Many physicians struggle with fee-for-service payer contract negotiations because asking for higher payments can feel like a pointless effort. Negotiating a successful payer contract is possible for those willing to craft a thoughtful, data-driven argument for why they deserve more money. Physicians think it will be really stressful or may not yield any results. Negotiating […]
What is Underpayment in Medical Billing? An underpayment in medical billing refers to a billing situation where practices are expecting higher payments for delivered services while insurance carriers have paid a lesser amount for the same services. Usually, denials arise due to incorrect patient information while underpayments stem from incorrect billing prices. Underpayments are tricky […]
Timely collection of patient payments is equally important as collecting insurance reimbursements. In the past few years as more and more patients are adopting High Deductible Health Plans (HDHPs), patient responsibility has increased exponentially. The most reliable source of patient collections is when they are in the office. So, up-front collection of patient payments at […]
Differentiating Between Medical Necessity and Medical Decision Making Medical coders and physicians often confuse between terms medical necessity and medical decision making and this confusion might lead to an inaccurate selection of Evaluation and Management (E/M) codes. It’s important to understand both concepts and clear the confusion as it could result in denied payments. Any […]
What is ‘Insurance Only’ Billing? As the name suggests, in ‘Insurance Only’ billing, healthcare practices accept the amount the insurance company will pay and waive patient responsibility portions like co-pay, coinsurance, and deductible amounts. In most circumstances, this puts the physicians and the practices in jeopardy, especially when your client base is Medicare patients. Medicare […]
Behavioral health billing is quite challenging as various factors affect the billing process. The length of the session, the approach to therapy, and the willingness of the patient to partake make it far more difficult to standardize treatment and billing. Moreover, how insurance carriers look at behavioral health is noticeably unlike the way they look […]
Forming group practice can be incredibly rewarding, from both a business and a financial standpoint. By starting a group practice, you have the opportunity to create a work atmosphere that allows healthcare providers to thrive, be cared for, and feel good about the work they do. Building, growing, and managing a group practice requires a […]
Basics of Healthcare Audits In the healthcare space, audits play a crucial role in measuring compliance and patient satisfaction. There are two main types of healthcare audits that providers face, internal audits and external audits. External audits can be broken down further into government and commercial insurance audits. From there, government audits can be broken […]
Need for Active Treatment (AT) Modifier The Centers for Medicare & Medicaid Services (CMS) developed the Active Treatment (AT) modifier to define the difference between active treatment and maintenance treatment. Medicare only pays for active/corrective treatment to correct acute or chronic subluxation. Medicare never pays for maintenance therapy. In 2018, the Medicare Fee-for-Service program reported 41 […]
It’s Hard to Sell Your Practice Selling a healthcare practice could be difficult a process. Key challenges in selling your practice include finding the right buyer, wading through legal and financial complications, and handling clinical matters. Coupled with a lack of knowledge about the process, some healthcare providers can be discouraged from selling their practice […]
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