Medical billing is an essential part of how you run your practice. You can choose to have an in-house biller or contract with an RCM company, but how do you know which is the right choice for you? Our medical billing experts have analyzed the data and we’ve put together an infographic to show you … Read more
The revenue cycle begins at initial contact with the patient and closes once the line item on the balance sheet shows charges paid in full and a zero balance to close that particular cycle. In many scenarios, patients can have one or multiple cycles going at any given time. Multiple cycles going at one time … Read more
Patients with insurance will need to pay the copay at the time of service prior to seeing a provider. Commercial insurance cards contain copayment insurance information for the type of provider, but certain services, such as urgent care and specialists, may incur a higher copay that will be evident upon submitting insurance information. A brief … Read more
What Is Fee For Service In Healthcare? Fee for service (FFS) is the most traditional payment model of healthcare. In this model, the healthcare providers and physicians are reimbursed based on the number of services they provide or their procedures. Payments in an FFS model are not bundled. This means that the insurance companies or … Read more
What is Value-based healthcare? Share on facebook Facebook Share on twitter Twitter Share on linkedin LinkedIn In value-based care, providers are reimbursed for helping patients to recover their health. Lower the impacts and occurrence of long-lasting diseases and live better lives in an evidence-based way. Value-based care is different from fee-for-service and capitation, in which … Read more
As a medical practitioner in Occupational and Environmental Health, your efforts are dedicated to the treatment and prevention of illness and injury in the workplace, which leads to increased productivity among workers. Due to the high volume of patients seen, Occupational Medicine clinics have a unique set of challenges related to medical billing and revenue … Read more
Are you considering outsourcing to a third-party medical billing service for your practice? There are many factors to consider when comparing your options. It’s also important to understand the distinction between medical billing and revenue cycle management (RCM). A medical billing company will manage the paperwork of filing medical claims for the purposes of medical … Read more
2021 is upon us, and it’s never too early to improve your revenue. Because we live in an era of high copays and high deductibles, patients are forced to shoulder more medical bills. Thus, it falls on practices to utilize the most efficient and cost-saving practices they can. For practices looking to start 2021 off … Read more
One of the largest opportunities for medical practice revenue growth in the next few years is the Managed Medicaid Care market. Nearly 93 million individuals will be eligible for Medicaid by 2024, and the vast majority of them are likely to enter managed care plans. Medicaid beneficiaries are a huge segment of the healthcare market … Read more
An optimized Revenue Cycle Management (RCM) process is crucial for a successful practice Three ways to improve your RCM process: implement a financial clearance process, utilize modern technology and implement a comprehensive dashboard Healthcare organizations (HCOs) reside in a turbulent economic climate. They face increased pressures from government and commercial payers when dealing with the … Read more
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