How to Boost A/R Productivity for Success of Revenue Cycle during Pandemic?

Are you thinking that revenue flow is interrupted due to high accounts receivable? Of course, you need to boost A/R productivity for the Success of Revenue Cycle but you aren’t the only healthcare professional to face revenue loss but you can make a difference particularly during the pandemic. Insurance companies are obliged to pay healthcare […]

What Is The Prior Authorization Process?

The prior authorization process is seeking “approval from a health plan that may be required before you get a service or fill a prescription for the service or prescription to be covered by your plan”. What is Authorization in Medical Billing? Authorization in medical billing refers to the process of obtaining approval from a patient’s health […]

Efficient RCM Process is the Key to Provider Success in 2021

To overcome the financial impact of pandemic, providers need to measure and focus on an efficient RCM process to get success in 2021. COVID-19 pandemic has a severe impact on the healthcare industry, caused healthcare providers to depend on efficient RCM process to maintain financial stability in 2021 and henceforth. What is RCM Process? Revenue […]

Value-Based Care Vs Fee-for-Service

As healthcare regulations change, so do healthcare provider reimbursement models. Understanding different forms of reimbursement and their advantages and disadvantages can help you better figure out your healthcare organization’s revenue cycle management. The two main models between which the American healthcare network has been fluctuating are fee-for-service (FFS) and value-based care (VBC). Fee-For-Service In the […]

Uninsured COVID-19 Patients with Limited Reimbursement

According to a recent report from the Kaiser Family Foundation (KFF), a program intended to balance the costs of uninsured COVID-19 patients during the coronavirus emergency has paid out limited reimbursement to providers. The Trump Administration announced the COVID-19 treatment reimbursement program for uninsured patients in April 2020. The program has been in place from […]

Use of Modifiers 54, 55, and 56

Using Modifiers, the service or procedure can be altered by some specific conditions but has not been changed in definition or code. The intention of modifiers is to give more specific information about a specific procedure or service that is not already contained in the code definition itself. MBC is sharing more information on Use […]

Effective Cost-of-Care Conversations with Patients

Patients face significant financial side impact from their care when their out-of-pocket cost is high. To release the financial burden of patients, providers have to keep proactive communication and engagement with patients. Out-of-pocket costs such as high-deductible health plans have expanded over the past 10 years. In CY 2018, almost 29% of patients with private […]

How to keep your independent practice strong during COVID-19?

The economic fallout of COVID-19 may accelerate acquisitions of independent practices unless practice leaders consider new, but not necessarily novel, ways of doing business. “The jury is out, but COVID is probably going to exacerbate larger systems buying up independent practices because a lot of folks just aren’t going to be able to weather the […]

Strategies to Advance Value-Based Care

Health insurers are struggling to get success in an Advance Value-Based Care reimbursement model. This may benefit from population health management, patient engagement, and healthcare delivery reform. When payers started to transition to value-based care reimbursement from the traditional fee-for-service payment system, some healthcare executives and financial experts might find that it takes longer than […]

Optimize Patient Payment Collections during Pandemic

Improving your patient payment collection during a pandemic should be your top priority in your financial plan this year. You may think why to focus on patient collection, because with half of the employers pushing high deductibles plans onto workers. Patients are facing bigger medical bills, one they never prepared to pay. If patients deny […]

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Revenue Cycle Management (RCM)