Impact of Telemedicine on Otolaryngology Practice

Impact of Telemedicine on Otolaryngology Practice

Telemedicine is a significant technological and business trend that is influencing medical practice marketing, patient engagement and revenue. Advances in telemedicine technology have reduced operating costs with substantial savings for all types of organizations that utilize medical professionals in some capacity. As a medical professional, how can you benefit from the increased usage of telemedicine in the workplace today?

Uses of Telemedicine on Otolaryngology

Telemedicine has been used in the field of otolaryngology since the early 1990s. Use has occurred primarily in those situations where there was a remote, isolated population to serve; a shortage or lack of availability of otolaryngologist; or, more recently, backlogs of patients needing otolaryngology care inadequately addressed by the existing delivery system.

Below Mentioned Are Some Of The Significant Impacts:

Improvised Patient Flow

When you find that your schedule is relatively light during the middle of the day, scheduling a number of telemedicine “check-in” appointments during that time can let you connect with patients in quick succession. Fast visits increase the number of patients seen in a day.

It Attracts New Patients

For a busy parent or for a patient who can’t seem to make time for an appointment due to their busy work schedule, Otolaryngology telemedicine allows them to interact with a trained physician more conveniently.

Not only can they minimize the disruption that a doctor’s visit adds to their day, but they are also more likely to address small or early indications of medical problem.

Increases Patient Loyalty

Urgent care Otolaryngology clinics and retail clinics offer convenient in-person options and online video visits through on-demand services are becoming increasingly popular. Patients choose these options because of scheduling flexibility, lower transportation costs, and less time away from work. By offering the option to get care from you via video, your patients get the convenience they want without sacrificing continuity of care.

Reduces Costly Cancellations

While it will never be able to completely eliminate no-shows from a practice, it can help save thousands of dollars by reducing a fraction of patient no-shows.

Improves Revenue

Just because your practice is closed for the day doesn’t mean that you have to stop seeing patients. The use of telemedicine on Otolaryngology practice will allow for after-hours care when it is convenient for both provider and patient.

These are just a few of the ways that telemedicine can transform your practice in ways that are great for you, your patients and the bottom line. These advantages explain why video visits are rapidly moving from new and novel, to a standard method of care.

Overall, the general direction of medicine is seen as favorable to the use of Telemedicine. The aging U.S population means there will be more patients and fewer active physicians, which could mean the need for remote treatment options to cover larger areas of the country. If practices continue to consolidate, Telemedicine may become a viable option in suburban or smaller urban areas. It alleviates patient difficulties in accessing a practice that alone is a good enough reason to implement it.

Posted in EMR / EHR / Health IT, Healthcare Reforms, HIPAA / ACA / ACO, ICD-10 Coding, Medical Billing, Medical Coding, Otolaryngology Billing, Otolaryngology billing & coding, Otolaryngology billing companies, Otolaryngology billing guide, Otolaryngology billing guidelines, Otolaryngology Billing Outsourcing, Otolaryngology billing providers, Otolaryngology Billing Services, Otolaryngology billing vendors, Otolaryngology coding, Otolaryngology coding services, Otolaryngology rcm outsourcing, Practice Administration, Practice Management, Revenue Cycle Management (RCM), Why Outsource Medical Billing Services | Tagged , , , , , , , , | Leave a comment

Diversify Orthopedics Billing Practice to Increase Revenue

Diversify Orthopedics Billing Practice to Increase Revenue

The term ‘Healthcare Rationing by Hassle’ as touted by some surgeons showcases the stress caused by numerous changes in the healthcare industry. Orthopedics practice like all others feels the pressure of high costs, new ICD-10 codes concerns, low and delayed reimbursements, declining margins, high deductibles, insurance/payer policy amendments, regulations and other reforms. To combat this and survive, orthopedics billing practice requires diversification and streamlining to protect and increase revenues.

Verifying insurance coverage of in-coming patients, double-checking the patient’s demographics, file claims submission in a timely manner, coding as distinctively as possible, and outsourcing billing and coding can certainly increase reimbursements.

