Rarely has there been a more defining time for radiation oncologists than right now, when the survival of Radiation Oncology practices is squarely placed on the shoulders of the most efficient Radiation Oncology revenue cycle management processes. It’s survival of the fittest.
“The momentum toward moving away from fee-for-service and finding more efficient ways to reimburse providers with the emphasis on linking reimbursement to quality outcomes is unlikely to falter,” according to an online article in the June 11, 2012 edition of Astro. “For all these reasons, most analysts agree that delivery system changes are inevitable. The implementation of the ACA, in whatever its final form, will likely have a significant impact on radiation oncologists as providers of health care to cancer patients, as employers who provide insurance to their employees and as consumers of health care.”
In June 2012, the MGMA-ACMPE released the results of a questionnaire that ranked members’ most pressing practice management challenges. No. 2 was: Preparing for reimbursement models that place a greater share of financial risk on the practice.
Within the next five years, Radiation Oncologists will be adopting this shared-risk model for revenue reimbursement (vs. fee for service) with the emergence of population health management through Accountable Care Organizations (ACO) that coordinate care and meet performance standards of care for Medicare patients.
As a result of ACOs and its correlating population health management and shared risk models, Radiation Oncology revenue cycle management models need to change too. Proper Radiation Oncology medical coding and billing procedures are vital to a practice’s strong pulse. It’s an exacting science that requires in-depth, insider industry expertise of the myriad of new Radiation Oncology coding, billing and compliance regulations that only an independent third party Diagnostic Radiology revenue cycle management specialist with decades of expertise can provide to ensure nothing falls through the cracks and revenues are optimized.
revMD.com is the results-proven alternative for healthcare revenue cycle management, with a niche specialization in medical coding and billing that generates unprecedented results and builds profitable medical practices. Leveraging a history of industry wide success spanning 25 years, revMD.com partners with medical practices in Arizona and throughout the U.S. to optimize revenue for hospital based and practice based physicians.