In the US, providers are struggling daily basis with healthcare frauds. These frauds generally cost the healthcare industry 3 to 15 percent of the total expenditure in the United States hence healthcare fraud and abuse must be critical. What are healthcare fraud and abuse? Generally, fraud and abuse are referred to describe a range of […]
The physician or other qualified healthcare professional are using CPT codes from the range 99202-99499 which is called Evaluation and management (E/M) codes to represent services offered by physicians. These codes are applicable while evaluating and managing patient health. These (E/M) codes have been around for many years still reporting timed-based services is confusing. So let’s […]
Ambulatory Surgical Centers brought a revolution in surgical care, enabling affordable, safe outpatient surgery. Moreover, the ASC industry is ahead of the curve in identifying avenues to improve health care delivery. ASCs are a rare example of a successful transformation in healthcare delivery. Hence, stakeholders must understand ASCs and their benefits and growth factors: For […]
The account receivable turnover ratio is referred as an important financial ratio to indicate the Ability of the company to collect its accounts receivable. When you are setting a benchmark to accelerate receipt of payment for services and then improve the processes to support the goal; you should consider the account receivable turnover ratio as […]
COVID-19 affected the healthcare system badly in 2020 hence there is an immense opportunity for the payers and stakeholder collaborators to rebuild the healthcare system into a more effective and consumer-centric system in 2021. Virtual care is a broad term and it comprises various ways that healthcare providers are using remotely interact with their patients. […]
Globally it is observed that patient compliance consists a multidimensional and complex health issue. Approximately 50% of patients do not take their medications as prescribed. They don’t follow instructions for the timing, dosage, and frequency of their medications which comprise the health of the patients. Hence it is necessary to understand the importance of patient […]
The Healthcare Insurance Portability and Accountability Act (HIPAA) plays a critical role in healthcare organizations and the main objective of (HIPAA) is to improve the efficiency and effectiveness of the health care system. HIPAA regulations were mainstream in 2020 due to COVID-19 testing, status, transmission, and care. HIPAA the act was signed into law in 1996 […]
Current Procedural Terminology codes are a set of codes published and maintained by the American Medical Association (AMA) for chiropractors and chiropractic billing specialists. Mistakes such as incorrect chiropractic CPT codes can lead to claim rejections and delays in payments and put your practice at risk for failure. Hence to avoid errors you should consider […]
The recent COVID-19 pandemic has accelerated claim denials from payers. According to a recent analysis, the average rate of claim denial is increasing by 23 percent in 2020 compared to four years ago. Faults related to missing or invalid claim data, which included unspecified billing issues, missing or invalid explanation of benefits, and service not […]
It is found that nearly 70% of Independent Physicians specialize in a certain aspect of healthcare and that the specialized nature of their practice within the local healthcare community enables them to remain independent. However, reimbursement of physicians working for a hospital or health system is significantly higher than that paid to independent physicians. According […]
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