March 31, 2021

oncology medical billing capital billing services

Oncology procedures are often complex and lengthy. Cancer treatment involves many hospital visits, rigorous tests, and post-procedural checkups. Besides the complicated treatment process, billing patients for oncology care can be cumbersome. To ensure you receive the full payment on time, you must take appropriate action at every stage of the process.

Medical billing involves using codes to assign charges for specific treatment accurately. Clinical information, particularly in the oncology field, must be handled carefully to avoid errors. Specific treatments like chemotherapy or radiation therapy must be billed using the right codes. Improper medical billing can lead to payment denials from insurance companies.

To ensure billing and coding are carried out effectively, oncology practices should hire a professional medical billing service. This is a cost-effective and efficient way to handle oncology billing, allowing practitioners to concentrate on offering comprehensive treatment knowing that administrative duties are in order.

The Oncology Billing Process

For all healthcare providers, medical billing is critical. Without accurately documenting and billing clients for every step of the treatment plan, an oncology practice won't receive full reimbursement.

As oncologists regularly deal with different forms of cancer, they encounter many codes. Codes used in everyday medicine belong to one of three code groups:

    1. International Classification of Diseases (ICD) codes
    2. Current Procedure Terminology (CPT) codes
    3. Healthcare Common Procedure Coding System (HCPCS)

The most common type of codes used by oncologists are CPT codes developed by the American Medical Association (AMA). Every year, they update the list of CPT codes to include new codes or remove those that are no longer necessary.

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Benefits of Hiring a Professional Billing Service

There are many benefits to outsourcing oncology billing and coding. It allows oncologists and their staff to spend their time more effectively. Focusing on patients results in improved patient satisfaction.

Using specialist medical billing services reduces errors that commonly occur during the billing process. Billers and coders stay up-to-date with health industry changes and updates, ensuring billing is handled correctly. This reduces the number of failed or rejected claims because of human error.

Professional oncology billing services help you gain reimbursement faster. With billing specialists dedicating their time to an oncologist's claims, there are fewer errors, and applications are processed faster. This results in quicker reimbursements, improving cash flow.

Using skilled oncology billing services, oncologists can simplify and improve revenue cycle management.

What Capital Billing Services Can Provide For Oncologists

At Capital Billing Services, we provide medical billing and coding services for a variety of healthcare businesses. Our team has many experienced and qualified specialists who are dedicated to delivering first-rate billing services.

Besides billing and coding, some core services we provide include:

Medical Credentialing

Oncologists must have medical credentialing to authenticate their work. We can help speed up the process involved in gaining credentials.

Financial Reporting

At Capital Billing Services, we use the latest software and technology to create detailed financial reports. This enables oncologists to easily determine their bottom line.

Contract Negotiations

Many healthcare businesses and physicians struggle in their dealings with insurance companies. As a key revenue source, we can negotiate insurance contracts on your behalf, ensuring you get the best deals.

Other services we offer include:

  • Billing and collections
  • Practice management solutions
  • Template and document preparation
  • Billing and coding services and consultation
  • Account management
  • Management services
  • Data entry
  • Data backup services
  • Ensuring full HIPAA compliance
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    Hire a Professional Medical Billing Service

    Contact Capital Billing Services today to take advantage of our expert billing and coding. We can become your medical billing and coding partner, enabling you to focus entirely on patients. If necessary, we can help you receive medical credentials, increasing your oncology practice scope.

    We offer all our clients month-to-month services, so there is no need to sign a long-term contract. Call our office today to speak to one of our staff or visit our website for more information on our oncology billing services.