Increase your cancer and radiation treatment collections with AltuMED’s specialized oncology billing services. Our dedicated and customized solutions help ensure the financial stability of your practice. More importantly, we take responsibility for your entire revenue lifecycle to help you stay laser-focused on patient care.
Oncology medical billing can be more challenging than other specialties. This is because it commonly deals with expensive drugs and frequently changing treatment protocols. Many patients with malignancies and cancer need multiple visits and therapy modifications. The chance of errors in the billing and coding of such treatments is always high.
Outsourcing your oncology medical billing to AltuMED can help prevent such errors. Our billing process involves:
We perform each step of your oncology medical billing with the dedication to bring you sustained revenue.
At AltuMED, we use a tried-and-tested oncology billing framework to manage your RCM. Whether you are a standalone cancer treatment center or a hospital with a radiation and oncology department, this framework comprises the complete practice management solution. It is based on the following stepwise process:
We contact payers and insurers to get the insurance details of every cancer patient. We also get pre-authorization to ensure you deliver reimbursable treatment. This includes checking for copayment requirements and calculating the patient’s responsibility.
Our billers and coders document all the billable oncology services with accuracy. This process involves deciphering ICD and CPT codes and modifiers to determine the treatment cost. And it requires particular skills, which we have built into our billing team. In other words, we bill all your oncology services for complete payments.
Once the claim is ready, we send it to your patients or their payers. Even at that time, we double-check everything to ensure accuracy. And like other quality RCM service providers, we submit your claims electronically over a secure medium.
The process doesn’t stop there. After submission, we perform diligent follow-up to manage rejections preemptively.
We prepare invoices of processed claims and send them to payers and patients to secure collections. We also keep track of your outstanding balances and follow up on them to push for the fund release. Also, we keep an eye on the changing reimbursement rates.
Revenue cycle management is a strategic process that requires informed decision-making from your side. Our real-time reporting allows you to look into your RCM processes whenever you want. These reports cover all the critical metrics, such as:
We equip you with essential information needed for strategic decision-making.
CMS frequently updates billing guidelines for radiation oncology due to frequent medical and technological advancements in the field. These guidelines primarily cover codes, including ICD-10, CPT, and HCPCS. The documentation requirements also change accordingly.
These guideline changes can be hard to keep up with, but not for AltuMED. Our experienced billers and coders adhere to the latest guidelines to ensure compliance. They understand all the nuances of radiation oncology billing, thanks to their extensive knowledge of the industry. This is why we have maintained a clean claim ratio of over 97%.
Besides a highly capable team, we use the latest tech to streamline your oncology medical billing. It starts with a smooth integration of EHR into our billing process. For this, you do not need to change the EHR format. Our intelligent system identifies all the related health record entries in your existing record and uses them in the billing process.
Moving forward, we have specialized medical billing software. It is an AI-enabled system that assists during charge capturing, claim submission, and denial management. The automation it brings helps accelerate the billing process while eliminating missed charges.
Another piece of soft tech we use is the scrubber. This smart being scans all your claims for mistakes and lists down if it finds any. It eliminates the hassle of checking the claims manually, accelerating the entire billing process. The mistakes our scrubber can catch include:
With more than 15 years of experience, AltuMED is the name you can trust for your oncology medical billing. With us, you can rest assured of your oncology RCM success.
Allow AltuMED to handle your oncology billing and what you do best, specialize in delivering quality cancer care.
Get in touch with us today to know more and enhance reimbursement!
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