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How to Boost Revenue Cycle Management through Outsourced Podiatry Medical Billing Services

December 20, 2017 | 4:42 pm
Published by | Krunal Popat

The ability of professional, independent podiatry billing service solves many issues faced by podiatrists who are trying to improve their revenue cycle management (RCM). By using outsourced podiatry medical billing services, they have the ability to process your medical billing so that claims are properly filed. The result is that your claims are properly filed and you get the money owed for your services.

How It Works

Medical billing and coding companies specialized in podiatry billing offer the expertise and ability to provide podiatrists a means to improve their RCM through effective services. This means proper coding and claim filing process designed to reduce denials and collect from all patients who were served by the podiatrist. By staying current with the latest coding, rules, and regulations from insurance providers, professional billing services offers a powerful means to streamline the claim processing.

Time Limits: Given that many procedural codes that are charged by podiatrists will have a set post-op period that insurance carriers will zero in on the day the service was delivered. Routine foot care for example has a 60-day required lapse period before the patient can be seen for the same service again. Following the proper time limits means having the reimbursement claim go through properly.

Correct Modifiers: CPT codes related to treatment of the foot, toe, or nail must be exact in terms of location, such as which foot and which toe like LF – T1 for example. Podiatry medical billing service provider will have the latest information on codes and insurance requirements so that they are properly fulfilled and comply with the latest standards.

Proper Coding: The coding must match the services that were performed so that the claim can be filed properly. For Medicare, claims that are filed must have the primary care physician along with the date last seen on the documents before any reimbursement can be delivered. This means that the podiatrist and billing agency must be clear and consistent to ensure that the proper claim is filed.

Additional Information: It’s important to note that the old practice of the Centers for Medicare and Medicaid Services will not acknowledge unspecified codes as part of their reimbursement practices. Today, they require better specificity for claims that use their ICD-10-CM/PCS filing. The grace period has long passed for accepting claims that do not have ICD-10 specificity, so any mistakes in that regard will be sent back to the medical practitioner.

It’s important to keep up with the latest changes in the reimbursement procedures, which is why outsourced podiatry medical billing services offers an advantage. Instead of having to hire and train staff to do the billing, you instead get trained, experienced professionals who are skilled in the podiatry billing services. This means that you pay less, but get better services that reduce mistakes on your filings which improve your revenue cycle management. For podiatrists who want to improve their cash flow, hiring professional medical billing services specialized to perform podiatry billing offer the answer they need at a price which is affordable.