Interoperability role in medical billing: A growing number of physicians practice in an interconnected world, which means that medical practices and hospitals need to seamlessly share information in order to be able to provide good health management and ensure that patients are treated safely and effectively. Health care interoperability is an important concept that has […]
Revenue cycle management (RCM) is an intricate and critical aspect of the healthcare industry, encompassing the entire process from patient registration to reimbursement. However, RCM processes often face challenges, leading to pain points that can hinder efficiency, increase costs, and negatively impact patient satisfaction. Outsourcing Revenue cycle management services offers a viable solution to alleviate […]
Whether you’re a primary care doctor, a specialized medical professional, or an integrative health provider, the intricate landscape of insurance billing frequently presents not just an administrative inconvenience, but, if not managed effectively, it can also hinder the growth of your practice and revenue stream. Recent data reveals that the rate of claim denials stands […]
Medical billing can be a complicated landscape with costly and alarming risks. From minor transcription errors to major coding misunderstandings, inaccuracies in this field may lead to lost income or legal complications for your healthcare organization. While some medical billing problems stem from simple oversights, others result from systemic challenges. However, all of these issues […]
Here are five common mistakes you should avoid to prevent revenue loss 1. Inappropriate medical Coding: Frequently, medical coding for evaluation/management services tends to be excessively aggressive or overly passive, leading to coding errors. These mistakes are primarily due to the misinterpretation of E/M coding guidelines and the fast-paced nature of the clinical environment. Aggressive […]
Make your New Year’s resolution to reduce your error rate. Medical coding and billing errors can cause a host of problems. Denied or partially paid claims are costly in dollars and cents to be sure, but they can also cost you in lost time, delayed payments, lower quality patient care, angry patients, loss of reputation, […]
It is estimated that as high as 80 percent of medical bills contain errors.1 As healthcare costs continue to rise, so too is the need for healthcare payers to reduce overspending resulting from avoidable billing errors and improper claims reimbursement. Given the sheer volume of claims submitted each day, capturing and reconciling discrepancies based off of […]
For many healthcare providers, claim denials are a frustrating cost of doing business. Each year, around 5-10% of medical billing claims are rejected (possibly more). With each claim costing around $25 to rework, providers lose billions in eroded revenue and productivity. Any revenue leakage is bad enough, but the shift towards value-based care means tighter revenue cycle management […]