March 31, 2021

pathology medical billing services capital billing services

Pathology plays a crucial role in virtually every specialist area of medicine. Pathologists are experts in human illnesses and diseases and their knowledge and studies guide health and medical workers on the best approaches for treating certain diseases. They also work on creating technologies and processes to combat illnesses.

Much of a pathologist's time is spent researching to advance and improve medicine. From developing treatments against life-threatening diseases like cancer to creating alternative treatments for common illnesses, a pathologists' time is extremely valuable.

Unfortunately, like with most other healthcare professions, pathologists often struggle to receive full reimbursement for the services they provide. Medical billing is a complicated and difficult process, but it is essential in gaining successful payments from clients. By outsourcing your medical billing to professional pathology medical billing services, you can rest easy knowing you will receive full payment promptly.

Medical Billing and Coding

Medical billing is the process used to generate and receive payment for the provision of health services. To receive reimbursement from insurance companies, medical providers must carefully go through each step of the billing process. Errors or mistakes throughout the process often lead to claims being rejected.

Medical billing applications require a lot of paperwork. Some applications take as long as 10 hours to complete. They are also frequently denied, meaning healthcare practitioners must restart the time-consuming process again.

Medical coding refers to the terminology used to determine healthcare diagnosis, procedures, services, and equipment. It uses alphanumeric codes, with each code identifying a unique aspect of the medical industry. Medical codes must be applied correctly when billing for services.

Pathologists can use medical codes to request payment for a patient's diagnosis, treatment, services, supplies, and equipment. All this information is then stored in the person's medical records.

Medical codes usually belong to one of three groups. Depending on the specific area of medicine that a pathologist is working on, they may encounter codes from some or all of these code sets.

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

The American Medical Association (AMA) created these codes. Every year, they update the list of CPT codes with new additions and remove codes that are no longer needed.

Because of the complex nature of billing and coding and the amount of time it takes to complete, pathologists and other medical professionals often hire professional billing services to handle this area of business.

medical billing and coding capital billing services

Benefits of Hiring a Professional Billing Service

There are several key benefits to hiring a dedicated billing and coding service. Some of the most important considerations include:

  • More time to focus on core competencies
  • Improved revenue cycle management
  • Fewer payment rejections
  • Higher reimbursement payments
  • Fewer coding errors
  • What Capital Billing Services Can Do for a Pathology Practitioner

    Capital Billing Services provides professional pathology medical billing solutions for pathology practices. We partner with pathologists, leveraging software and expertise to ensure pathology practices gain maximum reimbursement from insurance companies.

    Although we offer medical billing services to various types of healthcare businesses, we specialize in pathology billing. Our comprehensive billing services include:

  • Billing and coding using first-rate billing software
  • Follow-ups, claim, and payment collections
  • Financial reporting to improve efficiency, cash flow, and practice management
  • Clinical consultation services
  • Template and document preparation
  • Insurance contract negotiations
  • Data entry and management services
  • Data backup services
  • Billing companies allow pathologists to spend more time focusing on patients and laboratory requirements. Working with a professional billing company like Capital Billing Services also helps ensure compliance with regulatory bodies such as the Health Insurance Portability and Accountability Act (HIPAA).

    Most importantly, billing companies help you reduce the number of rejected claims. This subsequently increases payment collection rates, ultimately improving your bottom line.

    Medical Credentialing

    All medical-based service providers need medical credentialing. It provides proof to each patient that a pathologist and his or her team meet professional healthcare standards. Credentialing can help establish trust among patients, better enabling you to acquire new ones. At Capital Billing Services, we assist clients in obtaining medical credentials.

    Work with a Professional Medical Billing Service

    For any pathology practitioners who need help in medical billing and coding, outsourcing to a company like Capital Billing Services is an excellent choice. We combine our resources and years of experience to help maximize medical professionals' revenue. We provide premium services, ensuring clients earn a significant return on reimbursements.

    Besides our billing and coding services, we support pathologists in receiving their medical credentials as quickly as possible. This allows them to expand their client base, leading to more business. We understand that other pathology billing services require long-term commitments. That's why we offer our services on a month-to-month basis, giving our clients more control.

    Don't hesitate to contact us today for more information on our range of services. Call our office or submit a question through our website or social media channels.

    professional medical billing service capital billing services