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 […]
Today, the majority of deaths worldwide are due to four noncommunicable diseases such as cancer, cardiovascular disease, type 2 diabetes, and respiratory diseases; most of these deaths are potentially preventable. Four sets of behaviors contribute to the high and growing burden of noncommunicable disease: consumption of tobacco, alcohol, and highly processed foods, as well as […]
In the rapidly changing healthcare landscape, payers are asking medical providers to shift from volume-based care; the fee for service to a value-based reimbursement structure. This evolution toward value-based reimbursement benefits the patient, the healthcare provider as well as the payers. Value-based reimbursement encourages healthcare providers to deliver the best care at the lowest cost. […]
Not to be confused with traditional ideas of patient care, patient-centered care pushes the boundary of healthcare to create systems and processes that are truly custom-made to enhance the health, well being, and treatment plans for both health professionals and patients. Recently, the Mountain State Healthcare Alliance (MSHA) received the 2012 National Healthcare Award from […]
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It has become imperative in this ever-changing healthcare environment to focus on a medical billing practice’s financial health. In the case of small and medium-sized practices, ancillary services are added, but the best way to increase revenue is by focusing on efficiency. Some Billing Suggestions For Medium-Sized Practices Are: Patient Collections: This must be a […]
Dental medicine is often seen as a highly profitable healthcare stream with guaranteed long term returns. However, what most people fail to understand is the amount of complex planning and execution that goes into acquiring and maintaining that sustained level of profitability. Dental reimbursement rates are generally poorer than medical reimbursement rates. Given that, ensuring […]
Providers place patient balances in the hands of a collection agency when the situation grows out of control. However, opting for debt professionals is not always the best option for a medical practice to retrieve payments. There are ways with which seeking help from outside collection agencies can be avoided without causing harm to cash […]
Insurance underpayments continues to be a major concern for medical practices across the United States; more so for orthopedic surgeons, who, despite serving in a more critical specialty, find it hard to fully recover their medical cost. Because most of the orthopedic procedures happen to be highly expensive, even a marginal percentage of insurance underpayments […]
Physicians’ choice of health plans and contracts seem to be getting fewer and fewer with each passing moment as U.S. health insurance sector, particularly the private sector, witnesses unprecedented payer consolidation, acquisitions, and mergers amongst private health insurance carriers. Besides contradicting the hope that such consolidation, acquisitions, and mergers would bring down the cost premiums […]