In healthcare, hematologists play an important role in detecting blood-related diseases and providing treatment for the same. These physicians are board-certified specialists in hematology, a study to examine the cause of blood-related diseases, their diagnosis, and prevention. Diseases like hemophilia, sickle cell anemia, thrombus, bleeding disorders, and blood cancers like leukemia, multiple myeloma, and lymphoma are a part of hematology. The routine work of hematologists is inclusive of patient treatment and lab work where they view blood films and bone marrow slides.
The daily routine of a hematologist is filled with copious amounts of work. Moreover, dealing with mild diseases and cancer at the same time makes the process of Physician medical billing more complex. The dedication that any healthcare provider has towards patients can only be justified with the best hematology medical billing services.
These are the Medical Billing Services that every Hematologist should look for:
Proficiency In Medical Coding
Accurate knowledge of specific medical codes is a prerequisite for a successful medical billing system. If the procedure of coding is done incorrectly then it can have a direct effect on the reimbursement of a physician. Not all medical billing partners hold expertise in hematology medical coding. You should look for outsourcing partners that have a background in hematology medical billing services and are also proficient with required codes.
Eligibility Verification Services
One part of medical billing is to check prior to the treatment whether patients are eligible to render the services. Usually, a patient’s insurance coverage specifies the various treatments and services that can be used. This verification is essential to prevent delays in reimbursements and denials. You must choose a service that ascertains if the patients are eligible for insurance benefits and if their policy contains hematology or not.
Accounts Receivable and Denial Management
Accounts Receivable is the amount of reimbursement that a physician is yet to receive from the insurance company. Look for a service partner that will take measures to reduce the number of days taken by claims in accounts receivable so that the payment is received on time.
Rejected claims cause a noteworthy revenue loss to healthcare providers. Efficient billing systems have experts to keep track of claim submissions. They identify reasons for claim denials, fix them, and resubmit the medical claims to get the remuneration.
Electronic Health Records (EHR)
EHR is software used for the collection, recording, and maintenance of patient information. The maintained record has all the information about the patient like medical history, diagnoses, prescriptions, lab results, and other important data. This helps in streamlining the process of claim submissions, reducing the chances of errors. It also helps in maintaining the confidentiality of personal information.
Credentialing Services
This mandatory process enlists physicians and healthcare providers with insurance industries. It adds medical health providers to the network of hospitals, clinics, and medical centers associated with the insurer. It helps healthcare providers in easy verification and expanding their reach. Hematology medical billing services that provide credentialing are vital to reduce claim denials and revenue losses.
Revenue Cycle Management Solutions
Effective revenue cycle management is a result of efficient technology. The financial success of any healthcare provider can be defined by trustworthy revenue cycle management and billing solutions. RCM systems give insight into denied claims with the help of data analytics and a dashboard. As a result, improvements can be made to optimize the revenue cycle. The type of RCM software and analytics used by medical billing services is unavoidable to make a decision regarding medical billing companies.
Conclusion
There is a large pool of medical billing services in the market. There are a number of factors to be considered while making an informed choice. Getting to know the services provided may not be enough to decide. If you are a hematologist looking for hematology medical billing services, then your search is over.
Unify healthcare services has a team of experienced professionals proficient in medical billing & coding of hematology. They perform consistent accounts receivables and focus on switching denial management mode to denial prevention. With our knowledge and excellence, you can streamline your revenue.
