Tag: Medical Practice

Modifier 50

Mastering Modifier 50: Ensure Accurate Billing for Bilateral Procedures

Modifier 50 is used to indicate that a procedure or service was performed on both sides of the body during the same operative session. It’s essential to use this modifier correctly to ensure accurate billing and reimbursement. Key points for appropriate use: Bilateral Procedures: The procedure must be performed on identical, opposing structures (e.g., eyes, […]
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Streamline Prior Authorizations and Reduce Stress for Your Patients

Streamline Prior authorizations can be a real pain, but with a few adjustments, you can make the process smoother and save yourself and your patients some stress. Here are 5 tips to streamline prior authorizations: Know Your Triggers: Become familiar with medications and procedures that frequently require prior authorization. Identify alternative options, like generics, that […]
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3.36% Cut Threatens Medicare Physician Care Access in 2024

3.36% Cut in The Proposed 2024 Medicare Physician Pay Schedule

What’s the news: The AMA is emphatically stating that the proposed 3.36% reduction in the 2024 Medicare physician payment schedule is ill-advised, posing a threat to the accessibility of high-quality physician care for the 50 million plus elderly individuals enrolled in Medicare. The AMA President emphasized that with escalating costs associated with medical practice; another […]
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New Healthcare Price Transparency Rule

The New House Bill’s Drive for Healthcare Price Transparency

The Lower Costs, More Transparency bill has been introduced by the House Energy and Commerce Committee to address healthcare cost transparency. The bill’s purpose is to enhance price transparency within the healthcare system. According to survey, over 60% of Americans are living paycheck to paycheck. This implies that they are at risk of facing a […]
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2024 ICD-10 Changes

2024 ICD-10 Changes: How They Will Impact Your Practice

For the FY 2024 ICD-10-CM code set, the Centers for Medicare and Medicaid Services (CMS) have introduced 395 new diagnosis codes, deleted 25 codes, and revised 13 codes. Additionally, the 2024 Addendum has been updated with revisions to dozens of codes related to conditions such as osteoporosis with fractures, retinopathy, muscle entrapment in the eye, […]
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Benefits of Compliance in Medical Billing

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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Four-Key-Payment-Trends-Pediatric-Practices

Four Key Payment Trends That Impact Pediatric Practices

For a modern medical practice, efficiency is everything. Labor costs continue to increase, putting a pinch on practices that are still recovering from pandemic shutdowns. An August 2022 snapshot of practices shows that, although physician productivity is increasing, expenses are growing faster than reimbursements. Every person in the practice must work at peak efficiency, from […]
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Rising Costs - Revenues - Patient Encounters – Physician Practices

Rising Costs, Revenues, Patient Encounters – Physician Practices

How bad is inflation? Physicians, financial managers report the latest. The Medical Group Management Association has published its 2022 MGMA Cost and Revenue Survey Report. The title is “Maintaining Margin in the Inflation Era,” and survey respondents said it’s been difficult to do so in 2022. The COVID-19 pandemic and its lingering effects on health […]
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