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!
The Importance of Outsourcing for Maximizing RCM
Outsourcing has become an increasingly popular practice in the healthcare industry for maximizing revenue cycle management (RCM). Revenue cycle management is the process of managing financial transactions that occur between a healthcare provider and a patient, from the initial appointment to the final payment. Maximizing RCM is crucial for healthcare providers to remain financially stable and provide quality patient care. In this blog post, we will discuss the importance of outsourcing for maximizing RCM.
How to Find and Keep Talent
The healthcare industry is one of the most challenging and dynamic fields. The nature of the work can be stressful, and the stakes are often very high. That’s why finding and keeping talented healthcare professionals is so important. In this blog, we’ll explore some of the critical strategies for attracting and retaining top talent in healthcare.
Payment Plans: How to Make it Easier for Patients to Pay
Increasing high deductible health plans (HDHPs) refers to the trend of patients paying for more of their health care services. When out-of-pocket deductibles reset on January 1st, patients with HDHP deductibles reset. This is not insignificant, with some deductibles being as high as $5,000 to $10,000.
How to Minimize Denials
Denials are a constant headache for healthcare organizations and their financial executives. With the denial rate increasing over the past few years, it’s time to step back and reevaluate processes. This blog will review three tips for success from the Change Healthcare 2022 revenue cycle denials index.
Advantages of Using a US Medical Billing Partner vs. an Offshore partner
The medical billing process is critical to the financial success of any healthcare organization. To maximize reimbursement and minimize denials, choosing a billing partner that fits your needs is essential. There are many factors to consider when making this decision, including cost, experience, and location. Below we will explore the pros of selecting a US-based medical billing partner versus an offshore partner.
Physician Turnover: How Outsourcing Your Medical Billing Can Help
Physician turnover and burnout are major issues facing the healthcare industry today. According to a recent survey, nearly 50% of physicians report feeling burnt out, and many are leaving their jobs as a result. This is true for physician owners as well as contracted providers. This not only disrupts patient care but also adds significant costs to healthcare organizations in terms of recruitment and training of new physicians.
How to Evaluate Your Clinic’s Billing Procedures
As a clinic owner or manager, it is important to regularly evaluate your billing procedures to ensure that you are accurately and efficiently billing for your services. This not only helps to maximize your revenue but also helps to build trust with your patients by demonstrating transparency and fairness in your billing practices. Here are some steps you can follow to evaluate your clinic’s billing procedures:
HIPAA Compliance for Independent Medical Clinics
Independent medical clinics working in the healthcare arena need to be HIPAA compliant. Specifically, the HIPAA or Health Insurance Portability and Accountability Act requires not only health care providers but all covered entities, business associates, managed service providers, and software companies to follow HIPAA guidelines.
Key Performance Indicators for Independent Medical Clinics
Which KPIs are important to your medical clinic, and how can you use the data in a meaningful way that reduces expenses, increases quality, and improves profitability?
E/M CPT Code Changes for 2023
The American Medical Association (AMA) released updates to the Current Procedural Terminology (CPT) code set for 2023. The main goal of the updates is to simplify the codes and guidelines for evaluation and management (E/M) services to give healthcare providers more time to focus on their patients.
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