Radiation OncologySolutions for Your Practice
CompMed Solutions recognizes that billing for radiation oncology charges has some very different and specific nuances. We have mastered the complexities of the coding and billing for this type of episodic visit care. Patients are comforted to know that we understand this type of billing and can assist them quickly and compassionately.
Radiation Oncologists face different challenges than other practice types:
-Many times the registration staff does not understand the type of insurance that a patient may have or even what insurance to bill. CompMed works with the facility to build a relationship with their staff and work together to obtain the correct information. It is key that front-end staff facility also verify health insurance status and coverage. CompMed also offers Eligibility Verification. By doing this, delays in reimbursement can be avoided.
-Neglecting to inform the patient about their personal financial responsibility can be problematic. Again, it is important for CompMed to work with the frond-end staff to ensure that the patient is educated and well informed about what their estimated balance may be. 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 balances. 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.
-Many billing companies either do not work outstanding A/R or they do it manually. CompMed has an automated paperless Work Queue where outstanding claims are populated and worked. This allows the user to quickly identify any claim that has not been paid on time, and then allows that user to efficiently and timely work the claim through to resolution. No accounts get lost or sit idle! Additionally the Manager is able to monitor employee production and results, and then coaches the employee to further improve collections. CompMed’s software automates RARCs (Remittance Advice and Remark Codes) so that denials are routed to the appropriate place in the computer so that rejections can be worked and resolved quickly.
-Incomplete documentation by the provider continues to be an issue. CompMed identifies denials for insufficient information and not medically necessary and then works with each individual provider to improve their documentation so that it is complete and accurate. Incorrectly coding a medical service can lead to an increase in claim denials, CompMed regularly trains clinical staff on ICD-10 coding updates and changes in billing regulations.
Many Radiation Oncologists find that they just don’t have the data necessary to manage their practice. CompMed provides standard and customized reporting tailored to the practice’s needs.