Is Your Orthopedic Billing Leaving Millions on the Table?

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Is Your Orthopedic Billing Leaving Millions on
the Table?

• As an orthopedic specialist, are you sure your
  billing practices aren't leaving millions on the
  table? The fear of incorrect orthopedic coding,
  facing payer audits, and managing complex coding
  procedures can be overwhelming.
• Yet, underestimating medical decision-making or
  missing out on code specificity can drastically
  impact your revenue. It is time to ensure you are
  collecting every dollar you deserve while
  maintaining compliance.
• Why You Might Be Leaving Millions on the Table
  with Inefficient Orthopedic Billing?
• Underestimating Medical Decision-Making Medical
  Decision-Making, when underestimated, frequently
  results in lower Evaluation and Management (E/M)
  coding and decreased revenue.
• Inaccurate Documentation Missing or incomplete
  patient and procedure details result in
  underbilling or claim denials.
• High Claim Denial Rates Inefficient billing
  practices cause revenue loss from denied claims.
• Underutilization of Technology Not leveraging
  Electronic Health Records (EHRs) and coding
  assistants can increase errors and reduce
  accuracy.
• Delayed Collections Long A/R days impact cash
  flow, necessitating efficient billing processes.

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Is Your Orthopedic Billing Leaving Millions on
the Table?

• Neglecting Social Determinants of Health
  (SDOH) Failing to document social determinants
  of health can lead to missed opportunities for
  higher E/M levels and increased reimbursements.
• 5 Proven Strategies to Optimize Orthopedic
  Billing and Maximize Revenue
• 1 Enhance Your Net Collection Ratio
• Improving your net collection ratio is essential
  for ensuring you collect all legitimate
  reimbursements. Many practices mistakenly believe
  they perform well in this area but often
  misunderstand contractual adjustments.
• Aim for a net collection ratio greater than 95,
  with top practices achieving up to 99. This can
  significantly boost your cash flow and
  bottom-line results.

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Is Your Orthopedic Billing Leaving Millions on
the Table?
2 Expedite Payment Collections Minimize your
days in accounts receivable (A/R) to improve cash
flow. Industry benchmarks suggest keeping your
A/R days under 45. Faster collections lead to a
healthier financial outlook for your
practice. 3 Reduce Insurance Claim
Denials Lowering your denial rate is crucial for
maximizing insurance payments. Denials often
result from inaccurate coding or submission
errors. Aim for a denial rate between 5 and 10
to ensure quicker, more accurate payments. 4
Increase First Pass Claim Acceptance Improving
your rejection rate, which measures the
percentage of claims rejected before processing,
is vital. The industry benchmark for rejection
rate is 5 or less. Reducing rejections ensures
timely, accurate claim processing and
paymenteasing the administrative burden and
enhancing cash flow. 5 Outsourcing Orthopedic
Billing The Best Strategic Move
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Is Your Orthopedic Billing Leaving Millions on
the Table?

• Orthopedic specialists face unique challenges
  with complex coding guidelines and tight
  schedules. Outsourcing billing services to
  reputed providers like Medical Billers and Coders
  (MBC) can be a game-changer.
• Heres how MBC can Transform Your Billing
  Orthopedic Billing
• Ensure Compliance and Accuracy By outsourcing to
  MBC, your practice remains current with
  ever-changing coding regulations, significantly
  reducing billing errors.
• Utilize Cutting-Edge Technology and
  Automation MBC leverages advanced technology to
  streamline and optimize billing processes,
  enhancing accuracy and efficiency.
• Enhance Operational Efficiency Focus on
  delivering top-notch patient care while MBC's
  experts manage your administrative and billing
  tasks, boosting overall productivity.
• Drive Revenue Growth Experience a 10-15
  increase in revenue through MBC's refined billing
  practices and reduction in claim denials,
  ensuring you capture every dollar you earn.
• Take control of your orthopedic billing today and
  ensure you are not leaving millions on the
  table. MBC can help in analyzing key performance
  indicators and optimizing your revenue
  collection.

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Is Your Orthopedic Billing Leaving Millions on
the Table?
Contact Medical Billers and Coders today to
transform your orthopedic billing and secure the
financial health of your practice. FAQs Q
What are the key CPT codes used in orthopedic
billing?  A Common CPT codes include 29877 for
knee arthroscopy, 27130 for total hip
arthroplasty, and 23410 for rotator cuff repair.
Understanding these codes is crucial for accurate
billing. Q How can orthopedic practices ensure
compliance with coding guidelines?  A Staying
informed about updates from the Centers for
Medicare Medicaid Services (CMS) and the
American Academy of Orthopaedic Surgeons (AAOS)
is essential. Regular training sessions and
utilizing advanced coding software can help
maintain compliance. Q What role do modifiers
play in orthopedic billing? 
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Is Your Orthopedic Billing Leaving Millions on
the Table?
A Modifiers such as -59 (distinct procedural
service) and -LT/-RT (left/right side) provide
additional information to procedure
codesensuring accurate billing and
reimbursement. Proper use of these modifiers can
prevent claim denials. Q How can technology
improve orthopedic billing accuracy?  A
Integrating Electronic Health Record (EHR)
systems and coding assistants can enhance
documentation accuracy, reduce errors, and
streamline billing processes, ultimately
improving reimbursement rates.