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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 RevenueHealthcare 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 stateRead 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.Read More
An imaging suite/department has many moving parts. Let's see how Imaging suite workflow optimization with AI works. There are several steps involved:
The clinical workload is increasing. Clinicians are seeing more patients and radiologists are having to read more scans in a day. Also, as the electronic health record system gets more sophisticated and detailed, we have access to unprecedented amounts of data. This is a scenario where doctors have more patients to see, more data to consume and better results to aim for. It’s a challenge and an opportunity. Let's review how the Clinical Context & Synopsis GeneRead More
There is a wide range of errors that take can take place in both the clinical and the nonclinical realms of healthcare. There have been a lot of interest in applying Artificial intelligence in these areas to see if it can be leveraged to reduce medical errors. Let’s review how AI can help reduce medical errors :
Physicians and healthcare facilities are continuously battling decreasing reimbursement rates from insurance companies and rising operational costs. All these factors make medical billing critical for a physician or a healthcare practice. Let's take look at the reasons to outsource medical billing.While some practices keep the billing process in-house, an increasing number of practices are outsourcing the medical billing to a company that has expertise in medicaRead More