Family Practice’s Financial Challenges Image Source Owning and operating a family practice can be financially challenging. Major reasons for such financial challenge includes, declining reimbursements, increasing overhead costs, unpaid patient balances, staffing costs, regulatory compliance costs and many other costs incurred during the day-to-day operations of family practice. To ensure family practice’s financial sustainability, practice […]
Outsourcing Family Practice Billing can Ensure Financial Sustainability
Read More.. Outsourcing Family Practice Billing can Ensure Financial Sustainability
Maintaining Financial Health of Your Family Practice
Rising operational costs, changed payer policies, decreasing reimbursement, and increased compliances adversely affect the financial health of the family practice. In addition, operational inefficiencies and waste cut even deeper into profits and income. The presence of a certain amount of each factor is inherent in any family practice. In this blog, we shared ways your […]
What are the Most Common Family Practice CPT Codes?
The year 2020 began with many significant billing and coding updates for family physicians. A study found that Family physicians could not bill for all the services provided in the majority of their visits because CPT codes for medical billing did not cover the services, a study found. Family practice medical billing services ensure that […]
Maximizing Family Practice Revenue by Implementing These Strategies
Since family practices are facing a lot of factors that make it more difficult to get paid, it’s more important than ever to get proactive about billing procedures. Being proactive and preventing problems before they occur can help your family practice maximize revenue, ensuring you’re properly reimbursed so your practice can continue providing quality care […]
Family Practice: Boost Your Revenue With Minimal Efforts
Overview of Family Practice There are not a lot of us who believe that family practice physicians are adequately paid for the kind of valued care they deliver to patients and to the health care system. As an established medical billing and coding organization, we regularly observe how desperately clinicians need primary care payment reform. […]
Revenue Cycle Management (RCM) Tips To Shorten The Claim Length
Revenue cycle management (RCM) is the commercial process that uses medical billing software, which healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. In simple terms, it refers to the process of tracking the payments for the services rendered at a provider’s office, from […]
Family Practice Billing: Things To Lookout For In 2020
Like other healthcare specialties, family practice billing also depends upon apposite and timely documentation and communication with patients and insurance payers. The doctor’s office starts the process by serving a patient and documenting the normal SOAP notes. Next, the medical coder translates the visit into the appropriate numerical codes that allow for easier communication with […]
Reduce no shows in your Family practice and increase revenue
Physicians consider it unprofessional when their patients do not show up at the appointed time. No-shows tell upon the revenue, wasting not just the physician’s time but also that of the supporting staff. In order to overcome this issue physicians adopt methods like overbooking patient appointments, treating alternative patients, contacting the patient who did not […]
5 Common Mistakes Physicians Commit with their Family Practice Billing
The family practices medical service is all-encompassing and involves more than one field of medicine. Ideally, medical billers who work for family practice need to have extensive knowledge of diagnosis and procedure codes commonly used by the physician. This ensures that patients and insurance companies are billed correctly. It also guarantees that the physician receives […]
5 Tips about Family Practice to Improve Revenue Instantly
In today’s competitive healthcare space, as you’re dealing with crushing administrative burdens and rising operating costs, you need every tool at your disposal to keep your practice profitable. Here we explained 5 essential tips about Family Practice to improve revenue instantly. Tips about Family Practice to Improve Revenue instantly 1. Reduce Administrative Burdens Around 50% […]