With changes in Current Procedural Terminology (CPT) codes and the implementation of ICD-10, many practices have faced OB/GYN medical billing and coding difficulties. That has ultimately increased claims denials to a greater extent and slowed the practice revenue cycle.
Owing to the substantial claims filing that comes with a practice covering obstetrics, anesthesia for the procedure, gynecology, and family planning, OBGYN Medical billing and coding present particular challenges. Here are some strategies you may employ to prevent claims denials and improve revenue for your OB/GYN office if your practice is experiencing a high number of denied claims that adversely impact your practice’s revenue. NEO MD is Expert in billing and coding for OBGYN practices.
What Is Obstetrics & Gynecology?
Obstetrics & Gynecology is a field of medicine that focuses on the care of women during pregnancy and delivery. Additionally, it also ensures the identification and treatment of various diseases threatening the female reproductive system. It also focuses on other issues affecting women’s health, including infertility, menopause, and hormone problems.
Avoid The Common Causes Of OBGYN Medical Billing Denials’
To enable you to avoid OB/GYN denials, it’s helpful to be aware of some of their most typical causes. According to a Physician’s Practice study, some of the surprise top denials in the past have included:
99214 – Level 4 outpatient medical appointment
99000 – An office lab for processing specimens
81002– non-automated urinalysis without a scope, code
99213 – Level 3 outpatient doctor visit
36415 – Regular blood collection
These denials take place for a variety of reasons.
They frequently receive a code 18 denial for a similar claim or service. Additionally, the insurance claims denial is related to an earlier surgery or service. These claims were refused because the procedure was separately paid. The payor does not pay for the price, or it might simply be that the application has errors or is missing crucial details necessary for reimbursement. Is it Time to Outsource OBGYN Medical Billing and Coding?
Due to the many claims filing required for OB/GYN billing and coding, outsourcing your billing and coding may be a wise choice for your practice. Even minor errors can result in claims denials. It is challenging to find billing and coding experts with competence in obstetrics & gynecology. That’s why many OB/GYN offices choose to outsource instead of waiting for denials and losses. Outsourcing allows your practice to concentrate on patient care while balancing efficient medical care and a steady flow of reimbursements. At the same time, it allows you to focus on patient care while someone else handles the billing and coding.
Experienced OBGYN Medical Billing Services Gets You More
It is crucial to recognize that understanding all of your practice’s revenue sources is the key to effective revenue cycle management. Therefore, by keeping an eye on, measuring, and controlling every aspect of your revenue cycle, our team will help you increase profitability.
The NEO MD team has excellent resources and expertise. Therefore, our revenue cycle management services are set up to collect cash from patients, claims remittances, and data that is supported by evidence. Getting paid from all these sources can assist ensure the medical payments for your clinic and increase its profitability.
The Medical Billing Companies directly affect the Revenue Cycle Management of your medical office. To be able to stay in the market for more extended periods, medical practices require long-term Revenue Cycle Management. It is important to outsource your RCM process to OBGYN Medical Billing Companies that have qualified and skilled coding staff. NEO MD has made significant progress in providing Medical Billing Services for healthcare providers. Furthermore, NEO has garnered the top SLOT among its competitors Revenue Cycle Management Companies.
OB/GYN Billing Services For Your Practice
Free Initial Credentialing.
To learn about the network status, our guidance of experts consults the carriers of your choice. Specifically, free initially and thereafter, a very affordable fee per provider.
Review Of The Fee Schedule.
We’ll assist with the investigation into suitable modification levels. We enter the permitted amounts from the network contracts we acquired to track and identify any incorrect reimbursements.
Workflow Consulting.
Our executive team has a total of more than 100 years of expertise. We can thus provide you with advice on how to create a team and methods that promise results.
Carrier Contracts Advice.
Consequently, there are contract pitfalls to look out for, and situations when choosing non-network status with troublesome carriers may be necessary.
Coding Proficiency.
The NEO MD team can “abstract” codes from supplier documentation or check your coded information for accuracy and completeness. Our efforts have resulted in more revenue prospects as well as compliance and audit survival. We provide services for chart audits and training for staff and providers. Additionally, we provide free medical billing Audits.
Fees Are Defined By Results.
Until we have secured reimbursement for you, we are not compensated.
No Surprise.
Postage, claims, statements and the requirement for customized reports and data analytics are all free.
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Rapid claim Submission.
Avoid delays or write-offs caused by inappropriate submissions. After receiving your billing, it will be submitted instantly.
Better Reimbursements of up to 10%.
Medical Coding Compliance
The staff at NEO MD Chiropractic Billing Services is well known for their proficiency in the field of medical coding. Typically, accurate and comprehensive documentation in the medical record is the first step in medical billing. As a result, coding is a process by which your intellectual labor and skills are transformed into a code used to bill insurance and prove the value of your service.
The ICD-10 codes may be of greatest note. Currently, the ICD-10 serves as the foundation for classifying diseases, injuries, medical interactions, and inpatient procedures in morbidity settings. As a consequence, the Neomdinc team has improved its business procedures and medical coding capabilities to better serve independent physicians.
The primary goal of medical coding is to convert a provider’s narrative or description of a condition, accident, or surgery into universal medical code numbers for the insurance claim. Because of this, our staff of qualified, professional medical coders provides increased compensation by accurately connecting services with a diagnosis. As a result, this does more than a merely secure proper payment. Additionally, it will reduce denials brought on by wrong diagnostic and treatment code associations.
OB/GYN Billing can rely on a few specific codes. To manage your OBGYN medical billing and coding, use the best healthcare billing companies, which have the competence to do all the specialized tasks. Furthermore, it would encourage the enhancement of reimbursement rates.
Reduce Medical Claim Denials
We know that the revenue cycle success begins with patient registration and continues throughout the claims cycle based on our expertise working with physicians and healthcare organizations. Patient demographic and financial data that is accurate up front reduces denials, rejected claims, and returned statement activity. Claim cleanliness is a crucial factor that prevents the denial from occurring, and the following elements have an influence on it:
- Patient registration data quality
- Prior-authorizations
- Non-covered services and medical necessity management
- Eligibility and benefits coverage
- Clinical documentation quality
- Coding
- Claim editing
- Payor rules & mandates
What Makes Us The Best OBGYN Medical Billing Company?
NEO MD stood best among competitors’ Revenue Cycle Management Companies due to the following cores;
- Our experts work hard to reduce your front-end denials by 20%.
- Refunds adjustment and Payment posting to improve the cash flow.
- We have consistently increased the collection rate for our clients because of the faster increase in the accuracy of fees and collection.
- Offer Provider & Staff Productivity Analysis
- Offer internal Medical Billing audits to uncover loopholes
- Improve RCM system efficiency with a robust credentialing team.
- Offer Services that are easily scalable at all times.
- Provide fortnightly financial and practice overviews
- Out of Network Negotiations.
- Deliver customized Revenue Cycle Management Services to unearth operation shortcomings.
- Identify potential under, over, and incorrect coding scenarios
- Use the latest technology and tools.
- Provide OBGYN 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).
