Orthopedic coders need to keep up pace with the coding changes. Even a small coding error can lead to a potential fraud and result in a claim denial. There is a strong need to minimize the time being spent on combating coding issues. Providers need to place more focus on boosting their practice’s revenue, reducing […]
Information technology is playing a major role in every field and the government is taking pains to extend its role into the healthcare sector as well. They have chalked out various policies and spent billions of dollars in the form of Medicaid and Medicare health programs so that healthcare information technology (HIT) is used widely. […]
The healthcare industry has seen a number of changes in the recent past. Most of these changes have affected the reimbursements and revenue cycle of medical practices. While the insurance programs have started reducing the reimbursements for physicians, third party payers charge a negotiated fee-for-service. These factors result in reimbursements less than 100% of the […]
There is a tremendous increase in the number of people seeking medical attention. The reasons behind this range from an increase in life span over the years to an increase in the number of diseases. This increase in medical services has thrown light on a very important aspect – the medical coding and billing process. […]
Timely payments and accuracy in billing are the two main factors that determine the financial strength of a urology practice. Considering the rise in billing complexities and increased healthcare costs, it has become important for urology practices to decide between outsourcing and investing in billing software. Industry Facts According to the American Association for Accreditation […]
Medical Billing errors lead to denied or delayed payments. If the mistakes are not caught ahead of time, it can lead to costly fines and loss of revenue for medical practices. Common Medical Billing Errors occurred due to billing complexities and inexperienced medical professionals. According to a survey, approximately eight in ten medical bills issued […]
More patients mean more money but many practices are still not prepared for handling the patient influx caused by the Affordable Care Act. Due to the lack of skilled front-desk staff and physicians, providers have become uncertain about the future of their business. The shortage of skilled resources has put pressure on an already-taxed healthcare […]
The odds of a denied medical claim or reduced payments have increased substantially as insurance companies have tightened the eligibility requirements. The procedure for claims filing has also become complicated. With new codes being introduced every day, it has become important to ensure error-free claims for getting timely payments. Claims denials disrupt the cash flow […]
Medical Billing specialists play a vital part in preventing the US healthcare administrative system from falling apart. Their astuteness in creating detailed billing records and efficiently coded invoices ensure that the business side of healthcare does not hamper the medical attention that patients need. The contribution of these specialists goes a long way in helping […]
Medical coding errors lead to denied or delayed payments. Practices also lose significant time in tracking the source of the mistake. Since practices generate majority of their revenue through submission of CPT and ICD-9 codes to third party payers, physicians cannot afford to miss revenue opportunities due to coding errors.
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