In the modern-day world we search for two things in any system. First, it should be simple to use, it should be efficient in a matter of cost and time, and third, it should be effective. When it comes to finance it is even harder to manage without professional help. So here we will discuss 5 ways Emerald Health Medical BiRead More
Some practices feel that outsourcing their medical billing may result in a loss of control. Here are 5 Ways Professional Medical Billing Service Can Improve Your Bottom Line.
In fact, outsourcing your medical billing and revenue manaRead More
Many medical practices lose a great deal of money to claim denials and rejections. Denials and rejections have a huge financial impact on any practice. Here are 5 Easy Tips to Prevent Claim Denials.
Computerized provider order entry (CPOE) is an application that allows healthcare providers to directly enter medical orders electronically. CPOE systems can allow electronic entry of medication, laboratory, admission, radiology, referral, and procedure orders. Read More
As per one definition, “Blockchain technology uses secure, encrypted authentication mechanisms to validate the information from primary sources and include it in a distributed ledger, ensuring a shared source of truth for validating healthcare provider information.” Blockchain is rapidly impacting healthcare. There are several aspects of healthcare technology that can benefit from the blockchain and become more streamlined, efficienRead More
Medical billing claim denials can significantly slow down cash flow. That is why it’s extremely important to identify the causes of denied claims and prevent them in the future before they occur. Denials can be hard and soft. Hard denials cannot be corrected; they have to be written-off. Soft denials can be corrected and the claim resubmitted.
Healthcare billing involves a large number of people and processes as well as a high level of expertise to make it work well. Not all healthcare providers have the resources to do it efficiently. So let's take a look at How Billing Audits can help you recover Lost Revenue Healthcare billing audits can help you understand where you are going wrong and losing money. Billing audits often show the following.
Healthcare practices and organizations lose billions of dollars in lost revenue each year in the form of unpaid and underpaid medical claims. You do not get paid for around 5 out of every 100 patients you provide services to. As the amounts add up, it delivers a heavy blow to the financial health of your practice. Increasing patient responsibilities and the difficulty in collecting payments are becoming a troubling issue for healthcare providers. It is critical forRead More
In medical practice, credit balances occur when improper payments or adjustments are made that exceed the related posted charges. Physicians and practices often face this problem due to the complexity of billing and payment processes. Le's see Is it Risky to have Credit Balances in Medical Billing. Credit balances are not really an asset for practice since they belong to the patient or the state. In fact, they expose the practice to several business aRead More
Merit-based Incentive Payment System (MIPS) is part of the Quality Payment program, which implements provisions of the Medicare Access & CHIP Reauthorization Act of 2015 (MACRA). Let's take a look at MIPS considerations for a Radiology practice. For radiologists, participating in the first performance year evolves three options – test, partial, and full. MIPS will begin to take effect for Medicare physician reimbursement in 2019 but tRead More