As the healthcare expenditure in the United States is skyrocketing with every passing year, so is the number of Americans getting themselves covered under health insurance policies. These health insurance policies regulated by the federal government keep evolving with the situation and the ever so evolving needs. While these healthcare reforms have a profound impact … Read moreMEDICARE 2019: IMPACT ON BILLING AND CODING
“If patients don’t know the cost of care and cannot see costs across providers they can’t seek the lowest cost as they can in any other industry,” Verma said in a phone call with reporters. “The lack of price transparency has resulted in a system that doesn’t allow patients to make value-based decisions based on … Read moreHealthcare Billing Transparency
Yes, hospital, clinics, doctors, healthcare professionals are responsible for keeping people in pink of their health, but they also need money to keep their medical practice financially healthy. This is where healthcare revenue management comes into the picture. Medical/healthcare revenue cycle management is a crucial element of medical service providers which is responsible to efficiently … Read moreMEDICAL RCM: AT A GLANCE
Ever-changing healthcare technology has a significant impact not only on enriching patients experience but also on how healthcare practices process. From the invention of stethoscope and anesthesia in the early 1800s, the journey of healthcare technology has been nothing short of amazing. Digitization has played a pivotal role in mitigating the roadblocks for an efficient … Read moreDIGITAL DISRUPTION IN HEALTHCARE
A minor error in medical transcription can cost a healthcare practice a fortune or even a possible lawsuit in case the documentation is severely flawed which is why outsourcing a medical transcription service from a credible billing and coding company like Medphine is a preferred choice by all healthcare providers. Not only this ensures accuracy … Read moreFATAL MEDICAL TRANSCRIPTIONS FALLACIES
“Practicing value-based care works to address the nation’s chronic disease epidemic by giving physicians the support and data they need to focus more on prevention and reduce acute care episodes,” Roy A. Beveridge, MD, Humana’s chief medical officer, said in a statement. “This model allows physicians to focus time and energy on those patients who … Read moreVALUE-BASED CARE AND RCM
Escalating Account Receivables days? Delay in insurance payment? The aforementioned statement is enough to give a healthcare practice’s operator sleepless nights. Optimizing account receivables is crucial to keep the healthcare facility running in a stable condition. Streamlined AR results in fast track claim reimbursement with its timely follow-up, comprehensive denial management to contribute to an … Read moreIMPROVE PRACTICE’S A-R MANAGEMENT
A: I will never recommend that medical practice, even to my nemesis? B: Why so? A: They have a pathetic front-desk staff? No etiquettes, disorganized and sheer wastage of time, visiting that hospital. And there goes all your hard-work straight in the drain. You know how they say, “first impression matters”? This is apt … Read moreENHANCE YOUR PRACTICE’S FRONT-DESK EFFICIENCY
150 billion! Yes, that is how much healthcare systems of the United State lose because of patient no-shows, in a year. Setting up, operating and maintaining healthcare organization is expensive. What adds to the staggering expense and has an adverse impact on the revenue generated is the frustrating habit of the patient not showing without … Read moreHow Patient No-Show Affects RCM?
Yes, setting up a medical practice is time and cost-extensive but that is not the end of it. How are you going to survive the health care competition without continuously working towards improving the practice management? It takes diligence and exceptional administration skills to operate a successful and efficient practice. Take note of these strategies … Read moreImprove Medical Practice Management