Transition to ICD-10 will be a lengthy and complex task for providers who are not prepared to meet the challenges. Switching to a new coding system will not only affect different departments within a practice but investment of time and money will also be required for personnel training and system testing before October 2014. Challenges […]
Claim denials are experienced by every medical practice; however, the percentage varies on the basis of how effectively medical billing tasks are handled. Providers can bring down denial rates below 5% if they invest time and money in improving their billing performance. It will not just improve their revenue cycle and increase their cash flow […]
In case of claim denials, every medical practice goes through the time-consuming procedure of dealing with a health insurer. Claim denials create a cash flow problem for practices due to which it becomes essential for providers to minimize delays and denials. Simplifying the appeal process: Physicians should appeal a denied claim even if it is […]
Modern healthcare challenges have become so numerous and daunting that they leave healthcare organizations in a constant state of flux. Take the challenges posed by new technologies used to perform various procedures involved in treatment episodes. Each time a new diagnostic tool arrives, healthcare organizations have to both acquire and adapt to it. Both have […]
Dental medicine has been suffering from the far reaching effects of the economic meltdown. Dental benefits are the first ones to be revoked by employers and people refrain from buying dental insurance at the time of financial crisis. Even though more than 55% of the U.S. population is enrolled for some kind of dental benefit […]
Small medical practices will be facing tremendous pressure once ICD-10 is implemented. Due to lack of sufficient budget and skilled billers and coders, diffusing the burden of a new coding system will certainly make things difficult for them. Why small practices will be worst hit? It is being anticipated that the transition to ICD-10 will […]
Healthcare reforms have not only increased workload but also forced physicians to concentrate on quality patient care. This leaves them with less or no time to handle the medical billing procedure. When compared to maintaining a regular in-house billing system, outsourcing is more beneficial in boosting efficiency and cash flow of medical practices. From increasing […]
In many ways, healthcare reforms have opened doors of opportunities for rural hospitals but the changes in healthcare system have also imposed certain challenges. Rural hospitals are not just facing pressure due to rise in cost of care but reduction in reimbursements has also increased their trouble. Challenges affecting rural hospitals: Payment from government is […]
Some women will wait until they are over 40 years of age to begin thinking about having children. This happens because they become busy with careers and relationships. They seem to forget that the odds of getting pregnant later in life are lower than when they were younger. Women who wait later in life to […]
Medical billing helps reduce claim denials thus minimising losses that arise due to late payments and manual errors. Since medical billing is a complex procedure; adhering to stringent rules and procedures and also keeping up to date with the current regulations is mandatory. It also means educating your staff and keeping check of the ongoing […]
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