The odds of a denied medical claim or reduced payments have increased substantially as insurance companies have tightened the eligibility requirements. The procedure for claims filing has also become complicated. With new codes being introduced every day, it has become important to ensure error-free claims for getting timely payments. Claims denials disrupt the cash flow […]
AR is defined as the medical Accounts Receivables. It is important to keep an account of the medical activities that take place so as to have a hold on the monthly performance of a practice. A successful medical practice needs reports, tables and metrics to make improvements in the health industry. Many a times the […]
A significant element in the field of healthcare financial management is the accounts receivable management (ARM) in medical billing, which is crucial to the success of one’s practice. Accounts receivable basically means the sum owed to a medical practice for the services provided but not yet paid. It indicates the economic health of any business. […]
The medical billing process is a relationship between the healthcare service providers and the insurance companies. This process has undergone tremendous streamlining with the coming of technology but there are still some ongoing issues which can come in the way of a smooth run towards getting paid for their services. Some of the potent issues […]
Significant cuts in reimbursement and rising costs of healthcare provision have posed grave challenges for cardiology practices across the US. Two proposed rules addressing Medicare payment and quality provisions for physicians and hospital outpatient services in 2014 released by CMS will have important ramifications on cardiology professionals. These rules have indicated more than 22% decrease […]
Overhaul of codes, forms, rates and standards: the current year is going to be very eventful for care providers from a billing and coding standpoint. But whether you will emerge through these challenges 11 months later with your revenues stronger or weaker – depends on how well you can prepare your practice to meet the […]
Rising expenses amidst reimbursement cuts is one of the biggest challenges faced by orthopaedists in today’s time. It has not only affected the financial health of practices but it might also lead to restricted care for some patients in future. Billing issues: Decline in reimbursement has affected orthopaedic surgeons and healthcare providers across the US. […]
Medical billing and claim processing is a periodic process that strengthens the financial health of your medical practice. However, it is statistically proven that an average chiropractor loses 15-20% of annual revenue in terms of pending accounts receivables and bad debts. Chiropractic medical billing and settling accounts receivables is a challenge that most chiropractors struggle […]
One of the biggest financial burdens on any medical practice is that of medical audit. Even though it is a necessary evil in the healthcare industry, medical audits setback the financial growth of any practice and initiates change in an otherwise streamlined medical practice. The best way to prepare your chiropractic clinic for a medical […]
Due to variations in health plans, physician performance and rise in healthcare costs, a significant number of practices in the US are implementing pay-for-performance incentive program. P4P started in the private sector but due to growing popularity it crossed over to the public sector as well. Browse All: Medical Billing Services As a tool to […]
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