The need for outsourcing medical billing operations differs from practice to practice. If you feel that the desired financial results are not being achieved by your practice, you need to assess the problems areas and determine if outsourcing or improving in-house billing and coding process will get you back on track. Providers need to understand […]
This is forcing physicians to tighten their operating expenses by making some significant changes at their practice. Since physicians can exercise direct control over operating costs than revenue, it becomes easier for them to ensure savings. By cutting costs, your practice will have enough money for retaining skilled staff and for enhancing patient care. Browse […]
ICD-10 implementation will be having an impact on the IT infrastructure of medical practices. Physicians will have to assess whether or not the new, ICD-10 ready EHR and practice management software versions will run on their existing hardware. For instance, ICD-10 ready software might no longer run on old systems and Windows XP. With less […]
Providers are recommended to write-off small balances as losses rather than investing time and money in retrieving the amount; however, patient payment lapses should not be a common occurrence for medical practices. If you want to get your account receivable in order, it has become important to collect existing balances. This has led to a […]
Transition to ICD-10 will be a lengthy and complex task for providers who are not prepared to meet the challenges. Switching to a new coding system will not only affect different departments within a practice but investment of time and money will also be required for personnel training and system testing before October 2014. Challenges […]
Small medical practices will be facing tremendous pressure once ICD-10 is implemented. Due to lack of sufficient budget and skilled billers and coders, diffusing the burden of a new coding system will certainly make things difficult for them. Why small practices will be worst hit? It is being anticipated that the transition to ICD-10 will […]
Is your practice ready for ICD-10? Resources are being developed by CMS to help healthcare industry implement ICD-10 but if your practice has not yet started prepping, transition to the new coding system will have a major impact on your reimbursement. With little less than a year left before the mandated shift, small or large […]
In many ways, healthcare reforms have opened doors of opportunities for rural hospitals but the changes in healthcare system have also imposed certain challenges. Rural hospitals are not just facing pressure due to rise in cost of care but reduction in reimbursements has also increased their trouble. Challenges affecting rural hospitals: Payment from government is […]
With the introduction of HIPAA 5010 federal mandate and inclusion of ICD-10 standard for electronic billing processing, there is an immediate requirement for skilled manpower to process your Optometric medical billing claims. If accurate billing is not done as per new codes of ICD-10, your Optometric practice can face major revenue losses. Moreover, if proper […]
Compensation surveys in the medical world have seen several specialties dominate, with certain physician specialties becoming more high-paying than others with each passing year. The specialty of Neonatology holds the distinction of having a far greater increase in average compensation which stands at 11.9%. Plastic surgeons finished second, and saw an increase of 8%. Intensivists, […]
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