Formula for Improved AR: Connecting Physicians with Medical Billing Companies through Correct Dashboard

Formula-for-Improved-AR-Connecting-Physicians-with-Medical-Billing-Companies-through-Correct-Dashboard

Your patient’s schedule is piling at the seams. Providers have already added and yet, your cash flow is not up to the mark or say slow. So where is the cash?

Take a good look at your accounts receivable (A/R) process. You may find that efficiency is lacking and overwhelmed staff is hindering revenue growth.

For the healthcare providers, offering critical health care services; having optimized medical billing service is a primary thing. To ensure long term operations, to streamlining the complex collections to overcoming the continual declines in reimbursements and to satisfy the new reforms there are numerous tasks that need to constitute. Therefore; health care service providers need an improved Accounts Receivable (AR) solution that ensures patients information and claims are error free.

How Clinicians Will Have Improved Patient Care Connecting Medical Billing Companies Through Correct Dashboards?

Earlier, Accounts Receivable management was not given much of importance but today it has become an expertise job.

These days, clinicians and physicians can have an improved Accounts Receivable (AR) policy through correct dashboards that manages you’re the day to day revenue cycle without any errors. Anything short of precise pre-authorization, crisp coding, and sharp billing practices is hiding revenue.

  1. Comprehensive dashboards not only collect charged information quickly, as they have built-in error correction and reconciliation processes to assure that every procedure performed is billed.
  2. Along with payments, all EOB information is posted, including denial information.
  3. Secondary claims are filed automatically as soon as the primary payment is posted.
  4. A patient statement is directly sent after an insurance payment is posted, if a patient balance exists.
  5. Patients can pay through online portal, phone or mail with variety of payment types available: credit card, check, e-check, etc.
  6. Rejections are reviewed and processed immediately by the appropriate specialist, based on its type.
  7. Underpayments are identified and worked by an insurance specialist.
  8. Delays in payment from insurers or patients are reviewed with follow-up activity by A/R experts.
  9. Entire billing task is visible to clients on a day to day basis.
  10. Complete reporting and analysis is offered on each client’s schedule: monthly, weekly, daily.

  • Improved Communications

To maximize the financial results of your practice, you need a seamless access to the key metrics which also gives a clear picture of your performance.

That’s why several medical billing companies have come up with innovative ideas; these companies are offering role-based dashboards for every user in your organization with workflow shortcuts, a list of to-do items, and real-time key performance indicators. This keeps your people focused on the key tasks and metrics that drive your success.

This will help health care professionals to connect and communicate better with medical billing service providers for health related information which make it easy to track patient’s encounters with the systems, delivering real time clinical information and content specific about patients’ disposition and obviously a good way to enhance the performance.

  • Maximize Your Revenue

Utilizing enhanced AR feature from a professional medical billing company help improve overall financial performance. The clinicians/physicians are offered improved billing services to help practices efficiently submit medical billing, manage AR, improve collections and capture hard-to-collect payer reimbursements – all while allowing you to control how much or how little support you need.

With a comprehensive dashboard you can:

  1. Confidently control A/R days and all your AR relationships with the payers
  2. Make sure that there is efficient billing and collections process
  3. Dashboard reporting for streamlined oversight
  4. Manages onshore and offshore operations while controlling the costs

This will help your practice improve medical coding, compliance, contract management, underpayment and denial recovery, self-pay and insurance follow-up, with access to timely reporting and analytics to better manage your AR.

  • Better Tracking For All Your Claims And More Cash

Medical billing services revert on the decision based on the clinical information stored in AR.  Initially, the entire process consumed a lot of time and required a good amount of follow-up if there were errors found.

With comprehensive dashboards this hassle has completely gone; ensuring the healthcare provider that it’s the right clinical information fed thus; no more time is wasted here.

  • Happy Doctors And Seamless Communications

When the health care providers miss smallest information of the patient can give rise to severe billing confusion. Since; patients are not aware of these entire process, they are certain to get irritated and this might led them to switch doctors. Communicating through improved dashboard by outsourced medical billing providers helps in keeping the AR and other relevant details accurate.

