Medical Billing

Podiatry Medical Billing: A Comprehensive Overview

Podiatry is the branch of medicine dealing with the diseases of the foot, ankle, and lower extremities. Like many other departments in the hospital, the podiatry department has a specific billing process. Patients coming into the department are charged according to this billing system, and the hospital also maintains a separate coding and billing system for such cases. Today, we are going to take a look at some of the key features of podiatry medical billing. We will discuss what it is, how it works, and how this service can be outsourced to third-party providers.

What is Podiatry Medical Billing?

Since podiatry is itself a specific field within medicine and has specialized dedicated departments within hospitals, it also has a specific medical billing process. As might be expected, this billing has a specific coding and modifier system in place to assign and list specific services provided to the patients.

Like all other billing processes, the codes used in podiatry billing are specific to the treatment provided to the patient. The department maintains complete documentation for the whole treatment period, and the charges are then decided based on this documentation.

Importance of Podiatry Medical Billing

The whole process of podiatry medical billing is essential to provide adequate treatment to the patient and adequate compensation to the doctor. Without specific documents and codes, the hospital might inaccurately list some of the diagnosis and treatment options provided to the patient. This misrepresentation of the treatment options can become a problem for the doctor as well as the hospital.

The hospital might not get adequate revenue from the patient’s insurance company. The hospital can also get in trouble for not complying with coding and billing guidelines and can even face legal charges. In addition, the doctors might not get paid enough for providing the services to the patients, which in turn lowers morale. The professional history and experience of the doctor might also get disturbed, which in turn can lead to problems in physician credentialing.

Podiatric Medical Billing – The Perfect Process

A good and completed podiatry medical billing process has some important characteristics that make it error-free and complete. Some of these characteristics that should be present in a good podiatry medical billing process are as follows.

1.    Proper documentation

Proper and complete documentation is an important part of any medical billing process, and it also plays a crucial role in podiatry billing services. Any errors in this documentation lead to missed insurance reimbursements, which can affect the hospital and the doctors alike. Some of the most important parts of proper documentation for podiatry medical billing are:

  • Patient information, including their name, address, insurance IDs
  • Podiatrist information
  • Proper codes and modifiers for the services provided to the patients.

2.    Up-to-date billing systems

The medical billing process is very dynamic and many changes in it are seen daily. The codes and modifiers are constantly being modified, as is the software associated with the billing process. Thus, using the most recent billing process is vital to securing the billing and ensuring adequate reimbursements. Outdated systems use old billing codes that can be denied by insurance companies and can result in issues with proper claim reimbursements.

3.    Proper coding

As we have already mentioned, the podiatry medical billing system uses specific codes for the services provided to the patients. Listing proper codes in the documents is essential for the proper preparation of billing documents. It is the code itself that directs the billing process for the patient as well as the insurance company. Thus extra care should be put into dealing with this process in the best way possible.

Timely claim submission

Insurance companies have a period during which the claim for the reimbursement must be submitted. The exact period differs with each company and is mentioned in the terms and conditions of the concerned company. To get the reimbursement, the hospital must submit the claim to the insurance company.

Claims submitted after the decided deadline can be denied by the insurance company, and the hospital might not get any reimbursement whatsoever. Another problem with claims denied due to late submission is not debatable, which means that the insurance company will not listen to any appeals for reimbursement.

Outsource Podiatry Medical Billing

Outsource Podiatry Medical Billing
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Due to the complex nature of the billing process, there are specific companies dedicated to handling the billing for the hospital. These third-party companies have experts who deal with the billing process and completely handle the process from start to finish. Taking the services of such companies can be very beneficial for the hospital in the long run as they don’t have to worry about any problems associated with the process. The hospital can just focus on providing adequate care to the patients.

Here are some of the reasons why outsourcing the podiatry medical billing process can be beneficial for the hospital.

1.    Expert handling of documentation and coding

Medical billing companies can expertly deal with all sorts of medical billing documentation and can also handle the coding system for treatments. The experts in these companies are well acquainted with the billing process and also have experience with the billing software. Thus, they can manage all the complexities associated with the billing process.

2.    Saving of time and resources

By giving the responsibility of the billing process to third-party companies, the hospital can save a lot of time and resources. The administrative burden on the hospital can be drastically reduced, and they can focus on their core activities – giving adequate care to the patients.

3.    Cost-effective

Third-party companies will handle the billing process so that there are minimum errors in the process and all claims are adequately made.  This reduces the chances of claim denials and can allow faster reimbursements to the hospital. Thus, outsourcing podiatry medical billing services can be very cost-effective.

Conclusion

The podiatry medical billing process is a complicated procedure that requires adequate care and attention. Like all other billing departments in a hospital, the podiatry billing department also deals with specific treatments provided to the patients which are especially related to their feet and ankles. As much as the process is complex, it is also an essential one that allows proper reimbursements to the hospitals and doctors. Thus, it must be done with appropriate care so that the patients can continue to get the best possible treatment.