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 […]
Based on the credible estimates by Medical Group Management Association (MGMA), practitioners fail to collect as much as 25% of their accounts receivables on an average, owing to a host of reasons, particularly the various complicated rules of the Insurance Companies. The rules that have turned complicated with time often lead to high risk of […]
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 […]
As per a reliable study that addresses the impact of hospital services on consumers, as many as 79% of the patients were found to be dissatisfied with the hospital’s billing services. It had been further construed that with various reforms in health care and technological evolution in the industry, the user-level experience of medical billing […]
2015 is all set to bring more healthcare challenges and fewer income opportunities for the provider’s office. Rising drug prices, time consuming regulatory obligations, an aging population requiring high-value care and skyrocketing medical technology costs are, in fact, mere curtain raisers. The real grim picture lies behind the many hassles the provider’s office is posed […]
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.
To quote Shakespeare in the healthcare parlance; “to outsource or not to outsource” is the question that robs providers of their sleep. In all honesty, most providers are slowly outsourcing medical billing to experts; so much so that outsourced medical billing service providers are opening shops like the mom-and-pop shops we see all around. It […]
Many cardiology practices across the US are continuing to struggle with the regulatory changes, declining reimbursements, and increasing healthcare costs. It is becoming difficult for them to run a profitable business in an unstable environment. According to industry experts, small and medium practices will have to start monitoring and focusing on their revenue cycle to […]
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