When your doctors want to know the status of A/R, the dashboard tells all. A/R is improved, revenue increases and morale climbs. More efficiency, more revenue, less time and quality work is what physicians can have when they have improved AR through correct dashboards offered by their medical billing experts.

Final Thoughts

A smart, streamlined workflow is essential for any medical practice. A contemporary dashboard delivers a seamless workflow for staff to swiftly move through patient visits, with efficiency from check-in through check-out. When administrative work flows smoothly, providers can focus on the patient in front of them.

Dashboard surfaces relevant patient information when it’s needed most during each visit, including insurance details, payments, demographics etc. Information that is feed in the dashboard, claims go out as cleanly as possible, and take less time to charge.

Posted in Medical Billing, Practice Management | Tagged , , , , , , , , , , , | Leave a comment

Podiatry : A Happy Feeting Trend

Here is an Info graph on some interesting facts about Podiatry… Do check the Info graph & share your comments with us…

Podiatry medical billing

Posted in Infographics, Medical Billing, Podiatry Billing | Tagged , , , , , , , , , , , , | Leave a comment

Do you know how important is HIPAA Training for your Practice?

medical billing and coding

HIPAA has a broad set of training requirements and they are frequently a source of many inquiries as well as disarray. So, the root question that arises here is whom does it apply? What topics must be covered as a part of training? Do the medical billing and coding team require HIPAA training? What number of staff requires training under HIPAA? How regularly should individuals be trained? How long will the training period be? If a doctor’s office is able to distinguish these points of contention, than your facility for sure will be HIPAA compliant.

Logically speaking HIPAA only provides answers to the above mentioned queries. In certain ways, HIPAA gives a clear-cut direction than various laws about what type of training is required. However, it also leaves a lot open to interpretation. And to muddle matters, HIPAA’s Privacy Rule and HIPAA’s Security Rule both have separate training prerequisites.

So, what sorts of organizations must provide HIPAA training?

HIPAA requires that both covered elements and business partners give HIPAA training to individuals from their workforce who handles PHI. This means that even small time physicians need to prepare their faculty on HIPAA. Physicians need to be trained, as well the nurses. Business partners and any of their subcontractors — must have the training and the know-how regarding HIPAA. And last but not the least the accounting staff that looks into medical billing and coding, should be the first members to understand the HIPAA logistics. If they are unsure about the fundamentals, the chances of not getting adequately reimbursed will stand to be a grave issue.

What points must HIPAA privacy training cover?

The HIPAA Privacy Rule states that the training must be “as fundamental and proper for the individuals from the workforce to complete their functions.” HIPAA along these lines doesn’t require that everybody be trained similarly. The Privacy Rule further doesn’t provide clear guidance on the particular points that ought to be canvassed in the training.

Numerous staffers at the doctor’s facility may have functions with a limited involvement with patients or PHI. In the event that a representative is not included in giving notification to patients or in furnishing patients with access to their records, they needn’t bother with preparing on these themes.

 While acting as business associates, employees will once in a while be included with managing patient rights (which are commonly done by covered entities). Their training doesn’t require elaborating points that aren’t applicable for their job requirements.

 HIPAA training goes beyond the conventional guidelines

Many a times, the training is so centered on saying the correct things that it neglects to motivate employees to do the correct things. In many training programs, there is a fixation on ensuring that each possibly important point be said. Because something is said doesn’t mean it is learned.

  • Training must be understood. Information is useless unless individuals comprehend it.
  • Training must be remembered. If individuals don’t recall the training, then what’s the point?
  • Training must be followed and not just grasped.

What documentation must be done with HIPAA training?

 It is vital that all the training one gets regarding HIPAA must be documented with or else it will be like doing homework and neglecting to turn it in. Just as medical billing coding requires the staff to be certified, HIPAA requires that training be documented. In case of an OCR analysis or audit, it is best to produce content of the training as often as possible. You ought to likewise monitor who finished it effectively and the successful completion entailed.

