Revised Accounts Receivable Strategy during COVID-19 Pandemic

Almost every medical practice is facing financial uncertainty as a result of the COVID-19 pandemic. A recent report from Practice Pulse states that while any practice’s primary focus is on caring for patients and keeping their staff safe and healthy, providers have expressed growing concern over reduced practice collections and increased accounts receivables. In this […]

Keeping Your Practice Profitable During Pandemic

Maximizing profitability and practice collections is the main objective for successful medical practices. In a time of this pandemic, however, practice profitability became even more critical. Your practice’s profitability depends on a variety of factors that aren’t always under your control, particularly during times of crisis. But rather than looking at this pandemic situation as […]

Increasing Patient Payment Collections in 5 Steps

Most of the practice owners work really hard to understand payer billing and coding guidelines and reimbursement policies. Their intention is to receive accurate insurance reimbursements on time from private as well as government payers. But while making such strategies they miss on the prominent payer i.e., their patients. You will be surprised to know […]

Comprehensive Approach for Denial Management

Denied claims offer lots of challenges for any practice owner. Your billing staff is already busy verifying patient and insurance data and trying to submit clean claims. And when claims are denied, they have to work on these denied claims once again from the start. Ideally, when you submit 100 claims, not more than 10 […]

Reducing Medical Billing Staff Burnout

According to MGMA’s (Medical Group Management Association) report, amongst the COVID-19 pandemic, burnout among medical billing staff becomes an overwhelming problem. MGMA reported a combined 30% turnover rate specifically among front office and operational staff, the highest of any other healthcare career category. Continuously changing payer policies and reimbursement guidelines put additional pressure on medical […]

Proposed Changes to Shared Visit Billing

Basics of Shared Visit Nurse practitioners (NPs) or physician assistants/physician associates (PAs) and physicians sometimes ‘share; patient visits. A shared visit which is also called a split visit is one where both types of clinicians participate in evaluating and managing a patient on a given day. The Centers for Medicare & Medicaid Services (CMS) defined […]

Basics of Value-Based Contract (VBC)

Defining Value-Based Contract (VBC) A value-based contract (VBC) is a written contractual arrangement between parties in which the payment for health care goods and services is tied to predetermined, mutually agreed upon terms that are based on clinical circumstances, patient outcomes, and other specified measures of the appropriateness and effectiveness of the services rendered. In […]

5 Inefficiencies in Radiology Billing and Coding

Most radiology practices are currently feeling the pinch of deep reduction in imaging revenue and decreased volume. Based on an analysis of the change in imaging volume from Yale’s academic multi-specialty radiology practice, the group saw a 70 percent dip in outpatient imaging since the start of the COVID-19 crisis, including a 50 percent drop […]

Billing Codes for Psychiatric Collaborative Care Management

Understanding billing codes for psychiatric collaborative care management is crucial for healthcare providers offering mental health services. These codes help ensure proper reimbursement for the collaborative care provided to patients. By accurately using these codes, healthcare providers can effectively communicate the services rendered and receive appropriate compensation for their valuable contributions to mental health care. […]

3 Signs that Show Need of Outsourcing Revenue Cycle Functions

Healthcare providers are under increasing pressure as more and more patients are shifting to value-based care. Providers are already under pressure as they have to deal with declining reimbursements, higher risks, and tighter margins while improving patient care. Due to this, hospitals and physician practices of all sizes are being forced to re-examine their revenue cycle […]

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