Expert Medical Billing & Revenue Cycle Management Tips
Stay informed with the latest insights in medical billing, revenue cycle management, and healthcare financial strategies. Our expert-driven blog covers industry updates, best practices, and practical solutions to help your practice optimize billing, reduce denials, and maximize revenue. Explore our articles and take control of your financial success today!
Prepare for 2022: The No Surprise Medical Billing Act Goes Into Effect January 1
Providers should be prepared for the “No Surprises Act” to officially take effect in only a few short weeks. The law was signed in December 2020 and outlined to begin on January 1, 2022. This has given providers, insurance companies, and other healthcare professionals the time to plan out how they will be going along with this big change.
The Importance of a Structured Process for Aged Medical Billing Accounts
As a fresh new year looms ahead, medical clinics should be taking the time to audit their billing. The sheer number of patients they see in a year or even a few months can make it difficult to keep up with their claims volume and the many stages they will be at whether it’s paid, outstanding, late, or aging. Failing to properly track the stages for follow-up could result in a large amount of lost revenue for a provider.
Tips for General Efficiency in Medical Billing
Efficiency in medical billing doesn’t just require expert billers. It also relies on a solid process that begins when a new patient first steps into the office and continues throughout the entire time they make appointments at your clinic. Essential information needs to be recorded, and follow-up procedures need to be implemented. Overall, here are the tasks needed for a smooth billing cycle.
How Medical Billing Codes Will Be Changing in 2022
One of the most common reasons for a claim to get rejected or a clinic to not get fully reimbursed is due to incorrect coding. The healthcare industry is constantly changing, and its regulations on billing are no different. It’s important for billers to stay on top of those changes to ensure their clinics get a full reimbursement for their services.
CMS Releases the 2022 Medicare Physician Fee Schedule
CMS has released their final calendar year (CY) 2022 Medicare Physician Fee Schedule on November 2, 2021. Important takeaways include: The proposed conversion factor will be $33.59, which is a decrease of $1.30 compared to the 2021 conversion factor. The 3.75% payment increase that was provided through the Consolidated Appropriations Act of 2021 will be expiring in the new year.
End of the Year Budget Evaluations and How Outsourcing Your Medical Billing Can Help
New year, new opportunity to streamline your billing workflow and revenue cycle. Medical offices should discuss their budgets for the next year and what they can invest in for peak efficiency.
Supply Chain Problems And How It Is Affecting Medical Clinics
As industries around the world have encountered a disruption in the supply chain, shortages, and delays across healthcare are being experienced. For healthcare, the supply chain begins at the medical supplies and product manufacturer.
The New Surprise Bill Goes Into Effect January 1, 2022
After January 1, new legislation will take effect that is meant to end surprise medical billing for those receiving health services in the United states. Surprise medical bills are typically defined as someone being surprised by a medical bill whether it’s due to the price or them thinking the service was covered by their insurance.
How Outsourcing Can Save Your Office Money
When it finally comes time to evaluate processes, some medical clinics are lost on how to correct lost revenue due to billing issues. It may mean you need to hire another biller for your team, or it may be time to explore the benefits of outsourcing. Some offices start out hesitant to go from in-house to outsourced, but then they learn about all the benefits.
National Suicide Awareness Month
September is National Suicide Awareness Month. For mental health clinics, this month highlights an important topic they have to deal with firsthand in their line of work. Some patients will need therapy and medication to help regulate their mental health, some may only require a lifestyle change, but it’s always encouraged to focus on building a better routine. Routines take an average of 66 days according to Healthline, so it’s important to keep at it.
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