Posted in Medical Billing | Tagged , | Leave a comment

Will Healthcare System Get Affected By Adding Millions of New Internet of Medical Things (IoMT)?

http://www.medicalbillersandcoders.com/blog/wp-content/uploads/IoMT-Impact-On-Health-Care-System.jpg

Unlike other segments, healthcare has been bit conservative and hesitating when it comes to adopting innovative technology such as IoMT and cloud computing. However; with the advent of novel Medical technologies, the scenario is changing. Medical technology has become part of our daily lives, making it harder on the healthcare providers to ignore the possible benefits associated with it.

The new kid on the block – the new term “IoMT” (Internet of Medical Things) are the collection of various medical applications and devices which offers a seamless connectivity within the medical networks.

How IoMT Impact On Health Care System

Relationships between IoMT and medical billing companies seem to be promising one, but not without obstacles. Below mentioned are significant challenges:

Consistency will always remain an issue

  1. When we are discussing health care, consistency surely counts. Of course, with the advent of IoMT in the medical sector doesn’t disapprove of that. And that is where people may find obstacles. For e.g. A hospital could be using varied medical devices from variety of medical vendors which surely raises a question of consistency.
  2. Security will be always a foremost concern especially using medical devices. In fact it was one of the hottest topics at the Systems Society’s Annual Conference. It is obvious to think about security issues as where there are numerous Internet connected devices there will be equal number of entry points connecting into to the data systems.
  3. Mobile reluctance is another great concern when it comes to IoMT. Devices are after all one of those Internet mechanisms but to what and who they are connected counts. If the provider is hesitating or confused when it comes to patient data-handling process, health care companies could suffer or breaches. Some of the health IT departments and physicians have struggled to handle all that data coming in for end number of reasons; it is important to have a data handling training to avoid such errors.

What’s next in for the Healthcare IoMT?

The new health care technology has made it possible to integrate medical applications and devices which are an important part of IoMT now. Now, how much these devices are integrated into the patient care and other facets of the healthcare requires to be witnessed. Below are some of the best highlights of what next is coming:

  • When we use innovative technology; we can assume anything and everything we could think of. “Smart Hospitals” – a smart app or a wearable hi-tech watch that could be built to enhance the patient experience everything from checking in to settling in the hospital/clinic room. Or you can see the doctor calling you ahead of time to let you know before any health calamity happening.
  • Security concerns will be more on rise as the providers continue to explore into the world of mobile health apps, testing them in-house hence the necessity for better data encryption will be always there.
  • Cost obviously will be a major factor role playing when it comes to wearable’s, high-end IoMT devices, app etc.

Final Thoughts

The Internet of Medical Things (IoMT) offers an ecosystem, novel ways to capitalize the value of its data. IoMT-enabled medical devices are important to value based care, not only for their probable role in improving health related outcomes but also for their capability to directly measure the value in medical billing services and healthcare.

To adopt IoMT devices and to achieve end-to-end solutions, hospital administrators, vendors and manufacturers should cooperate to lead better healthcare through this crucial change. With few obstacles which can be always worked out, but the impact can be clearly seen.

Health care companies as well as medical billing providers are creating a concerted culture to embrace this digital technology, and in the next 5- 10 years it will be made compulsory or say it would be a necessity as they will seamlessly manage the patient data to incorporate this into the physician’s workflow billing service.

Posted in Medical Billing, Medical Billing & Coding jobs, Practice Management | Tagged , , , , , , , , , , | Leave a comment

Is Constant Updating Of Skills-Important In Podiatric Medicine and Surgery

Is-Constant-Updating-Of-Skills-Important-In-Podiatric-Medicine-and-Surgery.png

Podiatric medicine like we all know is one of the most sought out branch of medical science dedicated to the diagnosis, prevention and treatment of various foot disorders resulting from diseases or injury.

A Podiatric physician is to the foot to what an ophthalmologist is to the eye and dentist to the mouth -a specialist who has undergone lengthy, thorough study to become qualified to treat a specific part of the body.

