Here Is How To Reduce Your Risk Of Bad Receivables

Reduce bad receivables through these simple tips. Medical companies often find themselves strangled with bad debts. The reasons are simple: the claims are rejected; the insurance companies don’t deem the services payable, or the medical staff wasn’t trained well to collect payments. But these bad debts can be minimized through these simple ways. Reducing Claim …

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Most Common Problems in Medical Billing and Coding

Medical billing and coding errors are one of the most common reasons that cause claim denials and physicians suffer a huge loss in revenue. According to a report from the U.S. Government Accountability Office, almost 30% revenue loss of medical practices results from medical billing errors. The nationwide rate of denials for procedures not covered …

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6 Key Revenue Cycle Metrics That Your Practice Must Track

Most medical practices analyze their financial health with a simple analysis of cash flow when it represents only the one aspect of the revenue cycle. Revenue cycle management for practices is a complete process that starts from charge capture, claims submission, accounts receivables, collections and ends up on the analysis of the financial data. It …

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Accounts Receivable (AR) Follow Up and Denial Management for Practices

AR & Denial Management is the main area to focus if practices want to successfully achieve their business goals. If a practice is having an effective accounts receivable and denial follow up strategy, only then the accounts balances show a positive outcome. If a practice lacks the expertise required to manage accounts receivable then it’s …

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Infographic – 7 Easy Steps to Physician Credentialing

easy steps for physician credentialing

Credentialing — also called Physician Credentialing, is a process of formal verification of a physician’s educational documents, work record, license and practice history. Employers and payers review this information and determine whether the physician should be hired, or in the case of a payer whether the physician will be permitted to bill that insurance carrier. …

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8 Ways to Improve Your Patient Payments

Getting paid for the services offered to your patients is equally important as is the quality of care. However, many physicians and medical practices just focus on providing the care and are not good at following up payments and collections. To close your revenue cycle successfully, physicians should undertake payment collection strategies. These strategies should …

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9 Ways to Maximize Your Medical Practice Cash Flow

If your practice is experiencing squeezed cash flow due to any reason, either it’s the latest policy compliance or any governmental program enrolment following which you are not getting the optimum payments. The new MACRA quality payment program is also challenging the physicians as it is moving to reporting of quality metrics and collections. It’s …

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