Let’s admit it, after a good month of revenue –account receivables on the balance sheet make us sad. Account receivables or AR appear under current assets in the balance sheet. And their recovery isn’t easy. However, there are ways that you can employ to pursue your customers who have held back their payments. Recovery of … Read moreHow Small Practices Can Make AR Recovery Sharper and More Precise
Starting a medical practice and ensuring that it runs smoothly involves quite some planning, effort, and execution. Among these, investing time, efforts, and resources on account receivable should be the last item on your to-do list. Account receivables involve managing and going through endless reports for insurance claims, reimbursements, bad debts, collections, and write-offs. In … Read moreTop 10 Benefits of Outsourcing Accounts Receivable Services
Healthcare billing 2019 was all over the news with critical issues such as surprise medical bills, which is yet to find an effective solution and changes in the Medicaid payment, which became a legislative issue. But what healthcare staff around the country are anticipating with a batting eye is the latest medical billing and coding … Read moreMEDICAL BILLING TRENDS TO WATCH-OUT FOR IN 2020
Wondering why your healthcare facility should outsource? With the increasing population, the need for advanced medical facilities and healthcare treatment is exponentially increasing. The healthcare organizations and medical practitioner’s first duty is to attend to and deliver quality treatment and care to the patients. But to be able to do so, they need a robust … Read moreWHAT IS EFFECTIVE HEALTHCARE OUTSOURCING?
Is your account receivable out of control? Are you unable to unclog the pending accounts? Is your overlooking starting to impact the cash flow? It’s time you identify what is disrupting the AR management and why you must outsource services. CAUSES OF AR CLOGGING Improperly claimed services; Errors on billers and coders part can lead … Read moreHOW YOUR PRACTICE CAN BENEFIT FROM AR OUTSOURCING?
The efficiency of the billing and coding process can not be stressed enough with the value-based care now in action. The shift to patient financial responsibility is further pressuring the healthcare practices to work on improving their billing processes. Similar to any industry in the market, healthcare too needs to set up and work over … Read moreHEALTHCARE REVENUE KPIS TO KEEP TRACK OF
With the continuously evolving healthcare policies, including more patient responsibility and increasing the intricacy of the already complex healthcare landscape, ensuring a sound revenue cycle management is becoming a back-breaking task for the healthcare operators around the nation, but there is no scope for mistakes. Practices and providers have to ensure that billing and claim … Read moreREVENUE CYCLE PARALYSIS: OPTIMIZE IT
The US healthcare system has drastically changed and how! No longer is only the provider bearing the burden of financial responsibility, with the liability now shifted more towards the patients. Furthermore, the high deductible policies and the yearly escalation of the number of co-pays and insurance, the out of pocket expense for the patient’s have … Read moreTIPS TO IMPROVE PATIENT COLLECTION
IMPORTANCE OF AR MANAGEMENT Account receivables follow-up play a crucial role in the medical billing and coding process, ultimately impacting the revenue cycle. They make sure that the insurance providers pay the payment owed without disrupting the flow of revenue cycle. With the aim to reopen a denied claim to get maximum reimbursement, the job … Read moreDON’T MAKE THESE AR MANAGEMENT MISTAKES
Automation ever since its introduction in the early 1900s has been rapidly disrupting various industries by minimizing the manual efforts, enhancing accuracy, paving the way for the workforce to better utilize their knowledge and skills towards growth and development. One of the industries massively transformed with automation is healthcare system, which post-digitization has gained more … Read moreAUTOMATE HEALTHCARE, ENHANCE PRODUCTIVITY