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Many people have heard about neurology medical billing but not everyone fully understands what it represents and how it functions.
The human nervous system is the command system that helps the body send messages to the brain and all the other parts of the body.
When there is a problem with any part of the nervous system, it can have a big negative effect on the quality of life and sometimes leads to total shutdown of the body.
Neurologists are medical professionals with years of training and certification to treat anyone suffering from any problem that relates to the nervous system. They receive their payment for diagnosing and treatment of patients through a process called "Neurology Medical Billing"
With neurology medical billing, neurologists file payment claims to insurance companies to receive payment for the treatment they provide for their patients.
In this comprehensive blog, Unify Medicraft walks us through the neurology medical billing services. By the end, you will have all the information and resources you need to handle this crucial area of neurology practice.
What is the Neurology Medical Billing Process?
The neurology medical billing process is a series of important steps that lead to the payment of neurologists for the treatment they provide for their patients.
The steps start from the moment the patients book an appointment to the final treatment. These include patient registration, insurance eligibility check, coding, claim filling and receiving payment.
For neurologist to receive their payment, they must ensure all the billing processes are error-free and claim is filled within the insurance company recommended.
Neurology Medical Billing Guidelines
The role of the neurology medical billing guidelines is to ensure that neurologists follow all the regulations when filling their billing process and treating their patients.
Some of these guidelines include using accurate neurology billing codes, patient registration, claim submission, denial management, documenting patient information, and compliance with insurance guidelines.
Complying with all these guidelines reduces the likelihood of billing errors. This action will boost overall operational efficiency and revenue cycle management.
What Are the Steps of Neurology Medical Billing Services?
Patient Registration
Patient registration is the first important step in neurology medical billing services. This process contains all the information of the patients such as insurance details, name, medical history, and age. It also determines if a neurologist will get their payment from insurance companies after submitting a claim as any mistakes can lead to denial.
Insurance Eligibility Verification
One of the mistakes many neurologists make is not checking the insurance eligibility of their patients before treating them. You cannot ignore this step no matter whatever the situation is.
Before patient treatment, healthcare providers must check if the patient has the right coverage for the treatment they need. Insurance eligibility for neurology treatment often depends on the patient’s insurance coverage. This coverage can sometimes have terms and conditions therefore, a pre-authorization may be needed.
Accurate insurance verification reduces the risk of denied claims and ensures neurologists are well-paid for their services.
Treatment and Charge Capture
The next step in the neurology revenue cycle management is ensuring patients are treated appropriately and effectively capturing charges. Documenting every treatment process is crucial for the healthcare provider to receive payment for the service rendered. This includes diagnosis, tests, procedures performed, treatment and the time spent with the patient. Having all the treatment details recorded ensures the accurate amount is filled to the patient’s insurance company.
Claims Submission
After the treatment is translated by medical coders into industry-recognized CPT and ICD-10 codes, healthcare providers are required to submit their claim to the patient's insurance company. The claim then passes through a thorough verification to ensure it meets HIPAA and the patient insurance coverage and payment policy requirements.
Payment
After claims submission, the insurance company will review and process the claims. The healthcare provider is then reimbursed once the claim passes all the insurance company's verification process and is approved.
Payment invoice is sent to patients if they have to pay a balance after insurance payout. Healthcare providers also need to communicate with their patient when there is a delay in the payment in case of a claim denial, the healthcare provider will have to appeal or resubmit the claim.
Data Reporting
Data reporting helps healthcare providers track the finances of their practice. This last and important step allows providers to know how their cash flow and finding solutions improve in areas where they are lacking. It also helps them see where there is a problem and make the right decision.
Challenges for Neurology Medical Billing and Coding
The process of medical billing for neurology can be very challenging due to inability to keep up with constant changes in the industrial coding and insurance policies. Here are other challenges faced by neurologists in their practice.
Filling with Incorrect Codes
The procedures, tests, and treatments of the nervous system are very versatile and require specific codes, making it easy to use the wrong code when filing an insurance claim. For example: Similar symptoms in neurological treatment are coded based on their diagnosis. The code for an unknown tremor is different from the one for a tremor characterized by involuntary and rhythmic shaking. Using incorrect medical codes can lead to insurance companies rejecting the claims or delays in payment.
Constant Code Changes
Neurology codes frequently change due to the development in medical technology, practices, and insurance regulations. These make it easy for medical coders to not use outdated or expired codes while submitting an insurance claim. Therefore, it is important for health providers to ensure their medical coders know the latest coding terminologies to avoid claim rejection.
Administrative Burden
When neurology medical billers are processing a lot of claims everyday manually, they spend hours filling in the codes and submitting claims. This process can be exhausting and cause errors like mistyping a digit in an insurance form band filling multiple claims for a single patient. These human errors can lead to unfulfilled payments and delays in reimbursement.
Tips for Streamlining Neurology Medical Billing
Verify Insurance Coverage
One of the best ways to streamline your medical billing for neurology is by verifying your patient insurance coverage before providing treatment. Every insurance plan always has specific insurance coverage rules. For example: An insurance plan might cover only part of the treatment, some treatment or specific procedures with conditions. When healthcare providers check if the patient has insurance coverage for the treatment, it reduces claim denial and ensures they are well compensated for their services.
Accurate Documentation
Having detailed documentation of the patient's visit, diagnosis and treatment is essential to file the insurance claim correctly. Neurological treatment needs the exact descriptions and specific codes to explain the diagnosis and treatment. Patient documentation errors can lead to coding errors and claim denials.
On-Time Submit Claims
Every insurance company has a specific time frame when claims should be submitted. Failure to adhere to these deadlines will result in the cancellation or denial of the claim. Therefore, neurology billers must be aware of these deadlines to prevent unnecessary revenue loss.
Stay Up to Date with Regulations
With the medical billing industry constantly evolving, staying up to date with new regulations and policies is very important. If you don't, you are liable to break claim submission regulations or use outdated codes when filing.
Use Medical Billing Software
With medical billing software, healthcare professionals are able to manage their billing process. The software ensures patient information is accurate and assigns the right codes for every neurological treatment. This eliminates human errors and ensures every claim submitted is accurate.
Neurology Medical Billing Software
Filling and tracking payments manually for neurologists can be very challenging and takes a lot of hours daily. This can lead to administrative burden, and human error, and ultimately affect their revenue. The best way to streamline your practice is by using medical billing for neurology. With features such as automatic medical coding, electronic claims submission, and patient eligibility verification, you can rest assured that you will be reimbursed after your claim submission.
FAQs about Neurology Medical Billing Services
What is the CPT Code for Neurology?
Current Procedural Terminology CPT codes for neurology are known as the five-digit codes in neurology practices used in the billing process to explain patient diagnosis and treatments.
What is the ICD 10 Code for Neurology?
The ICD 10 code for neurology is an alphanumeric code used to explain neurological conditions, diseases and procedures.
What Technologies Improve Neurology Billing Efficiency?
- Electronic Health Records Systems
- Revenue Cycle Management Software
- Telehealth Platforms
- Neurology Coding and Billing Software
How Healthcare Providers Benefit from Expert Medical Billers in Neurology?
- Accurate Billing Process
- Reduced Claim Denials and Rejections
- Compliance with Regulations
- Improved Cash Flow
- Data Analysis and Reporting
- Patient Satisfaction
How Does Outsource Neurology Billing Help my Practice?
- Expertise in Neurology Medical Billing
- Reduced Administrative Burden
- Enhanced Patient Experience
- Compliance and Risk Management