Healthcare is an evolving industry and the tribulations faced in this volatile industry are immense. There are new diseases being discovered which have to be diagnosed and battled. With technological advancements, it is observed that physicians are spending less time with patients and more on the billing aspect. Hospitals are not paying as high as […]
The fundamental responsibility of a physician is to take care of the patient. He has to keep up with the ever changing healthcare industry and make sure that he can provide solutions to the myriad diseases of the visiting patients. In such a case if billing too becomes one of his duties, the task can […]
Medical practice revenue is based on effective billing. According to a study (2013) by the Practice Profitability Index (PPI) around 36%of the 5000 physicians interviewed foresee negative trends in their profits. Their Report (2014) states that nearly 20% of physician’s time is spent in administrative tasks – coding, documentation, and administration, rather than on patient […]
Putting up your own medical practice! This means you have probably done your research on the pros and cons, and are aware of the benefits and risks factors. The crucial question now is how to deal with the one and only daunting task – Medical Billing. To be able to maintain that balancing act of […]
Medical billing can prove to be quite strenuous when performed in-house. It involves a great deal of resources in terms of labor-intensive and technology. This also incurs a lot of expenditure which rarely is feasible for practices. However, despite this fact, quite a number of physicians express apprehension in outsourcing their billing services for the […]
Do you know what happens when a patient walks in with an injury occurred at the beach or on a tennis court? Add to this the pain of going through billing their insurance. It is not every day that you would bump into a lighting pole or get bitten by a turtle. The new codes […]
Are you among the practices that have outsourced your medical billing services? If yes, you need to ensure that your billing vendor is prepared to help your practice sail through revenue challenges scheduled in 2015. Here are few questions that you need to ask the billing company and assess whether or not they are ready […]
Is the AR follow-up procedure overlooked at your practice? If the answer is yes, your practice bottom line might be at risk. Even if you feel that our accounts receivable is running smoothly, there is a strong need to audit and cleanup AR at regular intervals. This will not only help you maintain a steady […]
We can’t overlook the fact that medical billing is getting complicated, with more stringent rules being implemented on a frequent basis. Healthcare providers are always challenged with the risk of bankruptcy, as they face hurdles in maximizing their revenue due to rejected claims owing to some inaccuracies in the medical coding and claims filing process. […]
Physicians need to ensure AGGRESSIVE management of accounts receivable. Why I emphasized on the term ‘aggressive’ is because AR cleanup can be a daunting & a time-consuming procedure. If billers are not following-up on pending AR vigorously, there are chances the practice will keep losing significant revenue every month. Medical Billers and CodersCatering to more […]
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