After 25 years of training medical practice staff how to successfully ask patients to pay at the point of service, there are many common excuses that we hear when staff members fail to collect Revenue from Patients. As per the Consumer Financial Protection Bureau (CFPB) report released in December 2014, 43 million citizens have overdue […]
Outsourcing has helped oncology practices in Ohio streamline their business functions, reduce billing errors and ensure timely payments. It has helped minimize the hands-on workload of oncologists, reducing billing challenges and generating more revenue. Medical billing is one of the most overwhelming problems for medical specialties including oncology. By seeking expert assistance from a third […]
Are your billers trained in collecting receivables? Does your practice collect insurance and patient balances efficiently? These are some of the important questions every physician should have an answer to. According to research conducted by the Medical Group Management Association, better performing practices generate more revenue, create operational efficiencies, ensure provider productivity and collect receivables […]
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 […]
Running an in-house billing department has various advantages for medical billing in Texas. Physicians can have complete control over their revenue cycle management (RCM), allowing them to closely monitor daily billing operations, implement changes quickly, and address issues in real-time. Providers in Texas can also exercise more control over their accounts receivable (AR) through in-house […]
Claims filing differs in case of different insurance carriers. Each insurance carrier has a time frame to adhere to. It can be as less as 30 days or as long as two years. If this time limit is not maintained, chances are that the claim may be denied for reasons of untimely filing. At times […]
Scores of patients used to crowd healthcare facilities, especially the OPDs, creating a lot of chaos and confusion for the healthcare personnel and administrative staff. However, thanks to the efforts of consultants besides a host of other factors such as automation, new time management techniques and tools, well trained staff, etc., the scenario of practices […]
In today’s times medical billing software is an important part of every medical practice because they help control the cash flow, which is the lifeline of the practice. A good medical billing software helps to streamline claims submission, provides good reporting modules to manage the cash flow and in turn speed up the payment time. […]
A significant element in the field of healthcare financial management is the accounts receivable management (ARM) in medical billing, which is crucial to the success of one’s practice. Accounts receivable basically means the sum owed to a medical practice for the services provided but not yet paid. It indicates the economic health of any business. […]
The healthcare industry, as any other sphere of business, is also fraught with new challenges that come to the fore each day. This brings about tremendous pressure for the health care personnel involved and a CFO also goes under the knife at such times in terms of dealing with operational, regulatory as well as strategic […]
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