For the independent oncology practice, the amount of work that must be done to keep up with the needs of patients and the ever-expanding regulatory processes and procedures can quickly become overwhelming. As soon as the staff has finally adapted to new technology and begun to use it to stay compliant and in control of the mounting masses of data, the requirements or the technology change again.
The answer for the overburdened oncologist may be to find a trusted management services organization to take the pressure off the practice’s medical staff. This partner organization should be able to provide all of the business and compliance tools necessary to allow the doctor and staff to focus on the reason they chose a career in medicine in the first place: to treat patients.
What Tools and Services Can a Management Services Organization Provide an Oncologist?
The practice of Oncology is difficult enough to master, without the additional burdens of complying with regulations, handling insurance companies, and the stresses of managing staffing and billing. Those who chose to enter this field probably did not expect they would also need to function as IT professionals, management executives, and financial experts in order to keep their practice running smoothly. Thankfully, a management services organization can provide the tools and services needed to keep an oncology practice running at peak efficiency without sacrificing the quality or quantity of patient care. Some of the services a reputable management services organization can offer include:
Medical Billing and Coding
Great practice management has to begin with effective billing and coding and no medical specialty makes this more challenging than oncology. The sheer number of billing codes that must be mastered to keep insurance companies accurately informed about the various procedures done and treatments given is a challenge in and of itself. Add to that the sensitivity and careful handling that must be offered to patients when asking for payment from them and it is easy to see why this aspect of managing an oncology practice, if not handled correctly, can be the downfall of an independent oncologist.
A good management services organization should be able to handle all of these tasks with efficiency, compassion, and accuracy. If coding and billing are not handled correctly and effectively, the practice may suffer from delayed or lost revenue.
Care Coordination Software
As a next generation software tool, Care Coordination software takes Electronic Medical Record systems (EMRs) to the next level by making it possible for health care to be synchronized across multiple providers, practices, and specialties. These software platforms have made it possible for doctors from across the street or across the globe to seamlessly integrate a patient’s care with one another. This improves patient care but not necessarily the daily lives of the oncologist and staff.
Management services organizations should offer the tools and training needed for everyone involved in an oncology patient’s care to be able to input and access the medical data associated with any patient. For best results, these tools should be cloud-based and fully customizable.
Financial Navigation Tools for Patients
Even with medical insurance, many oncology patients will end up with hefty bills. Many will not be able to pay them in a lump sum. A good management services organization should provide tools to help the patients and staff with accurate estimates of the costs of their care and a way to set up payments plans before treatment even begins.
Medication Management
The high cost of many of the medications used in an oncology practice makes it vital that strict guidelines be implemented to reduce waste through loss or expiration. The long list of drugs that are being used on a trial basis also requires the keeping of complete and accurate records to comply with the trial’s standards and prevent loss of reimbursement for the drugs used.
A good management service should be able to handle these tasks for the oncology practice with complete accuracy to prevent potentially substantial financial losses.
Administrative Practice Management
Many of the tasks that an independent oncology practice has to tackle have nothing to do with the practice of medicine. The doctor or staff are responsible for making sure everyone’s credentials stay up to date and that privileges at local hospitals are kept current.
The staff members themselves need to be managed too. Someone has to be responsible for finding and training new employees, letting go of personnel who are not pulling their weight, and keeping track of payroll, benefits, and other perks. All of this is just too much for any one person to handle or even think about, especially if that person also has to diagnose, console and treat patients on a daily basis.
It would be so much better for the doctor, the staff, and the patients if a management services organization handled all of the many administrative details required.
TRIARQ Handles the Business Details So Oncologists Can Focus On Patients
TRIARQ is a management services organization that specializes in helping independent doctors navigate the difficult task of running a medical practice in the digital age. While its tools and services could be helpful to any medical specialty, TRIARQ has developed an entire team to meet the unique needs of the independent Oncologist.
Take its billing services for instance. Every member of TRIARQ’s oncology billing team has a minimum of five years’ experience with coding and billing for oncology. They know the particular challenges oncology practices face and they have the experience and skills to handle them. The team leaders each have more than 20 years of experience in billing and coding for oncology practices. These talented individuals could handle the challenges even before technology made the process so much easier.
TRIARQ’s oncology tools also include their custom IntelliDose Interface. This interface has been designed to address the unique needs of an oncology practice. It can keep track of drug usage, provide the necessary notations and track and bill for waste. All of this can help to keep medication-related losses to a minimum.
To find out more about how the TRIARQ oncology management services organization can help an independent oncology practice thrive, contact us today. Dealing with patients in a kind and compassionate manner while delivering what may be very bad news is stressful enough, so let TRIARQ handle the rest.