Get a Free Quote

Contact Us

Latest Updates on Medical Billing

Latest Updates on Medical Billing

Compensation of any healthcare organization relies heavily on the accuracy and efficiency of medical coding. If the billing department isn’t well-trained to handle the complexities of coding, it might lead to significant revenue loss. Same is the case with HCC coding (Hierarchal Condition Category) in which each HCC is mapped to a certain ICD-10 code. Many healthcare organizations choose to outsource HCC coding because it helps them get rid of revenue worries and focus on

Read More

Today, healthcare industry consists of complicated and rigid coding rules and loads of administrative burden. This is making providers turn more than ever to medical billing companies for assistance. But what is the future of the billing industry? Will it become bigger? As per reports, by 2026, the U.S. medical billing outsourcing market will reach USD 7.8 billion. Since there is a growing burden on revenue and profits, Medicare payments are declining, billing volumes are

Read More

It is very important that chiropractic offices comply with Medicare and private insurer requirements. From coding and coverage to documentation of services, there are several factors that need to consider if providers want to get paid on time. Improper claim submission needs to be avoided at any cost because if the claims don’t meet Medicare requirements, CMS will continue denying them. This will resulted in a significant loss of time and money that no chiropractic

Read More

There are certain challenges that every small or big healthcare organization has to face. However, by taking a structured approach, providers can optimize revenue and grow their business. Industry challenges can make it difficult for any practice to get paid. So the first and most important thing they need to do is to get proactive about billing procedures. By focusing on billing, they can get reimbursed on time and continue providing quality care to their

Read More

In order to handle all the financial pressures associated with healthcare regulations, it has become imperative for providers to ensure strong revenue cycle management. Since the revenue cycle process is dynamic and keeps evolving, issues related to staffing, billing and IT also keep arising. There are several day to day challenges that healthcare professionals have to deal with. Here are top five challenges that providers can face with their revenue cycle management system: The first

Read More

Growing number of healthcare providers are choosing to outsource their billing needs. It is not only helping them gets paid on time but they are also getting more time to focus on their patients. According to a report by Grand View Research Inc., it has been projected that the global medical billing outsourcing market will reach USD 19.7 billion by 2026. It is expected to expand at a CAGR of 11.8%. Implementation of ICD-10 coding,

Read More

It is important that medical billing specialists minimize e-coding and processing errors when filing claims. Since majority of revenue for healthcare providers comes through processing of successful claims, even a single mistake can prove costly. So the number of denied as well as rejected claims should be kept at a minimum. Before we get into the top five common billing errors, let us first understand the difference between denied and rejected claims. Denied claims are

Read More

Several measures are being taken by the US healthcare industry to reduce costs and this has hit DME providers really hard. While they are being reimbursed by Medicare Advantage plans at a lower rate than other plans, growing financial responsibilities are also adding to the pressure. Due to these challenges, DME providers across the US are finding it hard to collect more and maintain a steady cash flow. Here are a few opportunities or ways

Read More

Medical service providers are tackling increasing financial pressures from all sides. From patients and government agencies to payers, obtaining timely payment has become a challenge. To top it all, continued changed to healthcare is also threatening the budget for medical practices. Wondering what needs to be done to tackle these issues? Here are five successful strategies to improve your billing and collections: Educate patients and have a transparent collection process – It is very important

Read More

There is no denying that claim denials can prove to be a major headache for medical practices. Denials not only have a negative impact on the cash flow but also affect practice efficiency. Wondering what is causing denials at your practice? Here are 7 common causes that you should be aware of: Administrative mishaps are one of the most common reasons why denials happen. For instance, if your front-office staff has accidentally resubmitted a claim

Read More
Social media & sharing icons powered by UltimatelySocial
Facebook
Twitter
LINKEDIN