Radiology Billing Services
The ClaimCare Medical Billing Company has significant experience and expertise in radiology billing that can generate a major increase in collections for your radiology practice. Medical billers and medical billing services are the financial backbone of a medical practice. Practices that do not have the right medical billing expertise in their corner can easily lose more than 20 percent of their practice's potential revenue.
As physicians are taking into consideration the use of medical billing services to stop the hemorrhaging of cash from their practices, they are faced with a broad range of options. On the diminutive end of the spectrum are home-based medical billers. On the opposite end of the spectrum are medical billing companies that employ hundreds of medical billers and have thousands of clients.
Medical billing is a highly complex area and it requires experience-based knowledge and expertise to contend with insurance companies. When it comes to radiology billing, the situation gets even more complex. Such complexity can be handled only by a company that is staffed with well trained radiology billing professionals. The medical billing specialist must be familiar with the specific codes and rules that make up the world of radiology billing.
As the cost of providing radiology related healthcare services continues to rise, medical institutions and radiology practices cannot afford to leave revenue uncollected by billing companies or freelancers that are not knowledgeable in radiology billing. It is also important to keep in mind some billing companies may promote themselves as large radiology billing service providers but in reality they sub-contract the radiology billing to freelancers who work from home. Hiring such companies will lead to lost revenue because of the lack of proper process, controls, and training.
One of the major drawbacks of hiring a medical billing company that does not specialize in radiology billing is their lack of familiarity with the procedures and the terminologies used. Even if the medical billing company serves one or two radiologists, they will lack the depth and breadth of expertise required for successful radiology billing. Moreover if the hired company does not specialize in billing for radiologists, then they will not have the expertise to effectively appeal denied claims or answer questions raised by the insurance companies.
A typical shortcoming with medical billing services that do not specialize in radiology billing is the inability to properly track and pursue insurance underpayments. These underpayments cost most radiologists about 5% of their potential income.
The bottom-line: It is not worth the risk for a radiologist to use a billing company that does not focus on radiology billing.
To learn more about how ClaimCare Medical Billing Services can help your radiology practice please fill out the form to the left or contact a local ClaimCare office.