A Doctor of Podiatric Medicine makes independent decisions and performs all necessary diagnostic tests. Also, administer medications, performs surgery and prescribes therapy regimens.

Podiatric physicians educated in state-of-the-art techniques involving surgery, orthopedics, dermatology, physical medicine and rehabilitation hence; requires constant up-gradation to be the best in their field.

As A Practicing Podiatric Physician….

Due to sudden increase in the quality and quantity of Podiatric medicine related research in the past decade, the physicians practicing in Podiatric are swamped with insurmountable volume of research related to their practice.

Being Podiatric physician it requires updating yourself on the latest trends in patient management, which keeps you up to date on the newest advances, and provides a sound basis for choosing treatment options.

And above all does the Podiatry medical billing eats most of your time? Are you too much dependent on your employee to bill for your practice? And most importantly you are losing much of money.

As a practicing Podiatric medicine and surgery, it is important to constantly improve on providing patient care. Podiatric medicine and surgery is an ever evolving science that needs consistent up-gradation in skills, along with that we should not forget that healthcare remains prominent.

From a business view point, having a hassle free and efficiently running medical practice let the doctor to focus on patient care better.

It is believed that the benchmark for the collections and billing is a well-run practice of 6 to 8% of the gross income. If you are doing this efficiently, without overloading an employee you are doing all right – or you know why you are here to read ahead about upgrading the skills.

Know About The Associated Costs?

Medical Billers are the most important people you have in your practice that does your collection and billing. These are professionals who draw a decent salary, and it varies depending on the location, experience and expertise.

Rental space is another added cost that shouldn’t be overlooked. Your biller will need a specific space to work. The rental costs depend on where you choose the space, how much is the space etc.

Forms, postage and statements are additional costs that we miss out. Take a monthly survey of the number of insurance forms that you generate out of your practice as well as expenses of postage and to mail them.

How Medical Billing Service Can Provide You The Peace Of Mind?

Your biller can anytime decide to leave you for end number of reasons; maybe because of illness, or a new job, retirement, shifting location, or event disagreement with you.

You are fortunate enough if you have more than 1 employee working on collections and billing. It has been witnessed that more people working particularly in a relatively small area the more it leads to internal conflict.

When 2 or more employees are butting their heads over a vast number of possible conflicts, the patient care and production are bound to suffer.

Podiatric medicine coding is an ever evolving field. The doctor and his billers require upgrading themselves on changing in procedures and billing codes. It is necessary to keep your troubles at bay and also, it will help you to benefit from new opportunities, your bills are error free and the health care service at its best.

To convey at minimum, those who are involved in billing should always include Podiatric physician. He/she should attend at least one podiatric billing course, read coding lines and one of the coding manuals such as billing alerts and Podiatry Medicine Coding.

Outsourcing Is the Perfect Answer

  • Outsourcing your medical billing services may resolve many of your aforementioned problems. Choosing the best Podiatry medical billing company is paramount.
  • Below are few important questions that you can ask to a prospective billing service that help you decide if this is the right one for your practice.
  • What % of the billing services deals with podiatry medicine? Isn’t it necessary to have a service that is exclusive to podiatry medicine? How many podiatric medicine clients do you presently service?
  • What is the suggested time interval between the receiving form and the time that insurance company or patient gets a bill?
  • How the medical billing service does produces encounter slips?
  • What are the service fees? What do they include? Majority of the services charge between 6 to 8 % of the gross money collected.
  • Does the fee include statements, stamps and stationery?
  • Is there a minimum amount for which the company will send a statement?
  • What reports can medical billing and coding services generate?
  • How does the Podiatric doctor access the information on every account? Is the information online available? Is it possible to download the financial information or one has to go to the service’s Web site to access the information?
  • Where are the back-ups kept?
  • Is all of the data on your office computer and does the billing service get online access to your office?

It is known fact that Podiatric Medicine and Surgery requires constant upgradation; consider the above mentioned following factors when you are approaching an outsourced medical billing company.

