As you know, there are various life insurance services available in the world—however, some people are still confused about the significance of life insurance in their lives. In the UK, citizens know about its importance; in fact, two out of three people have life insurance coverage there, according to the Association of British Insurers Even […]
Number of claims denied in the healthcare industry is a mystery. Claims are getting denied due to various reasons, and moreover the graph is showing an upward movement. It has been observed that most denials are in excess of 20%. As per a recent survey in Georgia, the table below depicts percentage of denials by […]
Accurate coding is vital for all medical practices as it is the main source of reimbursement. It not only reduces claim denials and increases revenue; but also plays a significant role in insurance assessments. Coding is an irreversible process that decides whether or not your practice will get paid for the services offered. Error-free coding […]
OBGYN promises to be a holistic solution to the challenge of pregnancy bringing together obstetricians (specializing in pregnancy) and gynecologists (dealing with reproductive organs), thus ensuring a close coordination and synchrony between the two. But, thanks to this combination, some of the challenges OBGYN poses are unique. Pregnancy is fraught with unforeseeable eventualities and gynecology […]
Documentation takes up approximately one-third of a physician’s workday. With the implementation of healthcare reforms, HIPAA requirements and preparation for ICD-10, physicians are buried into piles of charts and billing forms, ending up with limited time for patient care. The next generation HIPAA transaction standards (5010) have increased documentation challenges for physicians. The HIPAA Security […]
The medical billing process requires constant updating and understanding of regulatory changes. If you are managing it alone you need to rethink, as without much government support chances are your revenue may suffer due to time constraints. Additionally your practice-staff needs to be well trained and equipped to be able to handle with ease all […]
Hospitals, in the US, are facing considerable challenges in the wake of innovative payment models. Innovative payment models are four different types of payment modules which apply to various phases of treatment episode and involve payment to the provider in the form of bundled payments. To understand how these models work, it would be helpful […]
Numerous US clinics profitability ratios have been depicting a downward trend and according to a recent physician survey, two thirds of the participants predict low profitability for the year ahead. This is not a positive scenario, and to change it first we have to consider the factors which are affecting the profitability of these clinics. […]
Hospitals, physicians and other care providers require being paid in a more systematic manner to help enhance quality of healthcare that too at a low cost. The current fee-for-service system in the US through which physicians are paid has been considered a major reason for escalating costs in the healthcare system. Under this system, physicians […]
Healthcare organizations need to ensure PHI (Protected health information) privacy if they want to avoid steep penalties. After the HIPAA Omnibus Final Rule was published in January this year, a final deadline has been set for practices to keep PHI secure and confidential. In case healthcare providers fail to comply with the new requirements, the […]
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