Further Ways To Increase Revenues Are:

Metrics:

  1. Denial Analysis Report: Due to denials being costly and complex, monitoring and reducing them is the key to improve revenues. Report must comprise denial types, reason and description codes, claim value, insurer details, claim resubmission dates and the result.
  2. Claims Turnaround Time: Submit clean claims, scrutinize claim submission delays, and connect with insurance companies at regular intervals for faster payments. Report must encompass insurer details, claim submission and payment date, days left to payments, and average reimbursement TAT.
  3. Physician Productivity: Due to numerous bundled programs, physicians could be at a risk of losing payments. Hence, physicians can set goals/benchmarks against other physicians and decide probable compensation. Aspects required are number of old and new patient visits, appointments, charges and collections, provider revenue and output ratio.
  1. AR Analysis: Assessment, analysis and reporting of AR regularly is imperative. Understanding patient and insurer AR will further optimize payer performance. Features that need to be taken into consideration are claim number and patient details, DOS, CPT, insurer details, total billed amount and balance, and AR details.
  2. Medical Coding Review Report: Orthopedics coding is complicated. Knowledge of key anatomy elements and LCD guidelines is imperative to accurate coding. A coding report consisting of insurer details, paying and value CPT and rejected codes, code compliance with NCCI regulations can reduce DFNB and assist in precise coding.

Further Ways:

  1. Investments In A Surgery Center: To generate additional income, it is advised that surgeons invest (buy) in real estate – office building/ASC. Here, the surgeons tend to receive a higher percentage of compensation for the procedures they perform. Usually, the charges in a hospital are higher than ASCs but profits for surgeons are higher in ASCs. Orthopedic doctors can also work in mini-clinics for additional compensation.
  2. Addition of Imaging Services: Orthopedic practices can add/purchase an open MRI (rather than one for extremities) and offer on-site imaging. Although initial investments are higher, billing for MRI facility fee becomes easier and safer from insurance payers.
  3. Physical Therapists: For added care and increase in profits, addition of a physical therapist is recommended for the orthopedics practice. Rather than partnering with physical therapy organizations, it becomes easier for risk management when the physical therapist is a staff member.
  4. Electronic Systems and Practice Management: Tracking payment, claims management, credentialing software, electronic health/medical records though cost high initially, but ensure high returns due to cutting of transcription costs and apt documentation leading to elevated billing.
  5. New Technology/Procedures: Orthopedic practices have to stay abreast with innovative technologies (in particular for joint replacements) for providing the best and continuum care for patients. Orthopedic practices must check if adding the technology will be a clinical advantage as it will undoubtedly incur high costs. Nevertheless, due to high costs of implants/high-tech equipment’s, the orthopedic practices’ billing and revenues can make a difference, while also be beneficial to the patient by reducing the hospital-stay and/or avoidance of revision surgeries.

Orthopedic doctors and surgeons must be compensated appositely for the valuable service they provide. Hence, billing and coding must be done appropriately as these services are the backbone of revenue cycle and the means to flourish in the unstable healthcare space.

Posted in EMR / EHR / Health IT, Healthcare Reforms, HIPAA / ACA / ACO, ICD-10 Coding, Infographics, Medical Billing, Medical Billing Company, Medical Billing Services, Medical Coding, Orthopedic Billing, Orthopedics billing & coding, Orthopedics billing companies, Orthopedics billing guide, Orthopedics billing guidelines, Orthopedics billing outsourcing, Orthopedics billing providers, Orthopedics billing services, Orthopedics billing vendors, Orthopedics coding, Orthopedics coding services, Orthopedics rcm outsourcing, Orthopedics revenue management, Practice Administration, Practice Management, Revenue Cycle Management (RCM), Why Outsource Medical Billing Services | Tagged , , , , , , , | Leave a comment

6 Tips for Successfully Onboarding Cardiology Billing Staff

6 Tips for Successfully Onboarding Cardiology Billing Staff

Success at onboarding your billing staff is crucial for all billing practices including cardiology. When it comes to making new recruitments at your cardiology billing practice the way you bring your new hires on board has a significant impact on the entire medical billing procedure followed at your clinic and the resultant revenues. The new staff member is expected to master the intricate details of cardiology billing at a given short notice. All cardiology practices have special billing and coding challenges, top it with ever-evolving technologies and complex treatment protocols including endovascular surgery, electrophysiology and diagnostic tests, a new hire has a lot of to catch up with.  The practice of getting the new recruits on board for cardiology billing does not only stop at prescribing their roles and responsibilities to them.  It also includes familiarizing them with the workplace rules and culture and making sure that they integrate with your other team members. If you pay enhanced focus on onboarding your new employee they are likely to gel in better from the start and will also contribute immensely to the office culture and improved cash flows in future.

