Tag: Medical Billing Errors

RCM Pain Points

Addressing Common Pain Points in RCM And How Outsourcing Alleviate It?

Revenue cycle management (RCM) is an intricate and critical aspect of the healthcare industry, encompassing the entire process from patient registration to reimbursement. However, RCM processes often face challenges, leading to pain points that can hinder efficiency, increase costs, and negatively impact patient satisfaction. Outsourcing Revenue cycle management services offers a viable solution to alleviate […]
Learn More
8 Medical Billing Tips for Practitioners

8 Medical Billing Tips for Practitioners

Effective insurance billing is crucial for the financial health of any medical practice, whether primary care, specialized, or integrative. Inefficient billing leads to significant revenue loss, with claim denial rates exceeding 15% and surging nearly 17% since 2019. To mitigate these losses, providers must prioritize robust billing processes. As a medical billing service, we’ve identified […]
Learn More
Resolve MedicalBilling Issue

10 Common Medical Billing Issues and How To Fix Them

Medical billing can be a complicated landscape with costly and alarming risks. From minor transcription errors to major coding misunderstandings, inaccuracies in this field may lead to lost income or legal complications for your healthcare organization. While some medical billing problems stem from simple oversights, others result from systemic challenges. However, all of these issues […]
Learn More
5 Common Medical Coding Mistakes

Tips to Avoid 5 Common Coding Mistakes That Cost Revenue

Here are five common mistakes you should avoid to prevent revenue loss 1. Inappropriate medical Coding: Frequently, medical coding for evaluation/management services tends to be excessively aggressive or overly passive, leading to coding errors. These mistakes are primarily due to the misinterpretation of E/M coding guidelines and the fast-paced nature of the clinical environment. Aggressive […]
Learn More
Identifying & Addressing Common Medical Billing Errors

Identifying & Addressing Common Medical Billing Errors Pre- & Post-Payment

It is estimated that as high as 80 percent of medical bills contain errors.1 As healthcare costs continue to rise, so too is the need for healthcare payers to reduce overspending resulting from avoidable billing errors and improper claims reimbursement. Given the sheer volume of claims submitted each day, capturing and reconciling discrepancies based off of […]
Learn More
How to Prevent and Manage Claim Denials

How to Prevent and Manage Claim Denials

For many healthcare providers, claim denials are a frustrating cost of doing business. Each year, around 5-10% of medical billing claims are rejected (possibly more). With each claim costing around $25 to rework, providers lose billions in eroded revenue and productivity. Any revenue leakage is bad enough, but the shift towards value-based care means tighter revenue cycle management […]
Learn More
5 Common Remark Codes For The CO16 Denial

5 Common Remark Codes For The CO16 Denial

co16 denial code description: The CO16 denial code is used in medical billing to indicate that a claim has been denied because it lacks necessary information or contains errors. It falls under the category of “Contractual Obligation” (CO) denials, which means the responsibility falls on the provider to fix the issue and resubmit the claim. […]
Learn More
x