenue cycle management (RCM) services.
Reasons to Outsource Oncology Medical Billing
Oncology is not only one of the most rapidly advancing fields of medicine but also one of the most extensive, with a diverse patient population and practitioners working in various settings. These factors make oncology medical billing particularly complex.
Medical billing codes are updated annually, and there are ongoing changes to regulations, government program rules, and insurer requirements throughout the year. Failure to integrate each payer’s specific demands and the latest codes into claims can result in non-payment, which is unsustainable in today’s economic climate.
Moreover, keeping up with these changes can consume so much time and focus that it detracts from patient care. Outsourcing oncology revenue cycle management has become a popular solution, helping to boost revenue while allowing medical professionals to concentrate on providing quality patient care.
Oncology Billing Services Alleviate the Burden for Physicians
Oncology is inherently one of the more stressful medical fields, given the life-threatening nature of the conditions and the complexity of treatments involved. Reducing job stress is crucial for physicians in this demanding specialty.
With rapid advancements in treatment technologies, physicians face the additional burden of staying updated on new codes, verifying coverage, and negotiating reimbursement rates. Fortunately, these responsibilities are all managed as part of our oncology billing services, helping to ease the workload.
Reasons to Outsource Oncology Billing to Specialists
Oncology billing and coding are inherently complex, primarily due to the intricate nature of coding and billing in general. At MedEx MBS, our oncology revenue cycle management team is skilled at addressing denials and rejections effectively, ensuring that no unpaid claims are left unresolved. We have streamlined our billing and coding processes for efficiency, and our staff undergo continuous training to prevent recurring errors. Additionally, our RCM specialists manage all necessary annual payer adjustments and paybacks.
Ensure Complete and Accurate Compensation
To secure full compensation, claims must be error-free and include all necessary details, typically represented by numeric modifiers in the medical billing codes. Given that surgical claims can amount to tens of thousands of dollars, delays of a month or more due to missing details are impractical. Outsourcing to specialized oncology billing services allows providers to submit claims more quickly and with significantly fewer errors, reducing the likelihood of rejections and denials.
MedEx MBS Masters the Challenges of Oncology Medical Billing
Oncology billing presents unique challenges for in-house teams, but MedEx MBS effectively addresses these difficulties. Our advanced software and highly skilled billing staff are key to our success. Once our team takes over the billing process, claim rejections decrease significantly.
What sets us apart is our commitment to recognizing the unique needs of each client. We understand that each specialty has specific requirements, and we ensure that our team is trained accordingly and well-versed in those requirements.
Here’s how MedEx MBS tackles the most challenging aspects of oncology billing and revenue cycle management:
We Monitor Every Claim Individually
Another reason to outsource your oncology billing to MedEx MBS is that, in addition to assigning a team of experienced medical billers to your account, we also designate an account manager. This ensures that there is always a dedicated point of contact who is well-acquainted with your business and the status of all your claims. Many medical practices lose millions of dollars annually due to rejected and denied claims being neglected. At MedEx MBS, our account managers meticulously track every claim and diligently follow up on any unpaid amounts, regardless of their size.
Complex Procedures Require Expertise
Oncology is a high-tech field involving advanced equipment, extensive surgeries, radiation therapies, chemotherapy, and more. The involvement of multiple practitioners from various facilities and the extended duration of treatment further complicate billing. By outsourcing this responsibility to an experienced oncology medical billing company, you can avoid the complexities of integrating all the details into each claim.
Multi-Disciplinary Teams Require Specialized Coding
Cancer treatment is seldom straightforward, often involving a series of procedures and specialists from various medical fields, such as plastic surgeons and hepatologists. Since each specialist’s role needs to be reflected in the coding, and they may belong to different business entities and medical disciplines, the coding must be meticulously detailed to capture all necessary information.
Billers Must Understand the Specifics of Bundled Codes
Given the complexity of oncology procedures, which often involve multiple components and specialists, the billing process has been simplified through the use of “bundled” codes. These bundles consolidate charges into a single code, streamlining the billing process by reducing the number of individual bills submitted to payers.
However, oncology procedures frequently require deviations from the standard bundle, so an oncology medical billing company must understand what is included in each bundle and how to code for any variations.
Even minor changes, such as a different anesthetic, can lead to claim denials if not properly accounted for. Billers and coders must be familiar with the specifics of each bundle and aware of any additional services that need to be billed separately. This level of expertise comes with experience, which is why a billing team should include a senior biller knowledgeable about potential pitfalls.
Simply adding codes for extras like an additional day of hospitalization or a different anesthetic without proper notation can result in claim denials, as these might be perceived as duplications. Proper coding requires understanding how to correctly document and communicate these variations.
