Medical billing is a tricky job that accounts for intense labor, huge investment, and valuable time. The new healthcare reforms that revolutionized the US healthcare industry in recent times have complicated medical billing operations. Because of this reason, healthcare organizations and independent practitioners face a hard time tackling billing operations while focusing on patient care. The best solution would be… Read more »
Most of physicians and Medical Practice have agreed, Medical Billing Outsourcing as beneficial in comparison to In-house billing. While the benefits Outsourcing is long-established resulting in an increased number of physicians and Medical Practice shifting from in-house billing to Outsourcing, there are a lot of areas to check and validate while choosing a suitable Medical Billing Partner. Let us look… Read more »
Medical Billing is the backbone of your practice which embraces the bottom-line of your business. Efficiency is the cornerstone for any Medical Billing Process, without which your Practice may seem unmanageable. However, with Patient care as the prime function, efficiency in Medical Billing can be challenging to be achieved. A physician’s core focus is fully tied up with the daily… Read more »
While both In-house billing and outsourced billing have their own pros and cons, studies and testimonials have proved Outsourcing Medical Billing Process to be more beneficial and the best choice for any setup. Read through the article to understand why Outsourcing Medical Billing is the better option in comparison to In-House Billing. Medical Billing can be a Complicated and Arduous… Read more »
Medical Billing Companies are third party service providers striving towards achieving the financial goals of any Medical Practice or medical group while the physician renders his complete attention on patient care and satisfaction. While handling Medical Billing In-house may seem successful on the surface; apparently diving deep down into the process level and looking into the numbers can say a… Read more »
The diagnosis Code ICD -10 CM (International Classification of Diseases 10th Revision Clinical Modification) is the crucial part of Medical Coding which can affect the financial aspect of the claim if not documented appropriately. Assigning accurate codes requires the physician to provide complete and accurate clinical documentation of the procedure, however with the regular update of Medical Codes and the… Read more »
While practices strive towards efficient and qualitative medical billing and coding to enhance claims first-pass rate and monthly collections; conversely claim denials, rejections and low payments are inevitable. Medical Practices lose a tremendous amount of revenue by not working on denials and ignoring unpaid claims. These missed revenues can be earned by reworking and appealing with the payer, the process… Read more »
Claim denials and Denial Management are the most challenging area in Healthcare and Medical Billing. Every physician, medical practice, and the medical group is striving towards achieving quality Medical Billing and Coding with conscious efforts towards keeping claim denials at bay. However, billing and coding errors seem to be unavoidable owing to various reasons, making efficient Denial Management process the… Read more »
Every Medical Specialty has its own unique significance and complexities, the deeper and detailed the procedure, billing process also gets detailed and intricate. Cardiology is one such specialty that deals with severe and chronic conditions which make Cardiology Billing Challenging. Let us discuss the major pitfalls in Cardiology Medical Billing and how practices can deal with them. Follow Coding Updates… Read more »
Medical Billing Denials are the most common concern of every practice. Claims denials and rejections are inexorable however they can be controlled to a greater extent with necessary steps and obligatory checks. Let us discuss in detail the causes of claims denials and some tips to avoid them. Most common reasons for Medical Billing Denials: A claim can be denied… Read more »
Managing Physician Practice has never been a cakewalk more over the novel changes owing to recent global COVID and pandemic attack has worsened the situations which have left the physician lookout for alternative supports for efficiency in Practice Management. Here are some Top Physician Management tips for Streamlining your Practice Process Advancement and Streamlining: Analyze your current Physician Practice Management… Read more »
Physicians Credentialing privileges and status is directly linked to revenue flow of the practice. Delayed or expired credentials can affect the Medical Billing and Reimbursement process. Planning on the Physician Credentialing or Re-credentialing requirement in advance saves revenue loss to greater extend, however handling Physician Credentialing can be a cumbersome and laborious task involving lot of paper-works and supportive documents;… Read more »
Healthcare Contract Management majorly deals with management of contracts between payor and providers. Complexities involve with the ever-changing policies, regulations, compliance and insurance charges to be monitored and tracked for efficiency and quality. It can get difficult for physicians and medical practices to keep a track of the contractual agreement and focus on patient care and achieve maximum reimbursement. With… Read more »
Getting due payment or reimbursement without any shortfalls is a primary focus for any Physician or Medical Practice. However real-time scenarios can give a different picture with reasons such as low paid, rejections, denials and payment delays. While getting 100% timely payment for all claims processed might seem impractical, working towards achieving maximum reimbursement within the turnaround time (TAT) and… Read more »
Physician credentialing is a mandatory process to generate revenue. Being Out of Network (OON) can turn out to be complicated and challenging in terms of getting the reimbursement for service rendered. Therefore every physician aims to get credentialed and being In-Network with the top insurance careers to ensure they can get their claims processed effortlessly and stay away from the… Read more »
Insurance carriers have various checks and parameters that contemplate towards 100% reimbursement. Payments for Physician services are considered taking into account of each and every process and task involved right from patient visits, consulting, prescribing medications, treatments and procedures, and even the after care services. Hence it is essential for any provider to document every process in detail. Missed or… Read more »
