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Showing posts with the label revenue cycle management

Why does your Staff Fail to Collect Revenue from Patients?

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  After 25 years of training medical practice staff how to successfully ask patients to pay at the point of service, there are many common excuses that we hear when staff members fail to collect Revenue from Patients. As per the Consumer Financial Protection Bureau (CFPB) report released in December 2014, 43 million citizens have overdue medical debt and a staggering 52 % of all debt on credit reports is from  medical billing . The findings of the study clearly indicate that patient collection is becoming a  serious threat to the profitability of the provider’s office. Factors like ongoing economic instability combined with the implementation of the Affordable Health Care Act and the shift in payment models to be consumer-direct with high deductibles have all consolidated into greater difficulties for the provider’s office at revenue collection from patients. Reasons Your Staff Fails to Collect Revenue from Patients To elaborate, here are a few reasons why provider’s offices fail,

Top 5 Challenges with Healthcare Revenue Cycle Management

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  Healthcare Revenue Cycle Management Healthcare Revenue Cycle Management professionals use information technology to keep track of claims through their entire lifecycle. This is necessary to ensure payments are collected and denied claims are addressed. However, some hospitals struggle to put information technology and billing infrastructure in place in a way that successfully manages claims as well as large outpatient networks. In today’s healthcare environment, effective health information technology is essential. Unfortunately, not all hospitals and clinics have the capital or infrastructure to invest in new technologies or even required technologies, such as  EHRs . If you have ever come across or worked in a healthcare organization, you must be aware of the importance of medical claims and how they can put financial constraints on your revenue cycle when rejected. The administrative work of a healthcare facility is different from other industries as clinical treatment is not a

CMS announcement for durable medical equipment suppliers

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The Habitats for Medicare and Medicaid Services (CMS) declared refreshed direction regarding a few emergency waivers identified with Medicare and Medicaid arrangements and administrative updates during this pandemic for durable medical equipment suppliers. The CMS probably will continue to declare supplemental direction on the sweeping waivers.  Here we have a nitty-gritty outline of the pertinent waivers that will influence durable medical equipment suppliers, prosthetics, orthotics, and supplies (DME) and are projected to set up the American healthcare system with the most extreme adaptability to react to the public health emergency. These transitory changes will remain as a result across the U.S. healthcare system for the span of the pandemic emergency presentation.  By enacting these waivers, CMS desires to "put patients over administrative work" to give some relief from the huge documentation work, reporting, and review necessities. Presently suppliers and controllers ca

CAQH is Required for Provider Credentialing

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Credentialing is a systematic approach to the gathering and verification of a fitness care issuer’s professional qualifications. The qualifications which might be reviewed and confirmed encompass, however, are not restrained to, applicable training, licensure, certification and/or registration to exercise in a health care field, and academic history. insurance credentialing is the manner of becoming affiliated with coverage organizations to make sure health care vendors can receive 0.33 birthday celebration reimbursement. There are numerous misconceptions approximately CAQH, what it's far, what it does, and why it’s used.  We’re going to answer those questions and inform you how to check in with CAQH. CAQH is an online statistics repository of credentialing records. provide credentialing the usage of CAQH refers back to the system of practitioners self-reporting demographics, training and education, work records, malpractice records, and different relevant credentialing records to