A Light at the End of the Billing Tunnel for Oncologists
A Light at the End of the Billing Tunnel for Oncologists
For quite a while, medical billing has become much like a nightmare for oncology practices across the country. Cancer treatment can be a very expensive service for patients. Some people can’t afford the Medicare part B drug copay. Oncology practices have been forced to sacrifice their own medical billing to help needy patients.
When a patient can’t make a payment, usually the answer is simple, don’t provide them services. However, when it comes to cancer treatment, it is nearly impossible to turn down a patient for drugs. Many oncologists have been waiving the Medicare part B copay for their patients. This means they get less for medical billing reimbursement.
MedPAC, a government organization has recommended installing a fund to help the beneficiaries pay their oncology copays. This way, medical practices don’t suffer. Congress has not yet approved the fund, but the outlook is a good one.
If your oncology office is struggling to make ends meet, make sure your medical billing department is as efficient as possible. Hiring out your claims responsibilities may be a smart financial decision for your practice. The ability and efficiency of these medical billing agencies is unmatched. They are able to determine correct payments and incorrect claims quicker than anyone else.
Not only are medical billing companies good at what they do, but you can save money with them as well. Alleviating your practice of claims responsibilities decreases the need for so many employees. This will lower your salary payments, holiday pay, sick pay, and insurance costs. It is better to have experienced staff members handle your medical billing, than self-trained employees that aren’t as claim savvy.
MedPAC and congress are trying to assist your oncology practice, but for the time being, saving money is up to your medical billing department.
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