The revenue cycle management process (RCM) must be optimized for financial stability and growth in today’s competitive healthcare landscape. As a result of a smooth RCM process, revenue leakage is minimized and profitability is maximized. With this newsletter, leading medical billing experts share their insights on how to streamline and optimize Revenue Cycle Management. The […]
Medical claim clearinghouses enhance the efficiency of claim submissions for healthcare providers, thereby reducing costs and improving payment accuracy. Each year, healthcare payers and providers exchange billions of claims to finalize patient encounters, a number that continues to rise. As claim volumes increase annually (except for a dip in 2021 due to the COVID-19 pandemic), […]
Some effective RCM Hacks you can implement to streamline your processes, boost collections, and free up your staff for higher-value tasks. Increasing revenue and minimizing administrative burdens are critical in today’s competitive healthcare landscape. The engine that drives your financial health is a well-oiled revenue cycle management (RCM) system. However, many practices struggle with inefficiencies, […]
The article explores common billing mistakes and offers tips for four healthcare services that can cause payment headaches for physicians. 1. Annual Wellness Visits vs. Physicals: Understanding Medicare Requirements Differentiating between Annual Wellness Visits (AWV) and Initial Preventive Physical Exams (IPPE) is crucial for accurate billing. Both are covered by Medicare for preventive care, but […]
Ideally, revenue cycle processes should flow seamlessly from one stage to the next. However, challenges can arise at any point, from the front end to the back end, requiring leaders to be vigilant and strategic in their efforts. Here are some highlighting executive approaches to various revenue cycle challenges: How Healthcare Services Revamped Their Billing […]
The world of medical billing and accounts receivable (AR) can feel like a labyrinth for healthcare providers. Lost in a maze of codes, claims, and denials, it’s easy to see revenue slip through the cracks. But fear not! Here’s our guide to mastering AR and ensuring your practice thrives. Medical Billing & Accounts Receivable Medical […]
Embrace the Denial Management Makeover and discover how to improve cash flow, streamline billing, and finally conquer denied claims. There are few things worse than denies for any healthcare provider. They disrupt patient care, but they also add to their financial burden. Denied claims mean lost revenue, impacting your cash flow and making it hard […]
The landscape of medical coding audits is constantly evolving. Staying informed about these trends and implementing best practices can significantly reduce stress and ensure a smooth audit experience. The Shifting Landscape of Medical Coding Audits Traditionally, medical coding audits felt like a lottery. Providers faced the uncertainty of random reviews, often scrambling to address issues […]
In medical coding, CPT modifier are vital for accurate reimbursement of healthcare services. These special codes, attached to primary procedure codes, provide additional details about the complexity or extent of a service. However, using modifiers incorrectly can lead to claim denials and lost revenue. This blog post shares six key tips to help you get […]
The Rising Denial Rates in Healthcare Claims Processing Initial Claim Denials: In a new survey conducted by healthcare Company an increased percentage of initial claims are denied by private payers, including pre-approvals for medical claims. Hospitals, health systems, and post-acute care providers may have a difficult time getting paid for medical services. The survey respondents […]