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 […]
Being in – network is a good way to grow business for the providers as well as insurance companies. Moreover, even the patients can get benefited with such an association. When a patient is choosing a physician it would do him good to select a provider who is in – network with an insurance company […]
Revenue cycle management is one of the key requirements for improving and properly managing the medical practice collection. Apart from adopting different ways to decrease the accounts receivables days and improving medical practice collection, creating medical billing reports and understanding the general rules pertaining to the process of billing and account receivables are also imperative. […]
Before we start discussing about morals and ethics in healthcare let us get a clear picture of what they actually mean. Even though people use the term morals and ethics interchangeably; both actually have separate meanings. Morals stem out from an individual’s cultural beliefs and teachings. Ethics on the other hand comes from the society […]
According to a survey commissioned by Navicure and conducted by Porter Research in February 2015, 81% of respondents feel that they will be ready by October 1, 2015 (the newly scheduled date of ICD-10) to implement ICD-10. 59% of physicians are concerned about ICD-10 cash flow impact and revenue. With so much concern over ICD-10, […]
This is the age of convenience! With rapidly growing technology, things are now at our finger tips. And when it comes to healthcare, medical billing companies have emerged as a comprehensive, cost-effective and hassle free medium of getting your claims settled. Today, physicians are aware of the fact that to stay in the business, they […]
With a few more months left for the ICD-10 transition, how prepared is your practice for the implementation? According to a survey conducted by Porter Research, approximately 67% respondents were sure that ICD-10 will be implemented on the scheduled date of 1 October 2015. In this blog, we will discuss about how to start ICD-10 […]
Care delivered by Ambulatory Surgical Centers (ASC) is more cost-effective compared to Hospital Outpatient Departments (HOPD) as it saves $2.6 billion a year for Medicare. However, the reimbursement rates for ASCs have been shrinking over the last decade, posing survival challenges for providers. On average, they are reimbursed 58% less compared to a hospital for […]
Growing numbers of primary care practices in the US are realizing the importance of the Patient-Centered Medical Home (PCMH) model. It is helping them efficiently deliver the right amount of care to the right patient at the right time. Through this healthcare setting, primary care physicians have been able to codify and implement care coordination […]
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