You might have already realized that handling infusion billing is not a cakewalk for everyone as it involves newly updated rules and complex coding requirements. You should always stay ahead of the latest coding guidelines to avoid claim denials, hampered cash flow, and negative patient outcomes, especially in 2025.
Do you know how tricky medical billing can be, especially for gastroenterology? Don't worry as you do not need to be overwhelmed. You can manage your gastroenterology billing services well and keep your practice running smoothly by following the step-by-step processes mentioned below.
It is no denying that getting specialty pharmacy billing involves many patients who are primarily health insurance companies, patients and the healthcare professionals. When it comes to any medication specialty pharmacy billing, the process starts with a prescriber ordering a medication for its patient.
It is true that on an average, cardiologists look after 20 to 30 patients on a given day. With 50% of cardiologists over the age of 50, it is difficult for them to arrange their revenue cycle management experience.
According to the latest information with Forbes, nearly 50% of US citizens carry some form of medical debt which is an increase of 4% since 2020. Almost 48% had some form of healthcare expenses in the last year and 17% experienced a cost of $1500 or more with medical costs. Nearly, 80% of the US medical bills have some form of human errors.
The accounts receivable does not include these outstanding balances, which may take longer to be collected often with extra efforts or debts to recover them. Efficient AR management is the backbone of a strong revenue cycle, ensuring:
Do you ever feel confused about your health insurance? The truth is that you are not only the one feeling confused! The majority of mid and small scaled specialty pharmacies feel it difficult to understand and manage specialty pharmacy billing; and the reason is pretty straightforward. The rules set by insurance companies around specialty pharmacy drugs are very complex to comprehend for the novice administrative professionals.
The length of the service provided is the main stay in infusion billing. It is a time based service and cannot extend more than fifteen minutes for one unit. The infusion codes gets reported after that and the start and the stop time of each administration of medication has to be recorded accurately as it determines the correct assignment of CPT codes.
15. November 2024
It is true that healthcare accounts receivable is the heartbeat of your practice. Managing the details of AR, creating a system that allows in lowering the operational expenses and bringing about financial well being should be a motto for any healthcare provider.
It is important to note that infusion services are always based on the infusion length details which is always a time based service and can be 15 minutes or more. It can be reported after that.