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Latest Updates on Medical Billing

Latest Updates on Medical Billing

Private practices across the US are bracing for another series of changes from the CMS (Centers for Medicare and Medicaid Services). Changes like new legislations, more inpatient codes, compliance demands, cuts to Medicare physician fee payment rates and performance-based incentives and reporting requirements will be impacting the bottom line of many private practices across the country. Due to complex reporting requirements for the performance-based incentive program, many physicians will not be able to take advantage

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What is the number one priority for physicians? The answer is- delivery of quality patient care. But do all physicians get paid for rendered services? Are they equipped to support quality of care with sound financial management? Unfortunately, physicians in all specialties across the US are struggling with some common challenges that are impacting the bottom line of their practice. From challenges related to regulatory compliance and data analytics to the complexities of value-based care

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With medical billing changing so fast, it has become difficult for an independent practice or even a single hospital to profitably manage the task in-house. Since there is an overwhelming number of tasks that medical practice managers have to contend with, outsourcing of clinical and administrative functions seems like an attractive option to many. Farming out functions like medical billing allows practice staff and providers to focus on what they do best while a dedicated

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If you are a practice that wishes to contract with third-party payers, then it is necessary that you attest to the qualifications and competencies of your physicians. This needs to be done through a process of source verification, data collection and committee review. If the physicians are not credentialed properly by an insurance company, then they won’t get paid on time for treatment of patients that are covered by that plan. This will result in

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Coding precision is vital for radiology practices to get paid for rendered services. Since coding inconsistencies are quite common in radiology environments, it becomes necessary to have expert billers and coders working for the practice. The main reason behind coding inconsistencies is that the professional and technical billing processes don’t often overlap. There are chances a technologist focused on patient care will miss the charge-capture updates that are required for reflecting a change in patient

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Do you want to set your practice up for success in 2018? If the answer is yes, then you need to stay abreast with the trends, issues and updates that might affect your revenue cycle over the course of this year. Since medical billing is one of the most tedious yet important procedures for any medical practice, you will have to make sure that it is streamlined and is bringing in money for all rendered

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Are your chiropractic claims getting denied or delayed? If the answer is yes, then you need to put a check on it and get your practice appropriately compensated. No practice can survive in business if too many claims fail. It is necessary to understand the reason why claims are getting denied by payers. Only then it will be easy for you to prevent any financial free-fall. Here are some of the common reasons that can

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Error-free medical billing is vital for the existence and financial health of medical practices. It can be considered the backbone of healthcare facilities and therefore, it is necessary to ensure that there are no issues when billing for rendered services. Since there various stakeholders involved, the medical billing process can pose various difficulties for the providers. There is a strong need for them to communicate across payers and departments to ensure that relevant information is

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A growing number of SNFs or skilled nursing facilities across the US are facing revenue-related challenges. It has become difficult for them to survive in business, considering the number of industry changes taking place. For instance, some facilities are under financial pressure because they are operating on thin margins in the face of insufficient Medicaid reimbursements. Private-pay population numbers have also declined which has caused financial problems for many facilities. There are various other problems

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In order to get timely payments, skilled nursing facilities need to follow efficient billing practices. From submission of denial free claims to accounts receivable management, payer follow-ups and compliance to healthcare regulations, there is a lot that needs to be done if a skilled nursing facility wants to survive in business. There are an increasing number of regulatory restrictions as far as skilled nursing facility billing is concerned. Consolidated billing is a patent system that

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