Claim denials pose a substantial threat to the financial health of medical practices. Effective medical claim denial management is crucial for protecting revenue, streamlining operations, and maintaining positive payer relationships. This comprehensive guide outlines a strategic approach to reducing denials, managing appeals, and safeguarding your practice’s financial stability, with a strong focus on effective medical […]
In the complex world of healthcare, accurate medical coding is the linchpin of a healthy revenue cycle. For US-based medical practices, hospitals, and billing companies, efforts to Improve Medical Coding Quality directly translate to timely and accurate reimbursements. Errors in coding can lead to denied claims, compliance issues, and significant financial losses. This blog post […]
The U.S. Department of Health and Human Services (HHS) Office of Inspector General (OIG) recently conducted a review of Medicare Severity Diagnosis Related Groups (MS-DRGs) that required more than 96 consecutive hours of mechanical ventilation. The audit focused on compliance with Medicare payment requirements and accurate Mechanical Ventilation Coding and code assignment. A total of […]
Revenue cycle management (RCM) is the lifeblood of any healthcare organization. However, even with the most diligent efforts, denials are an inevitable part of the process. These denials, if not addressed efficiently, can significantly impact your cash flow and overall financial health. That’s where streamlining your medical denials process becomes crucial. In this blog, we’ll […]
The landscape of healthcare policy in the United States has recently been shaken by an executive order issued by the U.S. President, introducing significant potential shifts, particularly concerning Gender-Affirming Care Coding. This has ignited widespread concerns about insurance coverage, general medical coding practices, and compliance obligations for hospitals and healthcare facilities nationwide. On January 28th, […]
For any medical practice, the timely reimbursement of claims is essential to maintaining a healthy cash flow and sustaining operations. The moment your practice submits a claim to the payer, the countdown begins until you receive the actual payment. Delays in reimbursement can strain your revenue cycle, affect financial stability, and even impact patient care. […]
AI in Revenue Cycle Management stands as one of the strongest use cases for artificial intelligence (AI) in healthcare. AI-driven solutions have significantly reduced claim denials and improved overall efficiency by automating complex administrative tasks. These technologies enhance data collection, streamline prior authorizations, and optimize medical coding, leading to faster reimbursement cycles. Healthcare providers are […]
As the healthcare landscape continues to evolve, keeping up with Current Procedural Terminology (CPT) code changes, including essential CPT code revisions, is essential for providers, coders, and revenue cycle management (RCM) professionals. Each year, the American Medical Association (AMA) updates the CPT code set to reflect medical advancements, regulatory requirements, and industry best practices. These […]
Medical coding and billing are critical components of the healthcare revenue cycle. They ensure that healthcare providers receive proper reimbursement for the services rendered. However, the ever-evolving regulatory landscape, shifting payer policies, and technological advancements present numerous Medical Coding & Billing Challenges. These challenges significantly impact the efficiency and accuracy of the revenue cycle. As […]
In healthcare, claim denials pose a significant challenge to a provider’s revenue cycle. Each year, over $4.5 trillion in claims are submitted to insurance carriers in the U.S. alone. Despite this volume, healthcare providers continue to see an alarming rise in denied claims. In 2022, 42% of respondents reported an increase in denials, but by […]