The need for outsourcing medical billing operations differs from practice to practice. If you feel that the desired financial results are not being achieved by your practice, you need to assess the problems areas and determine if outsourcing or improving in-house billing and coding process will get you back on track. Providers need to understand […]
Denial tracking and payment posting are time consuming yet fundamental features of the revenue cycle management (RCM). Successful implementation of these processes can have a major impact on efficiency, patient satisfaction and financial performance of your medical practice. Therefore, there is a strong need to automate and streamline the procedure of payment posting and denial […]
In the last five to ten years reimbursement for medical practices has been impacted by various changes in the healthcare industry. These changes include HIPPA tightening their requirements for data submission, upcoming ICD-10 final implementation date coming closer, amongst various others- which have a direct impact on medical documentation and hence on the medical practice’s […]
Medical Practices lose approximately 20-30% of their income due to errors made by the internal billing department, as deduced from various studies. If your billing functions including coding, denial follow ups, collection of patient receivables, staffing and accurate charge entries are not done properly, you will end up losing thousands of dollars on a yearly […]
Affordable Care Act is the upcoming revolution, expected to change the face of the healthcare industry in the years to come. It will not only extend quality care to patients but also improve the way medical services are administered by healthcare practitioners on the whole. Financial advantages of the ACA are hard to ignore and […]
Efficient medical billing practices can strengthen the financial backbone of a family practice and allow family practitioners to focus on the service aspect of their practice. However, in a constantly evolving healthcare industry the need to Update Medical Billing at regular intervals becomes absolutely indispensable. It goes without saying that the year 2013 will see […]
Despite the delay in implementation of 26.5 percent cut in Medicare family practitioners payment, AAFP continues to call on Congress for a repeal of the sustainable growth rate (SGR) formula. This is understandable because the deferment means a temporal relief for family practitioners and if SGR is around, given that it assesses growth solely from […]
As a specialized healthcare field, Cardiology has cherished generous government support for testing services and unhindered reimbursements. However, with new developments in Patient Protection and Affordable Care Act (PPACA) and lower reimbursements given recent healthcare reforms, Cardiology billing is expected to face some serious issues in 2013. In addition, ICD -10 and HIPAA regulations are […]
Medical record auditing is undergoing changes and this has made even the most prepared physicians nervous. Quality of care and services offered by a medical practice is determined by the thoroughness of clinical documentation and medical records maintained by the practice. Therefore, for every Cardiologist, already facing the recent revision to cardiology fee schedule besides […]
In 2010, Medicare improper payment amounted to $47.9 billion. Human and Health Services, in 2011, recovered $4.1 billion paid through reimbursements as a result of ‘fraudulent’ or ‘improper’ claims. You may be right if you think you won’t ever be among the fraudulent care practitioners who contributed to these figures because you are scrupulous. But […]
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