Tag: Healthcare providers

The True Cost of Claim Denials in Healthcare

The True Cost of Claim Denials in Healthcare

According to a survey, claim denials are considered the biggest obstacle in revenue cycle management, with over 20% of providers reporting an annual loss of $500K due to these denials. A recent survey of healthcare leaders conducted by leading medical billing company revealed that claim denials are causing a significant and costly issue for healthcare […]
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AMA 2024 CPT Code Set_ Addressing Language Barriers and Immunization Codes

AMA 2024 CPT Code Set: Addressing Language Barriers and Immunization Codes

The American Medical Association (AMA) has made significant updates to the 2024 Current Procedural Terminology (CPT) code set. These changes aim to address language barriers and streamline coding for COVID-19 immunizations. One notable update is the addition of Spanish descriptors to the CPT code set, allowing for better communication and understanding of medical services. This […]
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AMA Unveils 2024 CPT Codes

AMA Unveils 2024 CPT Codes

The revised code set now features descriptions of procedures and services in Spanish for the first time. The American Medical Association’s 2024 Current Procedural Terminology (CPT) code set, revealed today, encompasses various noteworthy features. These include consolidated codes for reporting ongoing COVID-19 immunizations, provisional codes for upcoming monovalent vaccines, and codes for Respiratory Syncytial Virus […]
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Employer Healthcare Costs to Increase 8.5% in 2024

Employer Healthcare Costs to Increase 8.5% in 2024

A recent study conducted by a leading professional services firm revealed that the anticipated expenses borne by U.S. employers for their workforce’s healthcare will see a notable uptick of 8.5%, surpassing $15,000 per employee. This surge, assuming companies do not introduce augmented employee contribution methods or alternate cost-reducing strategies, stands almost twice as high as […]
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How Medical Billing Compliance Can Protect Your Medical Practice?

How Medical Billing Compliance Can Protect Your Medical Practice?

The process of medical billing encompasses multiple stages, starting with patient registration and eligibility verification, followed by capturing charges, coding, submitting claims, and posting payments. When a patient receives medical services from a healthcare provider, the provider documents the services and associated costs within an electronic health record (EHR) system. Subsequently, a medical billing entity […]
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How Streamlined Billing Can Improve Wellness For Patients And Physicians

How Streamlined Billing Can Improve Wellness For Patients And Physicians

In the coming decade, physicians and patients will grapple with intertwined challenges. A mounting need for physicians, projected to face a shortage of up to 124,000 professionals, coincides with evolving patient expectations favoring seamless digital interactions. How can medical practices navigate heightened patient demands amidst a diminishing workforce? Drawing from my experience collaborating with numerous […]
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Revenue Cycle Management Tips for 2024

Revenue Cycle Management Tips for 2024

As the healthcare industry continues to evolve, healthcare revenue cycle management (RCM) has become increasingly important. In order to ensure financial stability and success, healthcare providers must stay up-to-date with the latest revenue cycle management tips and best practices. 6 Tips for Healthcare Revenue Cycle Management 2024 1. Embrace Technology Advancements in technology have revolutionized […]
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5 Trends That Will Shape Medical Coding

5 Trends That Will Shape Medical Coding

In the world of healthcare, medical coding plays a crucial role in ensuring accurate billing and reimbursement for services provided to patients. As we look ahead to 2023, there are several trends that are expected to shape the landscape of medical coding. Here are five of the most significant trends to watch for: 1. Increased […]
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Tips To Maximize Medical Billing and Coding Efficiency

Tips To Maximize Medical Billing and Coding Efficiency

Ensuring precise claims processing and prompt reimbursements, healthcare practitioners rely heavily on efficient medical billing and coding procedures. The act of streamlining these functions holds the potential to not only heighten overall effectiveness but also to curtail administrative burdens and mitigate the risk of errors. Within this article, we will delve into a selection of […]
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