Cardiologists have a tough time designing strategies for revenue cycle management after patient care. Outsourcing billing can help them save losses in revenue.

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Revenue Cycle Strategies for Cardiology Billing
In the last few years cardiology practices have seen a surge in their administrative and
overhead costs which have led to a decrease cash flow. The demand for cardiology
services is linked to demographics; this impacts the rate of cardiovascular diseases. In
many cases the profitability of a practice depends on the reputation of the doctor. In
such cases it would make sense to get a hang of how to leverage the RCM cycle to
increase profits, for the providers.
Industry Fact File
The aging population and other increasing ailments like obesity have led to patient
influx in the cardiology sector. Demanding health conditions of seniors and the
increasing deductibles of insurance policies is all set to contribute towards the growth
of the cardiology healthcare industry. It has been steadily growing in the last five years
and is currently pitched at about $39 billion (revenue) with the growth rate estimated
to be just above two percent.
Billing and RCM in Cardiology
Revenue cycle management (RCM) strategies form an integral part in the future
positioning of the practices. In today’s volatile environment and cut throat competition
a slight oversight in the billing practices can effect a severe blow on the success path of
providers.
The revenue cycle is time bound; hence, it is essential that proper coding and
procedures are carried out for the quick receipts of payments. Organizations struggle in
collecting their collectibles as they want to allocate minimal resources and ensure
accurate coding and procedures are followed at the same time. To put it simply manual
processes are a stumbling block to the success of an efficiently fruitful RCM cycle.
Automating the RCM Process
Practices should turn to automation for optimal results. This will help in improving the
process, gain greater accuracy and efficiency. An automated procedure also helps in

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info@medicalbillers.com
www.medicalbillersandcoders.com
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streamlining the billing and arresting the bleeding bottom line. Once a proper
foundation for automation is laid, healthcare organizations can then aim for designing
processes that can support same day billing practices.
Another vital aspect to consider is the introduction of ICD-10. Cardiologists should
devise strategies that will support the accuracy of documentation and coding as
specified under ICD-10. For example, training the staff to use EHR.
Experts conduct an analysis to verify that all the proper steps of the billing process are
met before designing strategies. They look at the big picture for a complete assessment
of the revenue cycle operations. This guides the providers for identifying areas of
improvement and detecting different ways to recover revenue losses.
For complete and augmented billing services contact MedicalBillersandCoders.com.
The experts at MBC possess decades of experience and a strong knowledgebase of
healthcare, which will help in eradicating the stumbling blocks and streamline your
revenue cycle.