Tag: Practice Management

Medical coding strategies

Top Medical Coding Strategies to Maximize Reimbursements

The difference between a thriving medical facility and one struggling with cash flow often lies in the precision and strategic application of its coding processes. Maximizing reimbursements and strengthening financial health hinges on a proactive approach to medical coding – one that goes beyond simply assigning codes and delves into optimizing every facet of the […]
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How to Protect Small Healthcare Practices Through Automation

How to Protect Small Healthcare Practices Through Automation

Amid inflation and recession concerns, organizations are cutting back on IT spending. While healthcare tends to outperform other industries when faced with economic headwinds, healthcare practices are not entirely immune to a recession. Smaller offices with fewer resources, staff members and revenue are the most susceptible to potential difficulties. So where can healthcare providers trim […]
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3 Tools to Boost Engagement with Patients

3 Tools to Boost Engagement with Patients

Adopting the right technology can help allocate or reallocate time from physicians and staff to focus on patient engagement and satisfaction. With all the pressures on physician time these days, it’s no wonder some doctors struggle to engage patients fully in their medical care, overall health and future well-being. Patient engagement efforts compete with all […]
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The potential Medicare payment cuts for 2023

The potential Medicare payment cuts for 2023 reflect the proposed 4.5 percent decrease in the Medicare conversion factor and the 4 percent PAYGO sequester. As medical groups expect to see Medicare payment cuts in 2023, practices are considering limiting the number of new Medicare patients and reducing clinical staff to ensure financial stability, according to […]
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Low Reimbursement Rates Lead to Rural Hospital Closures

Low Reimbursement Rates Lead to Rural Hospital Closures

Low reimbursement rates, staffing shortages, low patient volumes, and regulatory barriers are some of the root causes of rural hospital closures, the American Hospital Association (AHA) explains in a new report. The report “Rural Hospital Closures Threaten Access: Solutions to Preserve Care in Local Communities” highlights the variety of causes behind rural hospital closures, which […]
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Physician Practice Costs Grew 20% Per Claim

Physician Practice Costs Grew 20% Per Claim

Following a private equity acquisition, physician practices saw a 20.2 percent increase in charges per claim, an 11 percent raise in the allowed amount per claim, and a 37.9 percent increase in new patient visits. Private equity acquisition of physician practices in dermatology, gastroenterology, and ophthalmology was associated with increased healthcare spending and utilization, according […]
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Value-Based Revenue Makes up 6.74% of Primary Care Income

Value-Based Revenue Makes up 6.74% of Primary Care Income

MGMA report shows value-based contracts account for $30,922 per provider The Medical Group Management Association released a report looking at the proliferation of value-based contracts and how quality metrics tie-in to revenue. The report, 2022 MGMA DataDive Practice Operations, shows that revenue from value-based contracts accounted for varying amounts of total medical revenue in 2021 […]
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Locum Tenens Physicians To Fill Vacant Positions

Locum Tenens Physicians To Fill Vacant Positions

  Hospitals are increasingly utilizing locum tenens physicians, advanced practice providers (APPs), and telehealth services to address staffing shortages. The Innovation & Flexibility: Journey to Sustainable Healthcare Report reflects data from 129 healthcare administrators representing a range of facility types and sizes. The COVID-19 pandemic exacerbated hospital staffing shortages as many clinicians faced burnout and […]
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