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Latest Updates on Medical Billing

Latest Updates on Medical Billing

As per a survey conducted by Black Book Market Research, outsourcing of complex claims to a specialised medical billing company increased from 20.4% in 2013 to 39.8% in 2016 for almost all US hospitals. Why is there a steep rise in outsourcing medical billing? In the following paragraphs, we will try to understand why most of the medical practitioners are choosing outsourcing over having an in-house billing team. Understanding In-house billing Setup and Running Costs

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As per Medliminal Healthcare Solutions (MHS), at least four in five medical bills have mistakes, which costs US$68 billion annually in unnecessary healthcare expenditure by doctors and patients alike. A lot of medical practitioners are thus choosing to outsource their billing needs to a medical billing company rather than going for an in-house team. However, both in-house and outsourcing have their benefits and complications. There are a few challenges involved in outsourcing billing services rather

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According to a consumer credit report survey by CFPB (Consumer Financial Protection Bureau), approximately 42.9 million people with credit records have outstanding medical bills. This is a clear indication that collecting money from patients is a serious challenge for most practices. In an article published by the MGMA (Medical Group Management Association) there are various challenges due to which practices fail to collect money from patients, ranging from high deductible plans, nature of patient expectations,

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In the US healthcare industry, breaches have increased in frequency along with the penalties. Due to the lack of compliance and security on part of healthcare providers, hackers are finding it easy to attack the systems. So as a provider, you need to think hard about HIPAA compliance in 2019 because HIPAA is one of the most influential policies that affect patient experiences. It is being expected that 2019 will see various changes to the

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HIPAA (Health Insurance Portability and Accountability Act) guidelines were introduced in 1996 to protect the health information of patients and till today, compliance to these guidelines is a must for physicians. Even in 2019, practices will be required to adhere to the HIPAA rules and maintain the confidentiality of sensitive patient data. They will need a certain organizational method for implementing the comprehensive security and privacy policies to achieve compliance. Since HIPAA compliance can be

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Believe it or not but physician dissatisfaction and burnout rates are at an all time high in the USA. With most healthcare providers working at least 40-60 hours on a weekly basis, it seems that a career in medicine is not compatible with the concept of work-life balance. Problems like depression, dissatisfaction and burnout have become quite common in physicians. Especially female physicians are reporting work-life balance as an important concern. For many doctors, working

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Are patient collection issues eating up a lot of revenue for your practice? According to the ACA International, at least 29% adults experience trouble in paying their medical bills or they have medical debt. If your practice isn’t doing something to improve collections, you will have to leave a lot of money on the table. Not acceptable, right? So if you want to improve patient collections for your practice in 2019, then here a few

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It is very important for medical practices to assess the efficiency of their revenue cycle management practices on a regular basis. Reviewing of A/R is required for the bigger picture assessment of the practices’ financial health. According to the industry experts, this evaluation needs to be done almost every month or every 3 or 6 months. The more frequently the review is done, the better it is for the practice. According to the CMS (Centre

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Did you know, in the Patient Protection and Affordable Care Act, Congress has recognized PAs (Physician Assistants) as one of the three healthcare professions in primary care. Due to the general medical background, PAs are quite responsive to the changing healthcare needs. From primary care to surgery, they are uniquely suited to provide preventive care service in all types of medical settings. Since they work in concert with physicians, it becomes easier to deliver comprehensive

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Balancing clinical obligations and taking care of patient needs and practice resources can take a toll on providers. But in order to enhance patient experience, it is important to improve their access to timely care. This can happen only when practices improve appointment scheduling. For instance, providers need to implement strategic scheduling practices such as same-day appointments or even consider piloting different scheduling models for optimizing access. Here are some of the benefits that practices

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