What are the basic tips to boost Oncology Medical Billing and Coding?
Oncology Medical Billing involves complex tumors procedure and chemotherapies, and its coding requires experienced hands to turn it into reimbursements.
Medical Coding has a substantial influence on the revenue cycle performance of Oncology Medical Billing. As a result, it is vital to devote time to analyzing your coding department. It can assist you in recouping funds lost due to discharges that were not fully billed or in reducing rejections due to coding issues. You may improve Oncology coding quality by identifying critical clinical documentation mistakes utilizing medical coding analytics by facility or provider.
Your revenue cycle is an ongoing process. Many of the coding-related issues you discover during the first round of analysis and corrections may be fixed at a high level. You must constantly evaluate your Oncology coding and make structural improvements to guarantee that the found flaws do not repeat.
Tips to improve Oncology Coding Practices
These are the basic tips from our experience developing high-quality coding strategies.
1. Pay close consideration to HCCs and SDOH
Valid Coding for Risk Factors More than ever, HCC coding and SDOH (Social Determinants of Healthcare) collection are essential.
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HCC Coding
The CMS approved the use of Hierarchical Condition Categories (HCC) coding to compute Medicare Oncology Medical Billing reimbursement.
HCC codes utilize data from a patient's age, gender, and current health status to establish risk adjustment factors. It also calculates the patient's expected yearly healthcare costs. HCC coding helps clinicians to provide value-based care while obtaining equitable reimbursement for treating high-risk patients.
Doctors must record the patient's state with 100% accuracy using the MEAT (Monitoring, Evaluating, Assessing, and Treatment) criteria. This made it simpler for coders to give the correct codes.
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SDOH Coding
The same is true for correct social determinants of health (SDOH) coding, which improves patient care and satisfaction while decreasing readmission rates and sustaining a healthy revenue cycle. The five SDOH categories stated below can be evaluated;
1. Socioeconomic factors.
2. Educational background and quality.
3. Availability of high-quality healthcare.
4. Neighborhood where they live.
5. Social stratification and community context
Medical coders must assign "Z" codes to the SDOH. The "Z" codes assist in the identification of medications, personal medical history, family medical history, and illnesses. ICD-10-CM coders must become acquainted with documented SDOH and code them. The current practice of ignoring "Z" Codes is vital to the success of the Medical Coding function but will not last in the long run. Correct coding is the essence of good Oncology Medical Billing that ultimately boosts the revenue cycle.
2. Assess Claim Denial Reports with A Focus on EMR Workflows
Working on claim denials takes time since they involve modification, inquiry, and resubmission. Analyzing your claim denial records might assist you in identifying repeated instances of Oncology Medical Billing mistakes made by coders.
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Setting Up Systemic Checks to Optimize Your Coding Process
Recognize how your revenue cycle system operates and, if possible, provide systemic validations to help you discover common problems. Using system-driven validations, you may eliminate these mistakes and increase cash flow.
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Remedial Oncology Medical Billing and Coding Training
Oncology coding denials should be reviewed with your coding team on a regular basis, ideally every two weeks. Examine the top 5-10 coding-related denials to determine the cause for them. It is frequently the result of inadequate clinical documentation in the environment or a lack of awareness of the required codes for a certain procedure. A brainstorming session can assist you in resolving many of your present coding issues by training the coders on the right codes.
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The Coding Team's Workload
Medical billing companies have a persistent shortage of skilled medical coders. Because of a lack of professional resources, the Medical Coding team has unreasonably high-performance expectations. Many organizations overlook the issue of coder burnout.
3. Conduct Coding Compliance Audits: At Least Once A Year
Coders support health providers' quality compliance procedures by evaluating paperwork using standard codes and code quality.
Audits of coding compliance may enhance revenue cycle procedures, reduce the number of claim disputes and denials, and ensure adherence to regional and federal healthcare regulations. Accurate coding is the foundation of a profitable revenue cycle for oncology medical billing.
By ensuring that oncology medical coding methods adhere to the set norms and regulations, the number of denials requesting more information for payment can be decreased.
How does NEO MD Works?
Medical Billing is undergoing fast changes as a result of the No Surprises Act and current state legislation. Switching to third-party Revenue Cycle Management companies has never been more advantageous.
NEO MD provides unmatched Oncology Medical Billing and coding services in all 50 US states. Our billing services are tailored to the demands of the physician specifically and compliant with the mandatory Coding rules for a quick and efficient claims processing procedure. Furthermore, our Revenue Cycle Management services are frequently updated with relevant CMS rules.
Additionally, NEO MD offers the Best Medical Billing Services in terms of quality and value to assist in efficient cash flow and revenue. We provide affordable billing services with No Hidden charges.
What Makes NEO MD the Best Medical Billing Services Company?
NEO MD stood best among competitors due to ensuring the latest CMS Medical Billing and coding guidelines;
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Our experts work hard to reduce your front-end denials by 20%
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First level of Claim acceptance rate 95-98%
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Improve RCM system efficiency with a robust credentialing team
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Offer Provider & Staff Productivity Analysis
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Provide fortnightly financial and practice overviews
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Refunds adjustment and Payment posting to improve the cash flow
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Offer internal Medical Billing audits to uncover loopholes
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Identify potential under, over, and incorrect coding scenarios
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Deliver customized Revenue Cycle Management Services to unearth operation shortcomings
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Out of Network Negotiations
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Evolving state-of-the-art medical billing services for small practices
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We have consistently increased the collection rate for our clients because of the faster increase in the accuracy of fees and collection
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Provide Medical Billing and collection services that are of high quality and error-free
Let's Schedule a Demo to learn more about how we can improve your medical practice management. Get us at! (info@neomdinc.com) or (929) 502-3636).
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