Revenue Cycle Management solutions help the medical services with the crucial tasks of processing claims and payments along with the services of effective management of the revenue cycle. These providers ensure streamlined cash flow and workflow in the health care industry by keeping in touch with the patients’ insurance reimbursement status and by checking their …
CMS Fee Schedule for the physicians was issued on 1st November 2019 to be used for availing health services from 1st January 2020 onwards. This schedule served as an incentive for primary care physicians who used to avoid providing primary level services due to excess burnout and heavy paperwork. This schedule curtailed the need for …
2020 marks the advent of the new decade and this new decade comes with new technological innovations and new challenges. With every field stepping up with advanced technology, medical and healthcare services are evolving and revolutionizing at the same pace. The inventions and innovations that were once seen only in high-tech and Sci-Fi movies are …
The new decade has come with new challenges accompanied by some other problems that left unresolved during the last decade. 2020 came with some unprecedented and unpredictable predicaments such as a global medical emergency due to the covid-19 outbreak making its way from China to the US in a few days. It increased the burden …
Healthcare data breaches are affecting millions in the United States and one of the major causes is hacking by cybercriminals. According to a report titled The State of Cybersecurity in Healthcare, by The Fortified Health Security which gathered data spanning over a decade and found that forty million Americans were affected in 2019. This is the …
Independent practices make up a major part of the American healthcare system. Undoubtedly, people are more influenced by these independent practices as they are relatively inexpensive and ensure better care than larger healthcare organizations and hospitals. Moreover, these practices have won patients’ trust by adding to their convenience as they provide low-beneficiary costs and are …
Physicians go through a tough phase where they have to choose between opting independent practice and joining hospitals or other healthcare organizations. This decision proves to be a turning point in their medical career, so they have to weigh the pros and cons of each before taking a final decision. After a thorough cost-benefit analysis …
Revenue cycle management (RCM) in the healthcare industry has become the most sought-after thing. As healthcare providers are fraught with unpaid bills, payment denials, billing errors, ever-changing requirements, revenue leakage, and the inability to reform the financial cycle. According to a study ‘the revenue cycle management market is projected to reach US$ 216,990.6 million in …
Healthcare providers are more focused on improving the quality of care but at the same time, they remained concerned about reimbursements and collections. The lack of financial automation tools and the availability of limited resources bounds them to rely on conventional methods. Using the conventional approach to manage the revenue cycle, it is difficult to …