http://affilprof.net/index.php/blog/ Medical Billing Specialist Since 1982 en kentynsupport@gmail.com Copyright 2011 2011-03-17T20:29:47+00:00 http://affilprof.net/blog/comments/finding-radiologys-silver-lining-improving-radiology-billing/ http://affilprof.net/blog/comments/finding-radiologys-silver-lining-improving-radiology-billing/#When:20:29:47Z My years in the radiology business have shown me that this industry is nothing if not resilient. Of course, our ability to adapt to change has been tested pretty severely in the past few years – since the DRA passed in 2005, it has sometimes seemed like one piece of bad news after another for imaging. And still we keep going, persevering, bringing patients the care they need while coping with an increasingly dire regulatory and reimbursement outlook.But there are signs that things are looking up for radiology – obscure economic indicators, if you will. One that caught my eye is a recently released KLAS survey showing that radiology providers plan to acquire 10% more equipment in 2011 than 2010. This buying inclination was also visible at RSNA in November, which, compared to 2009’s conference, was abuzz with energy. Radiology took a beating with the economic crisis that crippled the country, but it’s going to come back strong, the way it always does.At the heart of this industry’s astonishing ability to survive such Tectonic changes is its ingenuity. Radiologists are early and enthusiastic adapters of the technology and solutions that can make their work more efficient, enabling them to provide ever-improving quality while being more productive than anyone would’ve thought possible a decade ago. It’s hard not to feel a little bit smug about our sector of medicine sometimes. We always seem to turn lemons into lemonade.The lesson of the past six years in radiology is that there’s always room for improvement somewhere in a practice’s operations. There’s always a process that can be made moreefficient, be it scheduling or dictation or, as we at APS well know, billing. That’s why our singular focus is improving your practice’s bottom line—while providing the kind of personal, customized service you won’t get from a solution that’s merely software-based. We’re here to help, giving you the improved billing performance and business intelligence you need to optimize your profits.APS has a “Return to Client” process, which is an automated process allowing APS to educate and provide feedback to radiologists. APS is able to track and report back any radiology billing or coding issues to the client. The radiologist receives individual feedback on a weekly basis on how they can improve their dictation. By providing this “Return to Client” service, we ensure that our clients are always paid appropriately for what they do.It can be hard to see the silver lining when the bad news for imaging seems to keep coming—but believe me, it’s there. With a little ingenuity, we can keep improving the practice of radiology together, proving, once again, that this industry is strong enough and smart enough to withstand any changes thrown its way. 2011-03-17T20:29:47+00:00 http://affilprof.net/blog/comments/new-radiology-cpt-code-changes-coming-fast/ http://affilprof.net/blog/comments/new-radiology-cpt-code-changes-coming-fast/#When:20:06:56Z CPT for 2011 includes 212 new codes, 106 changed codes and 110 deleted codes, according to the American Medical Association's "Find a Code" Web site. In radiology alone, there are at least 48 changes that will most commonly affect imaging practices, according to the American Medical Association's "Find a Code" Web site. To keep current with these changes and be on top of the impacts to your practice, it important to consider the services of a medical billing company that keeps up with CPT changes and keeps you current without having to worry avot it. APS employs a staff of highly skilled and certified medical coders to ensure your radiology procedures are properly coded, and that your procedues are always coded to the latest CPT code standards. Medical Billing Industry News 2010-11-17T20:06:56+00:00 http://affilprof.net/blog/comments/radiology-groups-youre-not-alone-when-it-comes-to-reimbursement-rates/ http://affilprof.net/blog/comments/radiology-groups-youre-not-alone-when-it-comes-to-reimbursement-rates/#When:19:52:56Z If you’re dealing with lower reimbursement rates, lower procedure volumes and reduced collections, you’re not alone. If you’re struggling to absorb higher administrative and operating costs, you’re not alone. If you’ve experienced diminished revenue growth—well, you get the picture. The practice manager of a longstanding Affiliated Professional Services client recently shared their experience with us. In the past two years, the business of 15 radiologists practicing in a fairly typical suburban hospital has seen the perfect storm of volume decreasing, reimbursements decreasing, and an unfavorable shift in the payor mix. All in all, the practice’s revenue is down around 20%--and they aren’t alone. The reality of radiology in 2010 is that doctors are seeing fewer patients, and patients are increasingly opting out of high-cost procedures as more and more of the payment responsibility shifts to them. Is this an anomaly, or is it a long-term condition to which the industry will have to adapt itself? Looking back on 2009 and late 2008, it’s clear that the current trend began even before the recession officially struck, and it shows no signs of abating. Radiology’s reality today will be its reality for the foreseeable future. By this point, most practices have seen the writing on the wall, and are in the process of discussing new and innovative ways to stay profitable. What are your options in terms of maintaining income in this economic environment—voluntary pay cuts among partners, employee furlough, outsourcing certain services? Billing and collections can be one of the most burdensome aspects of a practice’s business. In many cases, it can account for as much as 14% of annual operating cost. APS has specialized in radiology billing since 1982; our client history indicates that we improve billing and collection performance for our practices by 5% to 25%, while reducing the overhead costs associated with an internal billing program by as much as 50%. At APS, our radiology billing fee is contingent upon our net collections for clients, so we’re motivated to maximize billing performance: our first-pass rate on claims is over 95%; we work every claim to maximize our clients’ revenue; and we don’t “off-shore” any aspect of our operations, which can lead to costly errors. With 28 years’ experience in the industry, we also know that the right data leveraged the right way can be the factor that makes or breaks a practice. That’s why we provide all of our clients with practice management information and reporting, helping them identify and make the best of opportunities as they arise. Boosting revenue while reducing costs is no easy feat, and opportunities to do so are increasingly rare in radiology. If you’re not already outsourcing your billing, now may be the time for your group to discuss your options. In facing down the challenges of today’s climate, you’re standing shoulder-to-shoulder with groups all over the country—and with APS. As a partner to practices nationwide, our business relies on helping our clients reduce overhead while maximizing reimbursement.  Times are tough for radiology groups, and may become tougher yet, but in needing to make tough decisions to stay profitable, you’re not alone.   Medical Billing Reimbursement and Collections 2010-11-17T19:52:56+00:00