Every year, the number of patients requiring pain relief therapy is growing. At the same time, pressure from insurance companies is increasing. Experts note that about 30% of pain management claims are rejected on first submission due to coding inaccuracies or insufficient documentation. That is why more and more practices are turning to specialized pain management billing services.
But with so many companies to choose from, how do you know which one is best? We conducted research and presented you with the top 10 companies that can help you.
1. Swift Medical Billing
Swift Medical Billing is a modern, technology-driven pain management billing company that specializes in automated coding, denial prevention, and compliance analytics. The company combines transparency, fast communication, and highly specialized expertise to help clinics maximize their collections.
Swift Medical Solutions offers comprehensive revenue cycle management – from accurate coding and fast claims submission to denial prevention, accounts receivable recovery, and accreditation. Swift’s team of experienced professionals monitors changes in the American Medical Association (AMA). This allows them to submit claims with the highest accuracy and significantly reduce denials.
Key benefits of Swift Medical Billing:
- Fast claim processing. The company guarantees that 98% of claims will be processed within 14 days, significantly improving cash flow for clinics.
- Reduced denials. Within a few months of working with Swift, the denial rate drops to less than 5%.
- Specialized expertise in pain management. Deep understanding of complex procedures.
- Personalized approach. Each client is assigned a dedicated team that understands their practice’s unique needs.
Swift Medical Billing works with more than 4,500 providers, supports their software, and carefully studies the patient visit cycle for each client. This allows resources to be allocated so that all claims are submitted promptly, ensuring timely payments.
Among the key services related to pain management billing, Swift offers:
- Complete revenue cycle management
- Laboratory billing services
- Specialized coding for pain management procedures
- Provider accreditation and registration
2. MediBillMD
Although MediBillMD was founded recently, this company has already proven itself. What makes it special? A practical approach to solving client problems. MediBillMD offers competitive pricing and a modern perspective on the industry.
The key strength of this pain management billing company is its experienced and certified team of billers and coders. The company guarantees growth and success by providing exceptional support in all 50 states. MediBillMD has impressive figures to back up its claims:
- 95% clean claim rate (clean claim rate)
- 93% first-time pass rate
- 10-15% increase in practice revenue
- Reduction of accounts receivable to less than 30 days
3. Transcure
Transcure is a comprehensive pain management billing company with decades of experience in this field. The company can confidently handle all complex procedures. Their expert coding, compliance, and fast reimbursement significantly improve clinics’ cash flow.
Transcure’s billing experts constantly monitor the latest CMS rules and specific payer requirements. This reduces the likelihood of denials, audits, or penalties. The company uses a transparent billing system, informs patients about their financial obligations, and answers all questions to ensure a smooth process.
The company reports a net claim rate of over 95% and accelerated processing cycles. Practices seeking reliable support in pain management billing should consider Transcure for its proven results.
4. Physicians Revenue Group (PRG)
Physicians Revenue Group provides valuable medical billing services for pain management, helping practices achieve exceptional claim processing. No matter what challenges your practice faces, PRG handles billing tasks with confidence.
PRG offers the following services:
- Insurance verification. PRG’s billing experts can help verify insurance eligibility by checking patient information and documentation.
- Record auditing. The company checks records for discrepancies, makes corrections, and reduces the likelihood of claim denials.
- Deny management. An experienced team specializes in analyzing and managing denials, helping practices address them.
The goal is to determine the exact reason for the denial and address the root causes. This is done by gathering complexities and providing the correct information for resubmission and acceptance of the claim.
5. Invensis
Invensis is a leading provider with over 20 years of experience, offering comprehensive pain management billing services to medical practices worldwide. The company’s billing and coding experts specialize in the complexities of pain management billing, including the proper use of CPT codes, modifiers, and payer-specific guidelines to ensure timely and accurate claims submission.
The company utilizes advanced pain management billing software and proven methodologies to optimize billing, reduce claim denials, and accelerate reimbursement cycles. By partnering with Invensis, medical practices achieve 97% claim accuracy and a 75% reduction in claim denials.
Invensis optimizes every stage of the billing process, from patient registration and eligibility verification to claims submission and payment processing. The company’s billing experts identify inaccuracies and potential issues and apply best practices.
6. Integrity Practice Solutions
Integrity Practice Solutions is one of the most advanced companies in the medical billing industry. Founded in 2011, the company has helped hundreds of practices increase revenue by optimizing collections.
