Unlock the Secrets to Successful Oncology Billing
Oncology billing overlaps with numerous other specialties. And so, sound knowledge of ICD-10-CM and CPT codes for cross-specialty services is desired. Without such expertise, providers can experience frequent errors in their reimbursement claims.
As it is, most oncology providers lose a sizeable portion of their revenue due to billing mistakes. And billing operations become even more error-prone when billing professionals lack cross-specialty billing & coding knowledge.
However, some oncology providers are able to minimize their billing errors. These successful oncology billing operations can be grouped into two broad groups.
The two groups are:
- Streamlined billing operations managed in-house
- Outsourced & optimized billing operations
Both these groups have specific workflows designed to meet their oncology billing requirements. The primary differences between these groups lie in their scale of operations, and professional expertise.
How Oncology Billing Services Improve Accuracy & Efficiency
There are various factors that contribute to improving oncology billing accuracy. While providers can manage billing in-house, the advantages of partnering with oncology billing services are numerous.
Some of the most important secret features in successful oncology billing operations are:
1) Streamlined and optimized billing processes
Errors in reimbursement claims are common if billing operations are not streamlined. And so after partnering with providers, oncology billing services first streamline billing workflows to make admin operations smooth and minimize back and forth. An efficient workflow accounts for all billing requirements and ensures accurate details are entered on claims before moving to the next step.
2) Certified and experienced billing professionals
Certified and experienced billing specialists are the backbone of billing operations. Oncology billing services are able to reduce errors more efficiently than providers because of their expertise in health care admin functions including billing. By ensuring certified professionals work on their claims, oncology billing companies can reduce providers’ billing errors quickly.
3) Expertise in working on electronic verification & submission methods
Verifying insurance & eligibility benefits, and submitting claims using online portals can reduce oncology billing errors related to documentation and data entry. As electronic submission portals flag missing or incorrect information, errors can be easily spotted and rectified before submission.
4) Access to detailed and regularly updated guides to quickly resolve queries & minimize errors
Some trusted oncology billing services maintain comprehensive guides to help resolve problems while processing medical bills. From payer policies to documentation requirements, with these guides oncology billers can rectify errors and double-check claims for accuracy before submission to payers.
For more information on how our oncology billing services can support all your practice management needs, please contact Sunknowledge Services Inc., a HIPPA-compliant healthcare revenue cycle management organization serving US providers & payers since 2007.
