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Latest Updates on Medical Billing

Latest Updates on Medical Billing

COVID-19 virus, also known as the Novel Coronavirus, has been declared as the world pandemic by the World Health Organization. This is severely affecting the health and financial aspect of the economy and people in general. With the outbreak of this pandemic across the world, there are various new challenges every day and the healthcare providers are implementing new and emergency plans in order to adapt with those challenges. The healthcare workers are acting as

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  A mixture of economic and regulatory elements could affect the ability of patients to yield for medical services. Everyone knows it that an economic downswing could make far-flung employment that leads to eminent undoubtable co-pays which effect in a significant deprivation of taxation for many practice sessions. Well, an insurance policy of company’s regulations and cypher measures are also invariably shifting, which could make claims to be accidentally crossed. All of these gradual shifting

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With the rapid advancement of technology, the healthcare sector is continuously evolving nowadays; the medical billing is one of the many areas housing most of the changes.Although traditionally, in-house billing as best, modern technology and services make the pan of outsourcing medical billing a lot heavier. Here, we will discuss seven reasons why medical practitioners should outsource their billing: Save your time and energy. Being a medical practitioner already makes your day much more hectic

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All you want to know about Credentialing The meticulous review process of the qualifications of licensed medical professionals and obtaining their validity and background is known as Credentialing. A large number of healthcare institutions as well as network providers make their own credentialing. It is done either by an electronic device or through a credentialing specialist. But after the credentialing, it should be reviewed by a credentialing committee. The Credentialing may include allied health staff

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Medical technologies have developed not only in terms of equipment but also in providing healthcare services at the ease of one’s hand. Telemedicine is a term referring to giving medical advice and prescriptions via video calling or other convenient methods. Tele-Medicine practice has reached to more than three-fourths of the hospitals in the United States. The practice of telemedicine reduces costs and is convenient for the patient. The combination of technology and healthcare skills raises

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  Co-sourcing, in simpler terms, is hiring a contractor or a consultant continuously. With co-sourcing you can get an external resource, a team of experts, that becomes an integral part of your team that works side by side or on site. Co-sourcing has proved to be a solution to every business in terms of designing, development, sales and accounting. It helps the business in increasing productivity by enhancing the deliverable. The economy is witnessing a

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  Are you tired of claim denials? Are your denial rates increasing day by day? Well, that is common in today’s world. As per the industry standards, the average rate of denial is somewhere between 5-10% and if you have a denial rate of more than 10%, then you need to worry and do something regarding that. So, it is better to take preventive actions to avoid the claim denials that have a negative effect

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  Revenue cycle management is a vital aspect of healthcare facilities, one that helps to track the present financial status and enhances future financial performance. However, it becomes difficult to manage such a complicated process when many other essential activities are already going on in the facility. The process can also turn out to be inefficient due to errors in medical billing, revenue leakage, or unavailability of trained staff. The world is suffering from the

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