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!
We Are Industry Leaders of School-Based Medicaid Claiming and Billing
Our comprehensive approach to school-based Medicaid Claiming integrates Financial and Special Education personnel to thoroughly compile every aspect of required state and local reporting to maximize reimbursement. Our benefits of service include a comprehensive approach from service provision, to claiming, to quarterly and annual reporting. We can provide efficient software that saves providers time, enhances program reporting, and ultimately realizes district revenue maximization.
Ambulance Medical Billing and School-Based Medicaid
Since 1998, Outsource Receivables Inc has been the Twin Cities local expert on medical billing for specialty clinics, but did you know Outsource Receivables Inc is also your billing specialist for Ambulance/Medical Transport and School-based Medicaid billing?
Ambulance and Medical Transportation Billing Services
Our expertise and focus on communication and relationship building are the keys to helping us maximize cash flow and ensure the fastest possible return on investment for ambulance services provided. Our ambulance billing record has consistently yielded a 95% collection rate.
2020 Medical Billing Changes on the Horizon
As with most years, 2020 looks to be shaping up to bring changes to the world of medical billing. The team at Outsource Receivables, Inc. has you covered with easy-to-use technology solutions and a team of experts who work to support your success.
As recently as November 1, 2019 cms.gov has announced the Finalized Policy, Payment, and Quality Provisions Changes to the Medicare Physician Fee Schedule for Calendar Year 2020.
Busy vs Profitable
In November, most specialty clinics can honestly say they are very busy. Many deductibles for the year have been met and patients who have been putting off services are now eager to make appointments before the end of the year.
But busy in business doesn’t always equate to profitable. One of the most common goals clients express is the desire to be a more profitable medical business. Most businesses, whether they are large or small, struggle with this same goal of being profitable. For more than 20 years, Outsource Receivables Inc has worked with specialty medical clinics to help them be more productive in the area of medical billing. Boosting productivity is one of the most important steps to becoming more profitable.
Overview of a CareCloud Demo
Reading all about the benefits of CareCloud is one thing but seeing its usability in real-time will really show how its software has been designed to benefit practices of all sizes. When interested users request a CareCloud demo, they get a thorough showcase of how this expert, cloud-based software can improve your clinic’s profitability, productivity, and patient engagement. Thanks to its customizable system, it can be utilized by practices of all sizes so they can work smarter, not harder.
CareCloud’s Patient Engagement Tools
One of the most important aspects of modern healthcare is convenience. Patients and clinic billing staff are all busy and the use of digital tools to streamline daily tasks such as setting up appointments, collecting payments, contacting medical providers, and allowing patients to easily communicate with their physicians streamlines the entire process for all involved. With CareCloud’s user-friendly and cutting-edge patient assessment and engagement tools, you and your patients will save time.
Your Revenue Cycle and the Evolving Healthcare Market
Optimizing your revenue cycle takes more than ensuring billing is done in a timely way and claims are monitored and worked regularly—it also requires expert management to confirm you’re getting the most out of your current billing process. Healthcare market factors are constantly evolving. Change is the billing process can make it challenging to keep up and optimize billing to your advantage. Luckily, there are experts who can help when searching for market and industry updates.
Billing Reports and Key Metrics to Monitor Monthly
Effectively running a practice takes skill, exceptional patient care, timely/accurate billing and flexibility to adapt to the ever-changing healthcare billing landscape. A process that worked a year ago may not be as effective today. Codes change. Medicare requirements change. Software and its capabilities change. If there is one thing consistent about medical billing, it is change.
CareCloud Case Study Recap: Optimizing the Revenue Cycle
In this CareCloud case study recap, Premier Dermatology, an award-winning dermatology office in Silicon Valley, was struggling with multiple billing issues and needed an optimized solution. Their previous billing system resulted in tens of thousands in collections, difficult to manage co-pays, and a complicated, disconnected system that their administrative staff was not able to fully utilize. By switching to CareCloud, they increased their profitability, eliminated high collections, and improved their first pass resolution rate in a short time frame.
Best Practices for Medical Billing Productivity
Medical billing does not solely rely on correct coding and up-to-date regulations to be successful; for a productive billing process, it requires the right information to be collected when the patient makes an appointment, routine follow-up, and much more. Here are some ways to improve a medical practice’s billing management:
• Start off right. Have a script or checklist available for the front staff desk to gather all the necessary insurance information.
Start Optimizing Your Revenue Cycle Today
Not sure where to begin? Our FREE financial assessment will identify opportunities to improve your revenue cycle and increase collections.