An effective revenue cycle management system must have accurate medical billing and coding. In addition to being essential for compliance, accurate billing and coding are also essential for minimizing claim rejections and denials. ————————————————————————————- Even the smallest deviation in documentation can leave huge gaps in the revenue stream in today’s value-based healthcare environment, where … Read moreHow Does Medical Coding Affect the Revenue Cycle?
To maintain stability and increase cash flow, healthcare facilities must ensure that claims are processed correctly and reimbursed promptly. ————————————————————- Community hospitals in the US alone provided uncompensated care totalling $41.6 billion in 2019. Even though this number seems large, numerous other factors contribute to healthcare organizations’ massive debt, which harms their profitability. We … Read moreTop 5 Ways to Optimize Hospital Revenue Cycle Management
Let’s cut to the chase! According to a study published in the Journal of General Internal Medicine in 2019, 137.1 million Americans suffered from “medical financial difficulty” in the preceding year. That’s a staggering figure to consider if you’re currently dealing with unpaid medical bills — this isn’t a problem you’re facing alone. Many others … Read moreHow not paying your outstanding provider/hospital bills can affect you?
The health care system relies heavily on revenue. Due to the increased demand for documentation and patients who elect to pay a co-payment, everyday providers confront issues collecting money from insurance and patients. Here are some efficient techniques to maximize collections from patient services billing that will make it easier for providers to maintain their … Read moreWhat are the best practices to ensure maximum collections and avoid chasing the patients?
Congratulations, you’ve finally decided to reduce your medical expenses! Out-of-pocket costs or gap fees for medical treatment can be devastating, especially when they occur unexpectedly. Did you know? People have 30% more out-of-pocket medical expenses than they were three years ago, according to a survey released earlier this year by Towers Watson/National Business Group on … Read moreHow to Minimize Your Out-of-Pocket Expenses?
It’s obvious that everything has its own pros and cons! And so, is the case with medical billing! When it comes down to efficiently running medical operations, you have got two options under the hood- either outsource to a medical billing company or do it In-House. The right solution varies from practice to practice depending … Read moreIn-house vs Outsourced Medical Billing – What is Better?
A report of the U.S. Department of Labour stated a surge in the job of the medical billing and coding specialists is expected. Approximately 22% boost in the employment rate till 2026 is projected in the medical billing and coding service industry. The reason behind the high increase in employment rate is the aging population … Read moreWhat Does a Medical Billing & Coding Specialist Do?
As per the American Hospital Association report, US healthcare providers are facing high financial strain. The situation has worsened due to COVID-19, and they have lost around $323.1 billion in 2020 only. Things are becoming more difficult for independent healthcare providers. They are struggling to keep their patient collections in top shape. If you are … Read more6 Tips for independent providers to keep their patient collections in top shape
Covid-19 pandemic has brought many changes in the world. It has taught a lesson of working with minimal resources and utilizing them in a better manner. People and practices now are adopting smart work rather than hard work policies to cope up with the challenges. The Healthcare industry has also faced many challenges as new … Read moreHow to boost billing efficiency post-Covid in three simple steps?
Medical billing is in itself a complicated and time taking process but when it comes to mental health billing the things become further complicated. The major reason why mental health billing services differ from medical billing is that medical billing is somewhat standardized and varies only marginally from patient to patient with basic tests and … Read more5 Important steps to follow under medical billing services for mental health practices