Plastic surgery billing is complex and requires both broad and deep expertise in the field in order to properly code, bill claims and handle the follow-up process. To appeal claims and answer questions from payers especially, your billing team should be knowledgeable about plastic surgery procedure and terminology. Read on for the full guide.
How Does Plastic Surgery Billing Work?
Medical billing is the financial backbone of a medical facility, no matter which specialties are offered. A clinic should be prepared for the unique requirements involved with each type of billing service from the moment a patient walks in the door. The diagnostics, treatment and results must all be documented to streamline the process of coding that comes next, followed by billing. The numerical codes are utilized by providers for reimbursement of your services. They are also key in analysis of the treatments you offer, patients seen and fees charged.
State and insurance-specific rules, HIPAA compliance and other factors come into play at this point. If something is coded incorrectly, filed with errors, etc. it would have to be refiled or appealed.
Plastic Surgery Billing Software
Plastic surgery billing software can handle a number of processes that help your practice and the revenue cycle run more smoothly, including scheduling, note organization and – yes – billing. However, a program requires updates and doesn’t always account for errors, which could lose revenue.
One of the biggest difficulties and typical shortcomings of plastic surgery billing is the inability to pursue underpayment. A software can track which accounts are underpaid and even remind you to send out new payer bills, but it can’t do the work for you. Sometimes getting paid requires a more active involvement.
Billing Advantage uses a software program called Kareo, a secure and reliable software that we can teach your practice to utilize as well as operate in your stead; in other words, you can have as much or as little involvement as you want. And no matter what, you have 24/7 access.
How Much Does Plastic Surgery Billing Service Cost?
Lost and incorrect documents, mistakes in coding and disorganization can all contribute to the need to refile, if not also a substantial revenue loss. In fact, inadequate coding and billing expertise is estimated to end in the loss of up to 20% of potential repayment. Thousands of dollars are lost each year this way. Many practices have opted to hire an experienced third party team like Billing Advantage to reduce time, stress and lost funding. The fee associated with hiring outside of your practice is far less than the reimbursement you would otherwise lose, thus resulting in an influx in revenue overall.
Billing Advantage has a one-time startup fee of $200 per clinician, plus 5-7% of the amount you receive. Get started with plastic surgery and other billing services or contact Billing Advantage for a practice management consultation.
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