Reading Time: 3 minutes Managed care brought about so much more administrative work to the healthcare industry than there had ever been before. To make it even more complicated each insurance company has a different set of rules and guidelines that must be followed. What if a patient needs to see a specialist? Or needs to have a procedure […]
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Reading Time: 4 minutes Medical claims denials will happen. But how many denials are you getting per month? More than 10%? More than 20%? Not sure? A recent Healthcare Information and Management Systems Society (HIMSS) survey shows that 3 out of 4 (76%) of healthcare leaders say denials are their greatest challenge. And other research shows that 90% of […]
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Reading Time: 4 minutes Do you have insight into your practice’s financial health? Do you know how much of your accounts receivable is older than 60, 90, or even 120 days? MGMA recommends that less than 14% of your A/R should be 90+ days old. They also show that 60 percent of the amount owed by patients is never […]
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Reading Time: 4 minutes Are you struggling with outstanding account receivables? Did you know that research shows practices only collect about 12% of outstanding balances at the time of service and collect nothing approximately 67% of the time? Also, it has been shown that the higher the outstanding balance, the less monies are collected. For example, about 40% of […]
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Reading Time: 4 minutes In-house Medical Billing Initially, physician’s offices had a person in-house that handled everything having to do with billing for the practice. This person added to the overhead of the office – about 10 – 12% and handled everything from A-Z in the billing process. General knowledge of codes was all that was needed to ensure […]
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Reading Time: < 1 minute As we progress in the use of telemedicine to assist patients in minimizing the risk of contagion, one key concern has already been addressed, several states have loosened up most licensing requirements to facilitate emergency medical care beyond state lines. Not all states, however, have waived these restrictions, and physician compliance is expected. Follow the […]
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Reading Time: < 1 minute The COVID-19 pandemic continues to impact many communities across the United States. The common goal is to slow the spread of disease, and one-way medical offices have been helping is by canceling non-urgent elective procedures and using telemedicine instead of face-to-face encounters for routine medical visits. Now, when it comes to providing newborn and well-childcare, […]
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Reading Time: < 1 minute On 3/28, The federal government announced a plan to offer advance Medicare fee-for-service payments to all Medicare Part A and B providers impacted by the COVID-19 pandemic and offer them some financial relief. This type of accelerated reimbursement is allowed during certain situations, such as in the event of a natural disaster or other national […]
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Reading Time: < 1 minute The rapid expansion of COVID-19 increases the demand for medical personnel. The levels of occupational stress may lead to mental and physical exhaustion, absenteeism, staff discontentment, anxiety, and patients will feel the heat. For doctors, burnout is one of the biggest contributors to misdiagnosis and treatment errors. What can you do? Here we share some […]
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Reading Time: < 1 minute Many medical offices have established protocols for assisting patients in need of medical care. You should not be the last. Here we share some important tips: • Triage patients utilizing your available resources such as telemedicine or telephone encounters. • Keep yourself and staff updated with latest official clinical care information from the CDC and […]
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