The changing healthcare reforms have not only brought major upheaval in the medical financial area but also has caused some changes in the way physicians work too. Long clinic hours, trying to pay off education loans, home mortgages, car loans, vacation loans, tend to make most physicians a bit uptight and pushy, and often brusque […]
Since the Affordable Care Act has been effective, Jan 1, 2015, physician’s payments have been tied to providing higher-value care. Further, practices that cannot attest to meaningful use can face heavy penalties. So how does all this tie with effective practice management? What is involved in practice management? Will technology alone help boost efficiency? In […]
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 […]
Healthcare industry is one of the fastest growing industries in the world, with advanced technology and scientific progress taking place all over the world. It is hence so pertinent that the doctors do what they are best at. However, these physicians are bogged down with a lot other work like documentation, record keeping, insurance follow ups […]
Is your skillset translating into equivalent cash flow? Are you happy with the amount of money you’re making out your practice? Indeed, a question worth pondering over when everything seems alright on the face, but end results differ drastically. Despite your best efforts, customers are paying outside terms. You have limited account receivable details and […]
As an aftermath of the drastic regulatory changes the healthcare industry has undergone in the past couple of years, a large number of physicians and healthcare providers are still trying to find ways to improve their revenue model. Having seen steep downward slopes in their annual revenue lately, many practitioners have been driven into desperation […]
After 25 years of training medical practice staff how to successfully ask patients to pay at the point of service, there are many common excuses that we hear when staff members fail to collect Revenue from Patients. As per the Consumer Financial Protection Bureau (CFPB) report released in December 2014, 43 million citizens have overdue […]
Starting October 1 2015 , it will be mandatory for all the provider’s offices in United States to report their patients’ diagnoses applying the new ICD-10 coding. In other words, there will be a transition from the existing ICD-9 coding to new ICD-10, which is bound to affect the revenue cycle of all physicians, lest […]
Several changes are scheduled for the healthcare industry in 2015. These developments will have an impact on most of the medical practices, affecting the physicians’ incomes in varying degrees. Here are some of the important changes that practices will have to master to succeed in the coming year. 1. Implementation of ICD-10 According to the […]
Most medical practices are losing out on their revenue because of many reasons. Knowing them and getting an idea for boosting revenue can take the medical practice a long way in terms of reputation and quality service. Most medical practices are facing a lot of financial crisis these days owing to the reduced remunerations and […]
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