Residing in a location with exceptional medical facilities has its advantages, but regrettably, it doesn’t always protect us from the intimidating possibility of medical expenses that can alter our lives. Though treatments that save lives can be a boon, the subsequent financial strain can be daunting. In the last eighteen months, the Media industry has […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
The medical billing industry is constantly evolving, with new technologies and trends emerging all the time. As the healthcare industry continues to change, so too will the way medical billing is done. Here are some of the trends that are expected to shape the future of medical billing: The increasing use of electronic health records […]
Prompt payment to healthcare providers for their services is crucial for a detailed discussion on managing macro costs, quality, and equity. Without it, addressing the issue of rising healthcare costs becomes challenging. Healthcare providers are well aware that getting paid is not an easy task. A quick search for revenue cycle management (RCM) reveals 16-step […]