Every stream in medical practice has its own set of requirements, approaches, and needs regarding medical billing. So is the coding for any neurology practice, which is quite complicated given that neurology is a complex avenue in the healthcare system. Thus, neurological practices need effective and efficient medical billing and coding services. Though it is possible to find companies dedicated to neurology medical billing, they might not have the much-needed experience. As a result, their inexperience can cause a neurological practice to lose revenue.
It is better to understand the requirements of neurological billing and find an outsourcing billing partner to help you instead of incurring those losses. Thereby, neurology practitioners must have experienced coders and billers at their disposal to ensure they can capitalize on the revenue from every patient without any backlogs.
How Do Neurology Billing & Coding Services Work?
In neurological practices, neurology billing is initiated when a patient visits the centre, and such a visit is recorded in detail. It entails entering the diagnosis made by the neurologist into the documents, follow-up visits mentioned, the medication received, and if any surgery or other care is provided to the patient. The practice’s staff must translate all these details into numerical or alpha-numerical digits for coding. Thereafter, healthcare providers use these codes to get reimbursement for the services provided.
The practice must keep track of the neurological services and assistance provided annually to conduct a cost analysis for the year-end cost. These details help the neurologists understand the neurological centre’s running cost and comply with federal, state, and other documentation. Any failure to adhere to the proper documentation will jeopardize not only the centre’s reputation but also the practice’s financial stability.
Furthermore, every neurological practice must ensure they are HIPAA-compliant, as any failure in doing so means they will incur severe penalties. It is essential that every neurological practice understands the medical billing and coding process and stay on top of the changes. But neurologists have two options available to ensure the effective working of neurology billing and coding. Let’s see what these options are:
What Does Neurology Billing & Coding Services Demand?
A neurology billing service can be done with the help of in-house staff or outsourcing the process. Having an in-house team hired by the healthcare centre for neurology means the practice is responsible for training them, updating the neurological billing software, and keeping up-to-date with all the neurology billing, coding, HIPAA compliance, and other regulatory changes. On the other hand, the outsourced company needs to be specialized in neurology medical billing that can take care of the following:
- Patient Eligibility Verification
The insurance verification and the patient’s eligibility must be done online, on a web portal, or via phone before the appointment is scheduled. This allows the patient to understand the payment they need to make or the services their insurers cover for the treatment before they meet the neurologist for the procedures.
- Coding
There needs to be a neurology coding team aware of the proper codes, coding process, and knowledge of handling patient accounts. The coders must convert the diagnosis into the correct codes after each patient’s interaction with the neurologist and send the bills to the insurance companies with the correct modifier codes to get the reimbursement.
- Billing Services
Technology has advanced quite effectively so that neurologists can use customized neurological billing software with the help of an experienced outsourcing billing partner. The software can record accurate patient information and prepare the bills for claim submission to insurance companies.
- Auditing
Whether the neurology billing is done by in-house staff or an outsourced company, every bill must be audited to ensure that they adhere to the HIPAA guidelines and that the codes match the services provided. Any mistake in these will result in the claim being rejected, delayed, or denied.
- Denial Management
Even when everything is done right, there are times when claims can be denied, but that doesn’t mean the practice has to lose revenue. Claim denial management is the process where the claims are rechecked, the reasons for the denial are understood, and the documentation is corrected so that it gets passed by the insurance company.
These are the steps that neurology billing must take to ensure no revenue loss. But managing all these while serving the patients can be challenging. That’s why one of the best ways to move forward and warrant no loss of revenue for the neurological services provided is by outsourcing neurology billing and coding.
Your Neurology Billing Outsourcing Partner!
Since many medical billing and coding companies claim to know about working with neurological facilities, very few can showcase their achievements. 24/7 Medical Billing Services is the leading neurology medical billing services provider that expertise in handling end-to-end medical billing services. A majority of EHR’s warrants handling valuable processes from patient scheduling to filing and organizing bills. And ,we ensure all the work is error-free.
We also ensure everything is in order, and every coding is correct before sending it to the providers.
Read more: How Are Outsourcing Neurology Billing Services Beneficial For The Healthcare Industry?
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