Here are some time tested tips that work wonderfully for successfully onboarding cardiology billing staff:

Begin With Basics

All employees have a right to know about basic office amenities, rules and regulations. Give them an office tour, explain the in and out time, and introduce them around. A formal and informal introduction later they may feel better and would be less hesitant to ask for help if needed.

Define Roles and Expectations

You can begin with a prescribed pre-written list of responsibilities that your office has in place for the role you are recruiting for. Go over it with the new hire again. Have an established member of the billing team walk your new hire through your process, so that all his queries are sorted from the start. This will give them a confidence boost. If the new hire is in place to replace someone else, have the billing department train them first. You can also refer to your cardiology practice billing software provider to help with this sort of training.

Stick to Standardized Office Practices

It’s always beneficial to have a standard system in place that dictates what to do with new claims, how to verify codes and how to process declined claims. Putting in place some standard rules for all aspects of cardiology billing and collection process, can help your medical practice be on track with billing and revenues. Standardized office practices help your clinic sustain even when you experience employee turnover or your team grows.

Prioritize Patient’s Security

It’s imperative that anyone who has access to your system is aware of basic safety and security rules. Not only is this important in view of the HIPAA regulations prescribed but also are crucial in maintaining the integrity of your own network. Talk to the new employee about any rules that concern passwords, internet access or even mobile device access. This knowledge helps the new hire to work actively and participate in protecting the assets of your practice from the very start.

Have Checkpoints

Give the new hire some time to catch up at his speed. Make sure you stop by at the end of the day for a first few days for a review of the work they do. A friendly review after a week also helps in enhancing the productivity of the employee. Ensure that they have everything in place to succeed and make it a point to extract some feedback from them about your workflow and onboarding process itself.

Onboarding your cardiology billing staff can pay off immensely in terms of retention and employee loyalty.

Posted in Cardiology Billers And Coders, Cardiology Billing, Cardiology Billing Agencies, Cardiology Billing Association, Cardiology Billing Coding, Cardiology Billing Companies, Cardiology Billing Company, Cardiology Billing Guide, Cardiology Billing Guidelines, Cardiology Billing Outsourcing, Cardiology Billing Providers, Cardiology Billing Service, Cardiology Billing Services, Cardiology Billing Vendors, Cardiology Coding, Cardiology Coding At Home, Cardiology Coding Services, Cardiology RCM Outsourcing, Cardiology Revenue Management, EMR / EHR / Health IT, Healthcare Reforms, HIPAA / ACA / ACO, Home Cardiology Billing, ICD-10 Coding, Infographics, Medical Billing, Medical Billing Company, Medical Billing Services, Medical Coding, Medicare Medicaid, Online Cardiology Billing, Practice Administration, Practice Management, Revenue Cycle Management (RCM), Why Outsource Medical Billing Services | Tagged , , , , , , , , , , , , , , | Leave a comment

Must-Have Features in Medical Practice Management

Now that more and more medical practices are transiting towards electronic medical records, it’s important to know that not all medical practice software available will equally perform. To have a high-quality electronic medical practice management is your first step towards patient care, however; having top-notch medical practice software is not enough. To thrive in your practice, you need to make sure that the software you have invested in is giving you the kind of output that lets your medical practice perform with sustainability.

All you need to do is analysis on certain factors of what kind of medical practice management software will be good for you.  Surely, there will be a tough time in shortlisting one as this billing software can be customizable and user-friendly health practitioners are able to see several benefits of using these solutions.

To ease out your confusion, we have line 7 must have features in medical practice management:

  1. Easy scheduling

Implementing comprehensive scheduling feature that comes equipped with patient records can do wonders to your practice. It lets you have a streamlined practice with enhanced patient communication. Additionally; with varied color code scheduling makes your work easier to let you know in advance about your patient. The system allows you to maximize/minimize according to your practice requirements.

This built-in feature lets you to set up reminder, add personal info, phone reminders etc.

  1. Built-in Tracking Analysis

This feature certainly helps in enhancing patient care and objectively demonstrates each practitioner’s clinical strengths and effectiveness. By collecting objective data during each and every patient encounter, you’re more empowered to prove your value, enhance patient care, and maximize payments. Your medical practice surely sees the results like:

  • Lowest cost of care
  • Highest levels of patient satisfaction
  1. Error-free compliance measures

Healthcare compliance is kind of a big deal and staying ahead of these important rules and regulations could help practices avoid claim denials and audits. Fortunately, secure, cloud-based software systems have your back with built-in features that ensure providers follow best practice keeping patient data safe.

