Cardiology Billing & Coding Software
Keep your practice finances in order with help from AdvancedMD medical billing and coding software for cardiology practices.
The financial health of your practice is one of the most important aspects of care, but spending too much time poring over financial reports and analyzing data can take away from patient care. We make it easy to focus on both, with simplified billing and coding tools that:
One of the key indicators of the financial health of a practice is your ability to get claims out the door in a timely manner so you can get reimbursed for the care you provide. Cardiology clinics that struggle to process claims and submit them for payment often find that the longer it takes to get those claims out, the less likely you will collect the full amount you are owed.
Other costly mistakes include not following up on denied claims in a timely manner, and not having a system in place to bill patients for the amount they owe based on their deductible and out-of-pocket maximums for the year. As more of the burden of paying for healthcare shifts from insurance to patients (with high deductible health plans or uninsured patients) it’s critical that you have the financial tools to collect from both payers and patients.
AdvancedMD makes it easier to get claims out the door of your cardiology practice with several features that streamline the medical coding and billing process, including:
Cardiology practices that don’t get paid the full reimbursement amount they are owed will struggle to maintain a healthy bottom line. One of the most common reasons that practices miss out on reimbursements is errors that lead to claims denials. Some studies reveal that as many as 50% of denied claims are never reworked, which could represent thousands of dollars in lost revenue every year for your cardiology practice.
The easiest way to correct this issue is with software tools that help you submit clean claims so you don’t have to worry about denials. AdvancedMD offers multiple software features that help your clinic get error-free claims out the door quickly.
We keep your software updated with any changes to billing codes so you are always selecting from the most current list of cardiology codes to submit to payers. Using incorrect or expired codes, or coding to a lower level of specificity means missed revenue opportunities. There are tens of thousands of billing codes, and they are updated every year when the World Health Organization makes changes to the International Classification of Diseases system (ICD).
AdvancedMD makes it easy to automatically verify every insurance plan at the time of scheduling, then again before the patient’s appointment. This helps your team find and correct insurance plan changes or errors that might otherwise trigger a denied claim. They can contact the patient before the appointment to get the correct or most updated insurance plan information so it’s accurate when it goes to your billing team.
Data transfer is one of the most common ways that your staff can inadvertently introduce errors into the claims process. When you are using a system that is not integrated with a single shared database, staff members have to manually download and upload data from one system to another, or type it in by hand. Both of these methods can result in data loss or errors, and incorrect information in your billing software when it comes time to submit a claim. Even a small error in the patient’s social security number, insurance ID, or address can lead to claim denial. With a fully integrated system you get a shared database so all the patient demographics and encounter information is pulled directly into the billing system without any opportunity for errors.
Our software includes the most advanced Clearinghouse services to check claims for accuracy before they go out. It inspects for more than 3.5 million potential errors in claims, and flags anything that might be a problem when the claim goes out to payers. Your team gets a simple worklist to address flagged items and quickly move claims through your system. The system includes payer-specific information and requirements so you can make sure you include all the relevant details as required by CMS (Medicare and Medicaid) as well as commercial insurance. These services result in one of the highest first-pass resolution rates in the industry.
Give supervisors a chance to check claims quickly before they go out as well with our Claims Review tools. Review claims in batches and check for common errors, then approve them with a single click. Double-check the work of new billing and coding team members to avoid a higher rate of claims denials. You can also bypass the claims check process for experienced employees or those with low error rates to get those claims out the door even faster.
AdvancedMD also includes reporting features with advanced analytics and easy-to-read formats. Use our predesigned templates for the most common financial reports or create your own, and have them sent to the inbox of your key stakeholders at regular intervals. The right reporting tools will help you discover strengths and weaknesses in your billing and finances to improve your practice health.
Even the best software system won’t be able to eliminate all denied claims, so our software helps you find and work those claims that do get rejected or denied. When that happens your team will get a simple priority worklist to address the issues and resubmit those claims for processing. About half of claims that are denied are never reworked, and if that is happening at your practice now you are missing out on significant revenue opportunities. Make it easier to address denied claims, even if you have a small billing staff, with AdvancedMD medical billing and coding software for cardiology clinics.
Schedule a free, personalized live demo to see our billing software in action and learn more about how it can improve the bottom line for your cardiology practice.
Jed Shay, MD
The Pain Care Center
Keith Berkowitz, MD
Center for Balanced Health
Estaban Lavato, MD
La Loma Medical Center
Raju Raval, MDRead the story ›