Revenue Cycle Management for Telemedicine
It is time to rethink revenue cycle management for telemedicine.
When billing insurers for professional services, most physicians allow the hospital they serve to handle the billing through reassigned benefits (billing rights), or they manage it themselves. However, when a hospital contracts with a telemedicine company with geographically-distributed physicians, it is best for the hospital and the physician for the telemedicine provider to manage the process.
Hospitals traditionally use telemedicine as a way to improve specialty care available to patients. But things can get complicated when it comes to billing, compliance, and liability. Take, for example, the reassignment of billing rights for a physician. A hospital billing for the services of a telemedicine provider knows that they must bill a patient’s insurer for a particular service. However, what they might not know is that to bill Medicare, the place of service is considered the home state of the physician, not that of the hospital.
Hospitals implementing telemedicine programs should consider forgoing the reassignment of billing rights. Partnering with an experienced telemedicine partner allows hospitals to avoid circumstances that lead to financial risk and disruption, including:
- Increased Claims Scrutiny
- Painful Audits
- Reduced Profits Due to Avoidable Errors
Anton Arbatov MHA, FACHE, Vice President, Revenue Cycle Management and Compliance for SOC Telemed, recently appeared in Healthcare Business Today with a compelling position asking hospitals to reassess how they handle billing when it comes to telemedicine. Read his full case for third-party management by telemedicine companies here.
Want to learn more about telemedicine reimbursement? We’ll be hosting a panel, Telehealth Reimbursement – Beyond Policy and Theory, at the Telemed IQ Summit 2019 in Nashville, TN, November 6-8. Join us!