Why It Makes Sense to Outsource Oncology Medical Billing
Not only is oncology one of the most rapidly developing fields of medicine, it is also among the most far-reaching, with patients of all ages and types, and practitioners in many different settings. All these factors combine to make oncology medical billing among the most complex of all the different specializations.
The codes for medical billing are updated annually, but there are also changes to regulations, government program rules and insurer requirements that may happen all through the year. Failing to incorporate each payer’s demands and the latest codes into each claim will result in non-payment—and in this economy, no one can afford to not get paid for the services they provide.
On the other hand, trying to stay on top of all the changes can take so much time and attention that it is impossible to focus on patients and providing the care they need. Outsourcing oncology revenue cycle management has become a popular solution that increases revenue while allowing medical professionals to get back to focusing on patient care.
Oncology Billing Services Take the Pressure Off Physicians
By its very nature, oncology is one of the more stressful fields of medicine. The seriousness of the conditions being treated means that physicians are frequently dealing with life-threatening diseases and complex treatments. That makes it important to do anything possible to relieve job stress. Treatment technologies are developing rapidly, so keeping up with new codes, verifying coverage, and negotiating reimbursement rates all add more work. The good news is that these are all part of our oncology billing services!
Why You Should Outsource Oncology Billing to Specialists
There are many reasons oncology billing and coding is so complicated, starting with the fact that coding and billing in general is complex. Veltrix Health’s oncology revenue cycle management team knows how to effectively respond to denials and rejections, so that no unpaid claims are abandoned. Our billing and coding procedures have been streamlined to ensure efficient processing and our staff receive ongoing training to make sure errors are not repeated. Our RCM specialists will even handle any required annual payer adjustments and payback.
Get Full Appropriate Compensation
In order to get full compensation, claims must be submitted without errors, but must also include all the necessary details. That information must be included in the form of numeric modifiers defined in the medical billing codes. When claims for surgeries are in the tens of thousands of dollars, it is certainly not feasible to have reimbursements delayed by a month or more while these details are ironed out. By outsourcing to professional oncology medical billing services, providers can get claims submitted faster with far fewer of the errors and issues that cause rejections and denials.
Veltrix Health Masters the Challenges of Oncology Medical Billing
There are several factors that make oncology billing especially challenging for in-house billing teams. Our state-of-the-art software is one of the keys to our high success rates, and our highly trained and experienced billing staff is another. As soon as our team takes over medical billing for a business, the number of claim rejections drops dramatically. So, what makes us so different? We recognize every client is unique, and we make a point of addressing each of their needs. We also know that each area of specialization has its own set of requirements, so we make sure the assigned team is trained on them and knows what to do.
Increase Revenue and Reduce Administrative Stress by Outsourcing Oncology Billing Services to Veltrix Health
We Are Dedicated to Medical Billing and RCM
At Veltrix Health, we are dedicated to getting our clients the maximum reimbursements allowable. Claims are filed within 48 hours. We fix recurring denial issues quickly by identifying the cause and training our staff to prevent future errors. Our experienced oncology RCM team uses innovative strategies and proprietary software to maximize revenue—so you can focus on patient care while we handle your billing.
Your All-In-One RCM Solution
We handle your end-to-end revenue cycle needs: credentialing, insurer approvals, billing, coding, denial management, audits, and more. Veltrix Health customizes services based on your needs—pay only for what you use. Most clients start with billing and expand services after seeing results. Call 800-640-6409 or request a demo to learn how we increase your revenue and reduce administrative burden.