FACT: Anesthesiologist salaries in America have exploded over the past decade, yet, many doctors don’t enjoy their full compensation because their billing providers aren’t collecting all the money that’s owed to them.
If you feel that your take-home pay has not increased at all over the last few years, you may be experiencing what thousands of other physicians have already realized—anesthesia billing in 2019 is complicated and your current company may not be doing everything it can to maximize your take-home. Here is what you need to look for to find the best anesthesia billing company.
Your current billing company could be the main factor impacting your take-home salary.
The best anesthesia billing company will ensure they do everything they can to maximize your revenue.
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Why Anesthesia Billing Companies Underpay Physicians
In an ideal world, getting paid in full for the anesthesiology services you perform should be simple:
- You complete the work.
- Your billing company uses your notes to code and submit claims.
- Payers pay, in full, based on your contracted rate.
- Your billing company reconciles all accounts receivable by month’s end.
Now, you know this doesn’t happen in reality. Collecting the first eighty percent of claims is easy, but you really have to work to get the remaining twenty percent – an amount that most billing companies refuse to reconcile despite promising to do so when you hired them.
Billing partners often break their collection promises because fighting for that last twenty percent takes time, money, and reconciliation experience—resources that the average billing company doesn’t have, but the best anesthesia billing company does.
Accepting underpayments doesn’t have to become the norm.
However, there are a few anesthesia billing companies that hold decades of experience and own exclusive technology to ensure your claims get paid in full.
Fusion Anesthesia, for example, uses automated reconciliation software that looks at every line item of every claim. Using this method has been able to generate 5-15% more revenue for anesthesiologists and CRNAs compared to other billing services.
Let’s have a quick look at how Fusion Anesthesia streamlines billing processes and how their expert coders tackle complicated anesthesiology billing claims.
Proper Reconciliation to Drive Revenue
Fusion Anesthesia follows a six-step reconciliation process to make sure their clients get paid everything they’re owed:
- Assemble and organize written or electronic notes from anesthesiologists after services are performed. Reconciling the schedule with the billing records to ensure complete charge capture.
- Maximize claims by coding every line item using the medical record and notes as reference.
- Submit clean claims to payors for payment.
- Use claims tracking technology to indicate when payments arrive and ensure it’s within agreed upon time frames.
- Apply database technology and use tracking measures to reconcile each line item paid with the contracted billing rates and flag any discrepancies.
- Resubmit and review unpaid and underpaid claims as many times as necessary until payors pay in full.
Applying this exclusive technology to billing processes and reconciliation to every line item on every claim is the key to getting fully paid. And as far as we know, Fusion Anesthesia is the ONLY anesthesia billing company out there that that completes these comparisons as part of their standard revenue cycle management offerings.
Why Choose Fusion Anesthesia as Your Anesthesia Billing Company
As mentioned earlier, Fusion Anesthesia pairs its proprietary software with a database that has all the information on their clients’ contracted rates so every line item of every claim can be compared during reconciliation.
If the payor does not submit full payment, Fusion Anesthesia’s billing technology automatically kicks the claim back, sometimes multiple times, until every penny owed is collected.
Most payors, on average, underpay compared to contracted amounts.
Fusion Anesthesia couples its proprietary technology with industry-standard revenue management approaches to maintain efficient accounts payable collections.
- Expert Coding: Our certified claim coders (AAPC) have over forty years of experience evaluating complex anesthesiology government billing regulations. They know exactly how to assess new anesthesia billing procedures and ensure accurate coding on every single claim.
- Quality Data Control: Claims are reviewed five times— twice by our team, once via an automated system, and then two more times by our clearinghouse—to guarantee clean submissions that encourage proper payment.
- Extensive Follow-Up: Fusion Anesthesia’s comprehensive follow-up process differs from other anesthesia billing companies. Pursuing payables is part of our standard process, while other companies only ever plan to collect the easy 80%.
Not every anesthesia billing company can deliver services like Fusion Anesthesia does—even though they may promise to do so. However, it’s easy to determine if switching to the best anesthesia billing company could increase your revenue by 5-15%.
Sign up for a no-obligation analysis, to find out how our innovative billing process can help your practice.