Anesthesiology Medical BillingSolutions for Your Practice
CompMed understands the intricacies specific to anesthesia billing. Anesthesia billing is different and more complex than any other type of medical billing. CompMed manages this effort with a team of individuals who have experience in the anesthesia billing industry, many over 30 years, and who are specifically educated and certified in anesthesia billing and coding. CompMed’s main focus is on: collections, communication, and consultation.
Collectons: We use interfaces to ensure accurate data is obtained from the source location. This speeds charge capture and billing which reduces Days in A/R – but more importantly, it speeds receipt of payments. When charges are imported, we have an automated tool that reconciles charges created at the source location against charges billed out – to ensure that all work is captured and that revenue is not missed. CompMed’s certified anesthesia coders apply appropriate PQRS codes to ensure practices meet Quality Measure requirements. We also educate providers on MACRA/MIPS and can assist with this reporting on a Registry basis. We educate the group on how important it is to do Quality Reporting so that providers are not penalized, which reduces payments. We use the most advanced billing software that maximizes automation and artificial intelligence to give us the tools to identify claims that have not yet been paid, and then the ability to quickly collect and resolve those claims.
In the age of every-growing higher and higher deductibles, the client can choose to offer patients a new way to pay, with HonorCare. HonorCare allows the patient to make payments via a secure web portal, however, the client receives a one-time lump sum net payment. This allows us to post the payment to the patient’s account within a few business days, resolving that account, and further reduces Days in A/R. This is a great tool to implement to increase the practice’s cash flow with respect to patient responsibility. And CompMed doesn’t charge the client extra for this feature!
Merchant Card fees are always another area of concern to our clients. We use an industry leading merchant card service to ensure that the client enjoys the lowest credit card rates available. Lower expenses means the client has more available cash to disburse.
Communication: We provide Analytics reports to verify that the correct reimbursement is received according to the negotiated fee schedule contracted amounts related to a specific Conversion Factor, Billed Time Units, and/or by CPT or ASA code. CompMed processes Concurrency in an automated fashion to aid in correct billing. We are also able to handle anesthesia groups who only employ physicians or we can process billing for groups that employ physicians and CRNAs. We provide extensive custom reporting on Key Performance Indicators (KPI) to be able to data mine by Service Location, by Rendering Provider, by Surgeon, by Date of Service, Base Units, Time Units, Total Minutes, Total Units, Physical Status modifiers, OR Room Number, by Insurance, and many many other metrics.
Consultation: CompMed can assist groups with Hospital/facility contract negotiations as well as employee agreements. We can either process or assist with employee benefits administration, payroll, malpractice insurance and more.