In times of increasing regulations & decreasing reimbursements, your medical practice can’t afford any kind of errors hence; getting a quality medical billing service is a must.

  1. Quick data exchange

Now a day, health care has become increasingly patient-centric, wherein the technology continues pulsating ensuring patient data is properly collected and carefully transferred from:

  • Provider to provider
  • Provider to payer

To achieve this goal, the systems within the offices of healthcare providers, payers, and other stakeholders must be able to speak the same language and, thus, facilitate the successful exchange of patient data across all health IT platforms.

  1. Web access

Having a busy office has the potential of taking away massive amounts of your personal time.  Burnout will come quickly if you are not able to take your patient charts with you.  A web-based medical practice management system will allow you to connect from anywhere with an internet connection will keep you from being chained to your desk.

  1. Secured communications

There are a lot of regulations about the security of sharing electronic health information.  When it comes to privacy, secure communications are a must especially if you are sending notes, referrals or faxes from outside the office. With an efficient medical practice management system, you rest assured to send secure communications whether you’re inside or outside of the office.

  1. Robust accounting features and point of sale

Having a complete robust accounting feature along with the point of sale functions means your financial reports, inventory counts, and payment and deposit information is always accurate without having to grant unnecessary access to sensitive financial software.

Apart from the above-mentioned 7 must have features there are other crucial features to look for like integrated claim management, intuitive charting, and mobile-friendly interface, smart document imaging, and reporting.

 

Posted in Medical Billing, Medical Billing Company, Medical Billing Services, Practice Administration, Practice Management, Revenue Cycle Management (RCM) | Leave a comment

How can Outsource Medical Billing Transform your Patient-Care?

how-can-outsource-medical-billing-transform-your-patient-care

As a healthcare provider, your primary concern is with your patients. For you to provide a better financial wellbeing your practice enables the highest quality of service.  Unless your practice gets the permitted level of return for this you need to provide the best of patient care. To make your practice ready for the best of patient care and in turn channelize your reimbursement. Here some aspects which will help you to verify the reason of outsourcing your billing with regards to your patient care.

Compliance :

Compliance with federal regulations is one of the most important steps. HIPAA and federal regulations set for providers if not followed can cause some hefty fine on your claims. Each insurance company has different types of compliance issues when to comes to claim submission you have to understand different regulation in the billing process. If you have a claim which not compiling with the specified format would cause a denial.

The complications have now increased with providers needed to participate in the patient care program set by CMS. Though the compliance will affect your patient care but make to channelized so that your reimbursement process doesn’t get affected.

Cost analysis :

Outsourcing billing comes down to a single fast fact that is increasing your collection and reducing the denials. It’s as simple as this for any outsource billers and providers. The staff cost for any biller is almost $80,000 per year while for an outsource billing company you have to pay $15 per hour based on the claim. Mostly when it comes to paying a coder and biller the cost is distributed among all the providers who are interacting with outsource medical billing.

Software and Hardware cost also go up with the expansion of any practice but with an outsource medical billing company we can implement the strategy of making a better revenue management. With a view of channelizing the reimbursement.

Value for your Medical Billing :

With a team of billers and coders, all your compliance issues can be solved with an end to end revenue management. They will not only implement the collection increase channel but also take a burden of your documentation and administrative work for a patient billing. Outsource billing company will certainly add value without affecting your patient care.

As a provider, you have to be emergency ready for many cases but with unloading of admin work you can further implement your patient care values in daily practice.

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Myths about Outsource Medical Billing no Medical Company will tell you about

myths-about-outsource-medical-billing

Let’s start with a simple question: –

Why do you outsource your medical billing? Take a minute to think about it.

If any of the below answers appeal then this blog will help you to implement this strategy into your practice.

  1. Increase Collection for your practice.
  2. Your In-house billing was incompetent.

For physicians and healthcare managers the medical billing thus far is the most mystical process in the healthcare reimbursement system.

Let’s demystify the process for you in the simple terms.

  1. Is Service Guarantee Important?

Billing service is important for any physicians when you go hunting for an outsourced billing they will share key statistics related to AR and collection. For example, days claim stay in AR for your specialty and percentage of claims turned over to a collection agency.

