Pain management is a rapidly growing field in the healthcare industry, with a diverse group of pain specialists. Pain management is a medical branch that deals with all types of pain, including spinal, neuropathic, and musculoskeletal. According to the American Academy of Pain Medicine, millions of people in the United States suffer from chronic pain each year, which costs billions of dollars. So, billing for pain management has become much more difficult in recent years, especially after the advent of ICD-10.
Therefore, choosing a reliable medical billing company is one of the most important decisions you’ll ever make for your practice. To deal with the complexity of pain management billing and modifiers, your biller and coder must have the necessary knowledge and experience.
So, keep reading this article if you want to get more information about the importance of medical billing companies in the pain management medical sector.
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The Major Role of Medical Billing Companies in Pain Management Billing Services:
Pain management services include pain specialists, durable medical equipment (DME), physical medicine, and physical therapy. Therefore, attempting to do medical billing on your own is a very difficult task. As a result, hiring a reputable billing company is very beneficial because these companies use cutting-edge medical billing software for timely claim submissions and denial management services.
Here are some of the advantages that a pain management medical billing company provides to its clients.
- Maximize the revenue stream of the practices
- Having more time to deal with patients
- Eliminating issues with over-coding and under-coding
- Efficient and prompt denial management services.
Efficient Billing and Claim Denial Management.
Claims are frequently rejected or denied due to minor flaws or coding errors. Every letter must perfectly match the patient record, and payers do not even attempt to figure out what was meant if something appears to be wrong. The RCM process for pain management billing focuses on every part of patient care, from patient intake to payment collection, so there are a variety of mistakes that may be made while inputting just the correct information.
Medical billing and other revenue cycle management activities, such as claim rejection management, can be outsourced to guarantee that your practice optimizes revenue while avoiding over-coding and under-coding concerns.
Therefore, hiring a professional medical billing company will save your time and provide you with the following benefits:
- Reduced coding and billing costs.
- Increased collections as a result of more accurate and complete coding—all in accordance with the law.
- Reduced days in A/R.
- A minimum coding error earns maximum revenue.
Challenges associated with pain management billing services
With so many obstacles to overcome, it’s even more critical that practitioners aren’t overwhelmed by billing concerns related to pain management. In many areas of medicine, institutions are decreasing expenses and payers are searching for methods to decrease what they pay, including being extremely picky about billing and coding errors that result in rejected or denied claims.
It is conceivable for pain management clinics to offer fewer pain management services than other health care providers. These major obstacles were discovered after an analysis of the most common concerns in pain management medical billing services.
Final Verdict
Whenever you need to get paid on time for the financial health of your pain management practice, then you may rely on Medcare MSO. We handle revenue cycle management (RCM) from start to finish, allowing pain management doctors and staff to focus on patients while we handle the required billing and coding. We include payroll costs, revenue increments, and more in our services, in addition to maintaining compliance and AR recovery assistance. We feel that knowing how we go about the process would help our clients better comprehend and trust the quality of our services. Thanks to our professional services and well-trained team, we can streamline the billing process and complete collections on time.
Therefore, call us right now or visit our website to get the best pain management billing services for your practice