More than 300 employees serve hundreds of providers across the country, but mainly in New York, New Jersey, Florida, Michigan, and Texas. The biggest difference is the personal approach, and the founders regularly make personal visits to each of their providers.
IPS has deep experience in all aspects of pain management billing, including:
- Epidural injections and nerve blocks
- Urine drug tests
- In-network, out-of-network, and hybrid practices
- Auto injury (PIP/No-Fault) and workers’ compensation billing, arbitration, and LOP
The rules governing incident-to billing are very complex, and offices need to be careful about which insurance companies allow it. Because IPS works with many different offices in many states, they are familiar with the issues practices face in the billing process and work proactively.
7. Billed Right
Two business partners created a billing right to improve billing operations. Today, it is a trusted name in medical billing with over 500 employees and a special focus on helping pain management practices.
With extensive experience and countless success stories, Billed Right maintains its reputation as one of the best pain management billing companies by offering customized RCM solutions to its clients. These solutions include prior authorization management, appropriate coding, appeals for denied claims, and revenue recovery.
Billed Right has a successful track record, including $200 million in billing in 2020. With an error rate of less than 5%, the company promises to reduce A/R within 24 days and increase your collections by 94%. In short, you can trust Billed Right with your complex problems.
8. iRCM
With over a decade of experience, iRCM is another name worth considering. Based in New York, this company offers comprehensive billing solutions to a range of pain management practices, including interventional, orthopedic, neuropathic, oncology, psychological, and pediatric.
iRCM claims to be your ally in effective billing, managing complex processes, and ensuring smooth financial operations. This leading pain management billing company solves common problems, including coding accuracy, comprehensive documentation, and claim denials.
What really sets iRCM apart from the rest? HIPAA-compliant solutions, cutting-edge technology, and a team of highly skilled AAPC-certified coders.
9. MedCare MSO
MedCare MSO is another top choice for outsourcing, with a special focus on your growth. With over a decade of experience, this company has a nationwide presence and provides billing software to nearly a million physicians.
MedCare MSO is well known for providing comprehensive billing solutions to pain management practices. The best part?
This pain management billing company handles everything from prior authorizations and coding to claims submission and denial resolution with exceptional accuracy. So, are you looking for a way to resolve your claims? Choose MedCare MSO to reduce your accounts receivable by 10% and increase your revenue by 30%.
The company handles all the complexities of pain management billing, allowing physicians to focus on what they do best – treating patients.
10. Physicians Group Management (PGM)
Looking for a pain management billing company that offers real-time information about your business? Physicians Group Management (PGM) is your answer! Founded in 1981, PGM is known for its comprehensive and customized solutions for medical billing and practice management.
With over four decades of experience, the company covers more than 30 specialties, including anesthesiology and pain management. The PGM team skillfully handles the unique challenges of pain management, such as:
- Timely documentation
- Application of complex modifiers
- Specific coding requirements
In short, PGM helps practices avoid overpayment and underpayment errors. The best part is that the company provides valuable insights into your practice’s financial health and operations through advanced practice management software.
How to Choose the Right Pain Management Billing Company
Choosing the right billing partner is a critical decision that can significantly impact your practice’s financial health. Here are the key factors to consider:
- Specialized expertise in pain management. Ensure the company has deep experience specifically in pain management billing. This specialty requires knowledge of complex CPT codes for injections, stimulators, radiofrequency ablation, and other interventional procedures.
- Knowledge of regulatory requirements. The billing company must constantly monitor the latest CPT/ICD updates and CMS rules. Ensure they are monitoring CMS updates, including new HCPCS G-codes, to avoid compliance issues.
- Technology and accuracy. Prefer companies that use advanced tools to reduce errors. Automation helps identify errors before submissions and minimizes denials.
- Transparency and communication. Look for a company that provides regular performance reports, detailed analytics, and transparent pricing models.
After careful analysis of all options, it is clear that Swift Medical Billing is the optimal partner for pain management practices. The company combines technological innovation with personalized service, ensuring 98% of claims are processed within 14 days and reducing denials to less than 5%.
Swift doesn’t just process claims – they become a strategic partner in the growth of your practice. Their specialized expertise in pain management billing, cutting-edge analytics tools, and transparent communication ensures that you can focus on caring for your patients while they maximize your reimbursements.
Don’t let billing complexities interfere with your ability to provide exceptional patient care. Contact Swift Medical Billing today for a free consultation and learn how their specialized services can transform your practice’s financial performance. With the right billing partner, you can increase revenue by 10-15%, reduce denials by more than 80%, and finally achieve the financial stability your practice deserves.
