Improving Cashflow with best OBGYN Medical Billing Practices

Obstetrics and gynecology (OBGYN) practices face unique challenges in medical billing and need to adopt best practices to improve their cash flow. From coding and insurance reimbursement to collections and patient billing, the right approach can make all the difference in ensuring that OBGYN practices receive maximum reimbursement for their services.

OBGYN medical billing has never had an easy billing method. One billing method includes several patient visits as a single insurance claim because of the prolonged and ongoing nature of the treatment cycle. Recent reforms in the United States have only resulted in making things more complicated because people are now liable for a larger portion of healthcare expenses.

OBGYN Medical Billing Best Practices to Improve Cashflow

Coding and Insurance Reimbursement

One of the most critical aspects of OB/GYN medical billing is accurate coding. OBGYN practices need to ensure that all services provided are properly coded to maximize insurance reimbursement. This includes the use of Current Procedural Terminology (CPT) codes for all procedures, diagnosis-related groups (DRGs) for inpatient care, and International Classification of Diseases (ICD) codes for diagnoses. Additionally, OBGYN practices need to ensure that all codes are up-to-date and compliant with the latest regulations.

Collections

Collections play a significant role in the cash flow of OBGYN practices. One of the best ways to improve collections is to implement an effective follow-up process for insurance and patient payments. This includes regular follow-up calls, billing statements, and payment plans for patients who are unable to pay their bills in full. OBGYN practices can also benefit from working with a professional medical billing company that can assist with collections and insurance reimbursement.

Patient Billing

Patient billing is an essential aspect of OBGYN medical billing, and it is critical that patients understand their financial responsibility and receive clear and accurate bills. OBGYN practices should educate patients on their insurance coverage, deductibles, and co-payments, and ensure that their billing statements are easy to understand. Patients should also be provided with payment options, including online payments, credit card payments, and installment plans.

Improving cash flow in OBGYN medical billing requires a combination of accurate coding, effective collections, and clear patient billing. OBGYN practices can benefit from working with a professional medical billing company that can assist with all aspects of medical billing and ensure maximum insurance reimbursement. By following these best practices, OBGYN practices can improve their cash flow and focus on providing patients with the highest quality of care.

How to Avoid OBGYN Medical Billing Denials? 

To avoid OBGYN billing denials, here are some best practices:

1. Verify insurance coverage: In order to provide any services, it is imperative to verify the patient's insurance coverage as well as the coverage of the requested procedures.

2. Use the correct codes: OBGYN medical billing requires using specific codes for procedures and services. Using incorrect codes can result in denials, so it's important to know the most up-to-date codes and double-check your work.

3. Follow coding guidelines: The guidelines for coding medical procedures can be complex, so it's essential to stay current on any changes. This can include adhering to specific coding rules and requirements for modifier usage.

4. Submit complete and accurate claims: Submitting claims missing information or errors can result in denials. It's important to carefully review each claim before submitting it and to double-check for accuracy.

5. Stay current on policies and regulations: Healthcare policies and regulations are constantly changing, so it's important to stay informed about any updates and to be proactive about making changes to your billing processes.

6. Monitor denials: Regularly reviewing denied claims can help identify areas for improvement in your billing processes and help you prevent future denials.

7. Partner with a medical billing specialist: A medical billing specialist can assist with the accuracy and efficiency of claim processing, thereby reducing the risk of denials.

By following these best practices, you can reduce the risk of OBGYN medical billing denials and ensure that you receive proper reimbursement for your services.

How to Bill C-Section OBGYN Delivery Procedure?

Billing for a C-section OBGYN delivery procedure involves several steps:

Preauthorization: Confirm with the patient's insurance provider that the procedure is covered and obtain preauthorization if required.

Coding: Assign the correct Current Procedural Terminology (CPT) codes for the procedure. The primary code for a C-section delivery is 59514 (Cesarean delivery, including the closure of a classical uterine incision). There may be additional codes required for other procedures depending on the circumstances of the delivery.

Claim submission: Submit a claim to the insurance provider, including the patient's demographic information, the CPT codes, and any necessary supporting documentation. The documentation should include the reason for the C-section, the gestational age of the fetus, and any associated complications.

Monitoring and follow-up: Regularly monitor the status of the claim and follow up with the insurance provider if there are any delays or denials.

It's important to note that the specific requirements for billing a C-section delivery may vary based on the patient's insurance provider and local regulations. It's best to consult with a medical billing specialist to ensure that the procedure is billed correctly and that you receive proper reimbursement.

Improve Your Revenue Cycle Management by Using the Best NEO MD Strategies

Your business will expand with the help of our skilled personnel in medical billing and coding. In order to maximize remuneration, NEO MD personnel continuously follow all OBGYN medical billing rules. Real-time claim coding is faster, more accurate, and error-free, as well as an earlier verification of claim eligibility that reduces the likelihood of claim denial or refusal.

Major revenue cycle management companies in the US oversee a large number of newly growing medical billing companies. The likelihood that healthcare practitioners will recognize a medical billing company is low.

Our OB/GYN Billing services are beneficial to all practices, no matter how big or little. Our services help reduce overhead costs brought on by billing issues. When necessary, we update data, improve procedures, fix mistakes, and quickly identify and resolve problems. We watch for regulatory adjustments that might increase operational productivity and cash flow. Furthermore, solid CMS concepts are regularly updated in our revenue cycle management services.

What Makes Us the Best Medical Billing Company?

NEO MD stood best among competitors’ Revenue Cycle Management Companies due to the following cores;

• Our experts work hard to reduce your front-end denials by 20%.

• Claim first level acceptance ratio; 95-97%

• We have consistently increased the collection rate for our clients because of the faster increase in the accuracy of fees and collection.

• Refunds adjustment and Payment posting to improve the cash flow.

• Offer Services that are easily scalable at all times.

• Offer Provider & Staff Productivity Analysis

• Use the latest technology and tools.

• Offering state-of-the-art medical billing services for small practices, medium-sized, and large ones.

• Out of Network Negotiations.

• Offer internal Medical Billing audits to uncover loopholes

• Improve RCM system efficiency with a robust credentialing team. 

• Provide fortnightly financial and practice overviews 

• Deliver customized Revenue Cycle Management Services to unearth operation shortcomings.

• Provide OB/GYN Billing and collection services that are of high quality and error-free.

Let's Schedule a Demo to learn more about how we can improve your medical practice management. Get us at! (info@neomdinc.com) or (929) 502-3636).