Orthopedic Medical Billing Services
Orthopedic billing, focused on the musculoskeletal system, is inherently complex. At MediBill Health Partners, we provide specialized orthopedic billing services, ensuring thorough knowledge of all necessary procedures. By outsourcing to us, hospitals, private practices, and ortho clinics benefit from accurate billing and streamlined claim submissions. Partnering with MBHP enhances your revenue cycle management, optimizing both the billing and claims processes for improved financial outcomes.
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Our Comprehensive Orthopedic Medical Billing Services
Challenges in Billing for Orthopedic Medical Care
Prior Authorizations Issues:
Different surveys indicates that healthcare providers spend approximately 16 hours per week on prior authorizations, with orthopedic practices facing even higher estimates of around 30 hours. Inefficient handling of these authorizations by medical billing and coding companies can lead to patient delays of one to five days before receiving necessary treatment.
Long wait times can discourage patients from continuing with practices that regularly struggle with prior authorizations. As a healthcare provider, it's crucial to evaluate your prior authorization process to ensure it's managed effectively and efficiently.
Long wait times can discourage patients from continuing with practices that regularly struggle with prior authorizations. As a healthcare provider, it's crucial to evaluate your prior authorization process to ensure it's managed effectively and efficiently.
Coding challenges:
Coding challenges are prevalent across all healthcare sectors, and orthopedics is no exception. With the regular updates to ICD codes, the U.S. currently uses ICD-10, while ICD-11 was released in January 2022, with an anticipated implementation date of 2025 for healthcare practitioners and billing companies.This transition requires coders to adapt by unlearning old practices and mastering the new system. If your billing and coding team hasn’t begun this process, you risk falling behind.
Even under the current ICD-10 framework, coders must exercise caution when selecting modifiers and codes to avoid overcharging or undercharging payers. Even minor errors can result in claim rejections, leading to payment delays for healthcare providers.
Even under the current ICD-10 framework, coders must exercise caution when selecting modifiers and codes to avoid overcharging or undercharging payers. Even minor errors can result in claim rejections, leading to payment delays for healthcare providers.
Character Labeling
The character structure for procedures is as follows:Account Receivable and Denials:
Orthopedic firms' accounts receivable (AR) are being strained by rising deductibles and shorter filing deadlines. It can be challenging for many orthopedic doctors to remain on top of AR and fight for their patients' claims. Before the claim is written off, there are frequently one or two attempts made to resolve medical claim denials. This has a major effect on the revenue cycle and cash flow of a practice. Ineffective follow-up procedures for accounts receivable can practices significant financial losses and disturb the revenue cycle, so a well-defined follow-up procedure must be established.
MBHP’s Approach to Resolving Orthopedic Medical Billing Challenges:
Eligibility and Verification:
Since medical reimbursement policies vary widely, it's critical to be proactive in confirming insurance coverage, including any prerequisite insurance authorizations. If orthopedic medical billing services are not covered by Medicare, the patient is required to sign an Advanced Beneficiary Notice (ABN).
Timely Reimbursements:
At MediBill Health Partners, we ensure timely and accurate claim submissions, reducing delays and denials. Our efficient processes help orthopedic practices maintain consistent cash flow and financial stability, allowing them to focus more on patient care.
Efficiency in Administration:
An easy practice management software lowers administrative difficulties for both you and your personnel. Why do you still manage appointments, save patient profiles, and handle orthopedic billing with antiquated software when you have the newest scoping technology available?
Professional Orthopedic Coding and Billing Team:
Our billing and coding specialists stay up to date to tackle these problems as CMS/AMA/AAPC/ACA medical billing requirements continue to change. We chase every dollar owed in addition to routinely following up on unpaid or partially paid claims, managing rejections, and appealing insurer denials in compliance with the billing rules.
Expert AR Management:
As an orthopedic medical billing business, we take great pride in our ability to help our clients with the challenging chore of getting paid for old and aging claims. Our company thinks that every cent is worth every dollar that our clients give us. We pursue those outdated and aging claims that our clients have given up on collecting by employing a proactive AR management system and a skilled AR team.
Cost-Effective Solutions:
MBHP provides cost-effective orthopedic billing solutions, minimizing operational expenses while ensuring precise and compliant billing. This approach allows practices to maximize revenue without overspending on in-house resources.
Contact us now to speak with our specialists for an in-dapt conversation.
(347) 502-6465
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