Posted in Medical Billing, Podiatry Billing | Tagged , , , , , , , , , , , , , , , | Leave a comment

5 Things you don’t know that Medisoft and ChiroTouch EMR software can do for your practice

5-things-you-dont-know-that-medisoft-and-chirotouch-emr-software-can-do-for-your-practiceTechnology is being infused in all industries and the healthcare field is not behind. Be it a solo practice, healthcare centre or a medical billing company, technology is being used avidly. Usage of the right software is aiding in organizing the workflow and making the billing processes more efficient and effective. Though it is recommended to use the software that best fits your needs, two EMR softwares – Medisoft and Chirotouch can make the insurance billing and coding processes a lot more speedy, simpler, and effectual.

Here are 5 ways in which these two software can be of immense use in billing and coding procedures:

Medisoft:

Medisoft is extremely easy to use practice management software which displays an explanation for all the screens available with the help of pop-up windows. It becomes easy for the biller to input the records of the patients submit the insurance claims and successively manage the receivables. The billing and coding team can easily customize the toolbars, search for information while the backups are automatically scheduled. Also, as per HIPAA requirements, if the computer is idle for too long, it automatically logs off users preventing the hacking of records. It also updates the patient chart automatically with a single click.

Medisoft helps in generating a treatment plan for the insurance payment approval, for the patient prior to services being performed; along with informing patients about co-pays and deductibles. Medisoft follows and tracks the visits of patient in the treatment. Also, it keeps track of the payments made by the patient and gives pop-ups for the outstanding payments due. The payments made by patients is automatically matched to the charges billed and in case of non-payments, it is tracked.

Medisoft stocks up to 26 prices for each procedure along with codes as per HIPAA requirements; along with billing information for all types of health insurance. It also provides the facility for checking errors thereby decreasing rejections and enhancing payments.

With the facility of electronic patient statements, it can process and mail statements on time and remind the patient of payments accordingly. Also, with the facility with aging reports, it can track and inform about the past-due payments, if any.

Medisoft can be useful in writing collection letters, and printing patient statements. Medisoft streamlines processes such as: Patient Daysheet in Medisoft can close the day’s accounts accurately and timely; Practice Analysis report can be used for adjusting accounts; and with Patient Referral Report, one can subsequently track and acknowledge referral sources. Appointments can be scheduled automatically with Medisoft. Security levels are assigned in Medisoft to each employee for protection of data. With the help of Contact Log, communication can be maintained and tracked with pharmacies and insurance carriers. In Medisoft Clinical, tools such as templates, dictation, and digital pen can effectively be tailor made as per preferences.

ChiroTouch:

ChiroTouch can be used by solo practitioners as well as hospitals. It is another state of the art practice management software designed especially for chiropractic practice. Appointment scheduling, and patient billing and coding processes become much easier with this software. ChiroTouch allows for customization based on requirements and manages all the patient data at one place. ChiroTouch can run reports and figure out the patients who do not have an appointment, hence schedule it accordingly. Financial reports can be moved into excel format for setting goals for collections. Patients can view their x-rays and bills on the computer and download the details for future references accordingly. It complies with HIPAA standards and provides complete privacy and security. Preloaded forms on ChiroTouch can be customized as per requirements. ChiroTouch also supports the paper and electronic version on HCFA form billing. Reports can be filtered; and with CTScheduler, accurate schedules can be maintained for efficient organization. New MS Word templates can be added as well for effective workflow management.

Medical Billers and Coders use both these software for clinical documentation, practice and patient record management services. This aids in efficient medical billing and coding services ensuring cost-effectiveness, and revenue maximization. Medical Billers and Coders also use these software for simpler accounting of payments (matching of charges to actual payments). The team can create customized claim forms as per insurance regulations. And as codes (ICD, CPT, HCPC) are automatically installed in the software, billers and coders get updated details and can submit claims for automatic and timely reimbursements.

 EMR software can deliver the highest quality of clinical outcomes, along with providing the means to efficiently garner apt revenues.

Posted in EMR / EHR / Health IT | Tagged , , | Leave a comment