Patient Collection Strategies During Covid-19
The impact Covid-19 has had on medical practice’s revenues has been nothing short of a financial hurricane. We recommend the following patient collection strategies to help ensure that your practice successfully weathers these difficult times. 1. Clearly Communicate the Patient Portion Prior to the Appointment Date. Your office administrative staff must be vigilant and … Patient Collection Strategies During Covid-19 Read More » ...
Effective Medical Billing
A vital aspect of any medical practice is Medical Billing and Coding, but for small and medium-size medical practices, it’s quite often one of the most overlooked aspects. There can be a situation that you might be seeing the payment denials with the same or more patients, or you are unable to reimburse on a … Effective Medical Billing Read More » ...
When Things Are Not So Smooth With Your Medical Practice
Medical billing can give medical practitioners a tough time managing workflow, system, revenue generation, and more. But when things go wrong with your medical practice, there are solutions for your medical billing process. This blog will show you the possible challenges in your practice and how to overcome them. The following two challenges should be … When Things Are Not So Smooth With Your Medical Practice Read More » ...
How Poor Payer Reimbursements Are Affecting Medical Practices During The Covid-19 Pandemic
If you are a physician who has been in practice for many years you probably remember the days when private payer reimbursements dwarfed Medicare reimbursements. Since the 2008 recession that dynamic has long since flipped. Reimbursements have been flat or have lost value from inflation, while practice costs have seen double-digit increases. Meanwhile, hospitals and … How Poor Payer Reimbursements Are Affecting Medical Practices During The Covid-19 Pandemic Read More » ...
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. According to SuccessEHS, only … Implement Strategies To Collect On Outstanding Patient Balances Read More » ...
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 … Medical Billing Claim Denial Vs. Claim Rejection Read More » ...
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 … Outsourcing Medical Billing Is An Intelligent Decision Read More » ...
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. Gathering incorrect patient information The gathering of patient data is … Avoid These Medical Billing Mistakes For A Successful Revenue Cycle Read More » ...
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. In this blog, we discuss important tips to consider when searching for the right medical billing … Tips For Choosing A Medical Billing Service Read More » ...
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 … The Importance Of Medical Billing Training And Certification Read More » ...