Bingham Farms, MI – AltuMED, a provider of specialized medical revenue cycle management (RCM), announced today that its cardiology billing service division has consistently achieved a 98% first-pass claim acceptance rate (FPAR) for its clients throughout 2023. This performance comes at a critical time when the average initial denial rate for the cardiology claims industry-wide is reported to be as high as 12%.
This high rate of clean claims is attributed to AltuMED’s dual approach, which combines U.S.-based, certified billing experts with a proprietary AI-powered auditing platform. The company specializes in the complex coding requirements of cardiology, including procedures like cardiac catheterizations, stent placements, and echocardiograms, which are frequent sources of errors and denials for practices using generalist billers.
“Cardiology is one of the most technically complex fields in medicine, and that complexity is directly reflected in its billing and coding requirements,” said a spokesperson for AltuMED. “A 98% FPAR isn’t just a metric; it translates directly into faster reimbursements, reduced administrative burden, and significant revenue protection for cardiologists. While practices spend 15% more time reworking denials this year, our clients are experiencing streamlined cash flow.”
The company’s process involves rigorous manual inspection and AI-backed processing to ensure error-free coding and diligent documentation. Their team of CPMA and CPC credentialed experts is trained to handle intricate ICD-10 and CPT codes specific to diseases and interventions of the circulatory system.
Beyond initial submission, AltuMED’s service includes proactive denial management and insistent follow-up, ensuring that the rare denials are appealed promptly and effectively. This comprehensive approach ensures rapid accounts receivable turnaround for practices.
The company also emphasizes full compliance with HIPAA protocols and federal regulations, conducting repetitive audits and using advanced encryption for data security. This commitment to compliance and security allows cardiology practices to delegate their RCM operations confidently.
With a focus on scalability and 24/7 availability, AltuMED’s services are designed to support cardiology practices in navigating ongoing Medicare and Medicaid policy changes, ensuring their financial health remains secure