It’s important for you to understand the facts of billing company from the point of insurance company they might transfer charges to a collection to make their AR days look better.

Before you start discussing the charges on billing service try to accommodate some guarantee billing service.

  1. Will specialty matter for you?

It’s an easy aspect for you to know that coder who understands your specialty will be able to work with more productivity and will generate fewer errors than a coder who is an infant. The longer the coders have worked for your practice the better they will be for your billing.  Understanding the specialty jargons, anatomy and internal working is invaluable for your practice.

Look for a billing company which has handled your specialty will help you to get your reimbursement on the right track.

  1. Need for coding knowledge

The inclusion of ICD-10 coding was an important step more than 67,000 codes are inducted into the billing system.  As diagnoses, procedures, and prescription each one of them have different codes the technical know-how about how the coding and billing system will systemize your business. Though it’s a responsibility of coder to translate the images into correct codes.

The above three-factor will demystify while selecting a outsource medical billing company for your practice.

MedicalBillersandCoders.com (MBC)

MedicalBillersandCoders.com a outsource medical billing company with a team of expert billers and coders. The team has more than 16 years of experience striving towards performing some of the best coding and billing practices in billing.

An outsourced billing company will be more focused in billing collections. With low error ratio and less than 30 days period for account receivable.  The company will be able to track the factors affecting your billing like coding, payer mixes and aging of receivables.

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Does Outsourcing Medical Billing affect your Practice?

does-outsourcing-medical-billing-affect-your-practice

Outsourcing has been the word around whether you look through any sector. From common cars to the toothpaste you are using now not a single company makes the whole product; there is a group of companies involved in making the product a reality.

One reason that has helped the companies approach outsourcing is it makes the product production simple for the seller. The core seller can handle the bigger bandwidth of customers and just put out the requirement for certain ingredient. Outsource also help in reducing the cost of the total product as there is a transfer of total workload from single core seller.

Outsourcing in healthcare is based on the same lines help the providers to channelize their core energy towards patient care.

Reducing the stress on office resources :

Outsourcing helps in promoting the resources management for the providers.  The resources such as office space, technology, and human management this leads to further bring down the development and revenue generation.

Per employee turnover :

For every employee in billing department unless your practice is handling more than 1500 patients per day it’s not important for you to employ such a huge number of staff for billing.  Most of the billing work is mind-numbingly and some of the sophisticated skills need analysis, synthesis, and communication. Very few people are capable of such high level of requirements and individual cost would multiply for each resource.

Technology :

Technology is one factor that affects the revenue management of providers with a big hole, the need of backend technology to automate the unnecessary human activities will dent your revenue. The need of conserving the revenue leakages to promote growth is one imperative topic of your practice. An outsourced billing service  will distribute the cost among the clients.

Feel of Marketplace :

Accessing broader perspective of healthcare facility including the marketplace can promote your revenue management. The most valuable aspect of medical billing and coding is to stay updated through the insurance regulations. An in-house biller would lack the lead in this factor and the outcomes may suffer at many points.

Data Analytics for your practice :

A billing service might need information whether the practice is doing well or whether the practice is lacking the necessary up thrust. A solid data analysis can impact the provider revenue management positively by pointing the necessary loopholes in the practice. It will help in identifying the necessary bottlenecks of practice.  A good billing company will constantly keep you updated as to which of your claims are getting stuck in regulation and which can proliferate your revenue generation.

Know your account Receivable :

An outsourced medical billing will analyze your Account Receivable (AR) with regards to your competitors. The percentage of claims which are submitted upfront and are getting paid, how many of them are outstanding in terms of age for 30 days, 60 days and 90 days. It’s important that with your practice and your internal billing team might never have the necessary time to sort this out.

Drop down Payer Audit :

Payer audit is the most important part for provider a false penalty can impact the provider reputation and is a most important aspect. For a providers as the outsource billing company is well versed with nomenclatures of billing.

About Us:-

MedicalBillersandCoders.com a medical billing company with over 18 years of experience. We have resolved regulation and billing issues for more than 150 clients across different specialties.   For more info click here or call us on:- 888-357-3226.

Posted in Medical Billing, Practice Management, Revenue Cycle Management (RCM), Why Outsource Medical Billing Services | Tagged , , , , , | Leave a comment