The number of days a physician’s takes to collect their receivables is a good indicator of how well the physician’s clinic is collecting its accounts receivables. Industry standards state that organizations which were considered as “better-performing medical practices” – excelled in four performance management categories, one of which were Accounts Receivable and Collections. Depicting that […]
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How aging reports aid in realizing Account Receivables
Notwithstanding the importance of flawless coding in maximizing healthcare insurance reimbursements from insurance carriers, it is the Account Receivable Management (A/R Management) that proves decisive in either making or breaking your chances of mitigating denial or delay of your medical bill claims. Most of the physicians, whose primary focus happens to be quality medical care […]
Alleviating the Time Factor in Evaluating Revenue Generation from Medical Claims
“While physicians would not mind investing in revenue optimizing systems, asking them to invest their invaluable time in something which is non-core to their medical efficiency could ultimately have an adverse impact on their efficiency for medical care. Therefore, there seems to be a considerable propensity to outsource Medical Billing Management” The rapid healthcare reforms […]
Revenue Cycle Management – Prescription for Optimum Medical Claim Realization
“Despite such volatile environment, physicians have to find means to realize their each and every dollar owed them as their very sustenance and growth hinges on efficient reimbursement of medical bills” Unlike other professional services that realize their professional fees instantly, without having to rely on a third party (insurance carriers), physicians have to go […]
Redefining the Role of Billers and Coders in the Wake of Ensuing Accountable Care Organization (ACO) Act
Amongst the many farsighted health reforms that the Patient Protection and Affordable Care Act of 2010 (PPACA) has floated is the concept of Accountable Care Organization (ACO). Believed to be a cost-controlling measure on public health expenditure, ACO is a health care model that ensures healthcare providers incentives from the savings made on a pre-assigned […]