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Top Goals for Physicians to Implement In Their Facility

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  The changing political trends have affected the way physicians are implementing changes in their functioning at work, be it at clinics or hospitals. Keeping up with the times is the need of the hour and hence never knowing which way the winds will blow, physicians should initiate certain goals that can help them ride the rough weather when it comes and sail through the smooth times. Here we shared information on Top Goals for Physicians to Implement In Their Facility So What Goals Can Physicians Implement? Based on a recent online research Toluna’s healthcare panel of 500 physicians revealed that nearly 9 in 10 respondents ranked “achieving work-life balance” as their most or second most-important resolution for 2017. This was followed by 69 percent who ranked “staying up-to-date with technology,” and 58 percent ranked “taking advantage of more leadership and training opportunities”. The latter two goals can help achieve the former and topmost goal of achieving a work-life balan

5 Things about Better Medical Billing and Happier Patients

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  Let’s always keep in mind that patients come with some problems that they hope will be solved quickly and without any hassles. So, how does one keep the patients happy? While keeping a smiling face makes good sense, giving the patients a great experience is an art in itself. Here are a few valuable tips that can help you do just that.  Outsourcing your medical billing can seem scary. The more empowered you are, the easier will be to make the right decision for your practice´s medical billing needs. In our webinar  “Five reasons to outsource your medical billing” , Health Prime´s Strategic Account Manager, Caroline Balestra, reviewed the main reasons to outsource your billing and some benefits for your medical practice. 5 Things About Better Medical Billing and Happier Patients Give them the right to have a better choice Being transparent is probably the first step in giving healthcare to patients in distress. Allowing them to make the right choice, or rather giving them the righ

Importance of A/R Follow-up in Medical Billing

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  Importance of A/R Follow-up Medical billing is a complicated process that requires special skills in medical billing, coding, denial, and AR management from experienced and well-trained staff. The financial health and success of any medical practice are dependent on maintaining positive cash flow. In order to provide patient care and cover expenses, it’s important that payments are not delayed, lost, or denied. With the understanding of billing guidelines and a highly trained staff in place, you’ll start to reap the benefits of high first-pass acceptance rates and shorter billing cycles. But even when everything goes right, some claims will still be rejected or denied. The accounts receivable (A/R) follow-up team in a healthcare organization is responsible for looking after such denied claims and reopening them to receive rightful reimbursement from the insurance carriers. Even though these claims could be held up by simple mistakes, you will be surprised to know that over half of

How can Physicians Improve AR Days?

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  For you to improve the accounts receivable  (AR)  of your practice there are many different factors that come into consideration. Your quality of patient care is one such important factor that will contribute to attracting more patients. To improve the patient care for your practice things need to be systemized; we have to sync the work of an admin along with other patient-care factors. Healthcare providers lose millions of dollars each year due to inefficiencies in their accounts receivable (AR). Learn how to improve your AR days here. One of the easiest ways to achieve the complex goal setting of practice is to have a defined target and nothing can be better than an Account Receivable (AR) of a practice. A physician might say that yes I am seeing many patients but still my AR is low; one thing we ignore is the need for constant cash flow and collecting timely AR. Physicians often come out on a short end especially when they are dealing with bigger insurance companies. Dealing w

Basic Billing Tips for New Medical Practice Start-ups

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You were putting up your own medical practice! This means you have probably done your research on the pros and cons, and are aware of the benefits and risks factors. The crucial question now is how to deal with the one and only daunting task –  Medical Billing . To be able to maintain that balancing act of funding your practice and continuing to provide quality patient care, an effective practice management cycle is essential. For a successful  Revenue Cycle  Optimization, given that each component is interdependent right from eligibility checking, charge coding, and claims reimbursement, to accounts receivable and denial management, the state-of-the-art approach is required. Here are 5 essential billing tips that can help you get started to avoid the pitfalls in your new venture: Basic Billing Tips for New Medical Practice Start-ups 1. Be informed:  Your clinical and administrative staff should be trained to collect all insurance details from the patient before the patient–physician e

Basics of Provider-Based and Teaching Physician Services

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  Provider-Based Physician Services Providers may retain physicians on a full-time or part-time basis in, for example, the fields of pathology, psychiatry, anesthesiology, and radiology, and in many instances (especially in teaching hospitals) in other fields of medical specialization as well. Any one of these physicians may be engaged in a variety of activities including teaching, research, administration, supervision of professional or technical personnel, service on hospital committees, and other hospital-wide activities, as well as direct medical services to individual patients. The provider’s arrangement may be with a single physician or a group of physicians who assume joint responsibility for discharging agreed-upon duties. Provider-based physicians may include those on a salary, or a percentage arrangement, lessors of departments, etc. (whether or not they bill patients directly). The services to the patient are known as the professional component. The services to the provid

Tackling Ever Increasing Claim Denials

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  Increasing Claim Denials Recently Kaiser Family Foundation published an analysis of claim denials for various marketplace payers for the year 2020. Under the Affordable Care Act, marketplace payers need to report claims denial data and this analysis used the same data to understand claim denial status. The analysis found that, overall, nearly one out of every five claims submitted for in-network services in 2020 was denied by marketplace payers. However, depending on the payer, average claim denial rates ranged from just 1 percent to 80 percent. Claim denial rates also varied significantly by location, the average claim denial rates were highest in states such as Indiana (29 percent) and Mississippi (29 percent), while rates were just 6 percent in South Dakota and 7 percent in Oregon. This analysis just confirmed ever-increasing claim denials for healthcare providers. Claim Denial Reason Payers denied claims for multiple reasons, among denials for in-network services, about 10 p