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!
Top Medical Billing Technology Trends
Technological advances are being released faster than ever before. Because of this, companies have had to stay on top of the changes in medical billing. Here are some of the top technology trends in medical billing shaping the healthcare field’s future.
The Advantages of Outsourcing Your Medical Billing
Medical billing can be a challenging task for many practices. A majority of practices decide to outsource their billing because they don’t have the time or resources to do it themselves. There are pros and cons to outsourcing, and each practice needs to evaluate whether it would be beneficial for their current situation. In this article, we go over the advantages and why outsourcing your medical billing can save you time and money.
ORI’s Top FAQs
As the healthcare and medical billing industry continues to evolve, many practices have started to explore options for outsourcing their billing to achieve a better revenue cycle and workflow. We’re proud to provide services throughout the country with offices in Minneapolis and Chicago. ORI offers medical practices a more efficient and accurate way to complete their billing. Here are some frequently asked questions that we discuss with potential clients:
Ways You Can Improve Your Clinic’s Collections and Cash Flow
The healthcare industry faces a multitude of issues related to revenue management, debt, and rising costs. Your medical clinic should have the proper processes in place to help maximize cash flow so you can give your patients reliable, quality care.
What Medical Clinics Need to Know About Cybersecurity
Healthcare providers continue to be a prime target for hackers. According to Bitglass, cyberattacks on medical providers rose by over 55% in 2020 compared to previous years as many practices focused on virtual care. Patients’ data is extremely valuable on the black market, and hackers know that clinics are often not well-protected.
The Biden-Harris Administration’s Announcements on the 2022 Medicare Open Enrollment Period
Ushering in this year’s enrollment period, the Biden-Harris Administration announced their continued efforts to lower costs and expand access to healthcare. According to CMS, it will be the most competitively priced marketplace in history.
REH Designation Conditions Finalized by CMS
Beginning January 1, 2023, the Rural Emergency Hospitals (REHs) designation will become available. Announced in the Consolidated Appropriations Act of 2021, it was created to address the specific complications that rural providers face in the health care system. Eligible hospitals can apply for this new Medicare designation if they align with the conditions.
How Outsourcing Billing Can Support Medical Staffing Challenges
As we enter Q4 of the year, the healthcare industry continues to see struggles with retention and staffing. According to an MGMA stat, this supports a poll by medical practices that found 73% rank staffing as their biggest challenge in 2022.
Evaluating Your Outsourced Medical Billing Partner
As with all services, there comes a time to evaluate whether or not you’re receiving the right service for your needs. We’ve put together a guide to help you evaluate your outsourced medical billing partner so you’re making the right investment.
How to Choose the Right Telehealth Software
Patients are overwhelmingly looking for providers that offer them a multitude of digital convenience options. Their top wants range from online payments to online scheduling to virtual appointments. As a result, providers have been investing in more software and digital tools that can improve the experience of both staff and patient.
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.