Outsource and Grow Your Practice's Revenue
If you handle your health care practice and medical billing on your own there's a good chance that you might be losing revenue in an effort to balance both. Medical billing ultimately should be handled by specialized professionals who can concentrate specifically on billing.
Implement Strategies To Collect On Outstanding Patient Balances
Reforms are continuing to be altered in the healthcare industry, and are affecting practitioners, insurance providers and patients. Deductibles are increasing and patients are becoming more involved and active regarding their insurance plans and payments which can be overwhelming for healthcare practitioners to collect co-pays and balances in a timely fashion.
Orthopedic Billing & Coding-Sure Road Towards Profit
As obvious as it may seem, it often goes unchecked, but verification of patient information is an imperative step in the billing process. Double-check the spelling of patient names, their date of birth, as well as other details that are often easy to overlook or misspell but which can result in filing errors leading to denials of insurance claims later. Have your billing staff go over patient forms that so as to make sure the information received matches with what you process on your claim.
Outsourcing Medical Billing Is An Intelligent Decision
Have you been debating whether you should outsource your medical billing services to an outside service provider or if you should do it in-house with medical billing software? As shown by a recent RCM survey by Black Book, an increasing number of physicians and practice groups are viewing outsourcing medical billing services as one of the most important decisions they have made which greatly benefit their clinical and financial outcomes.
What You Should Know About President Trump's Executive Order
When President Donald Trump signed an executive order against the Affordable Care Act (ACA) implemented by former President Obama, the purpose of the executive order was to minimize the economic and regulatory burdens of the ACA by repealing it and coming up with a replacement plan. Following are four things you should know about the executive order before President Trump's replacement plan takes place.
Medical Billing Claim Denial vs. Claim Rejection
Two of the biggest obstacles affecting healthcare reimbursements are insurance claim denials and insurance claim rejections. In the billing world the terms "claim rejection" and "claim denial" are often used interchangeably. Not having a concise understanding of these two obstacles can cause a significant, negative impact on your practice's overall revenue cycle. Essential aspects for a timely cash flow include proper education and management of accounts receivable.
The Importance of Medical Billing Training and Certification
Medical billing professionals are a necessity and play a critical role in healthcare. Their work is extremely detail-oriented, complex, and directly affects the financial success of healthcare practices. The demand on healthcare providers has been increasing and will continue to do so. Ambiguity among payers can make claims processing a frustrating process, and that is why many practices are enlisting the help of highly-trained, certified medical billing professionals to ensure efficiency of their revenue cycle management.
Avoid these Medical Billing Mistakes for a Successful Revenue Cycle
Effective revenue management ensures that healthcare providers can focus on giving quality care to patients. However, providers often struggle to bill effectively. Below are the most common errors that prevent healthcare providers from billing properly and collecting on money that the practice is owed.
Useful Tips for Choosing a Medical Billing Service
Outsourcing medical billing services for medical practices or groups can help maximize claims payments and keep your practice compliant. This is accomplished through aggressive collection practices, efficient and accurate execution of billing tasks, and current knowledge of documentation regulations.
What is the relationship between HITECH, HIPAA, and electronic health or medical records?
HIPAA and HITECH lay out strict standards governing information security and privacy of patient information. While HIPAA/HITECH may be a boon to the security of healthcare information, they also throw up a number of challenges like high costs, tracking regulatory changes, extensive documentation and several others.