Widespread concerns about the cost of healthcare drove the U.S. government to enact the No Surprise Act. While the law helps make healthcare more affordable and accessible, it poses a significant challenge to healthcare providers. It introduced new accounting requirements to a sector buckling under existing regulations. Failure to meet these dynamic requirements can leave …
How efficient is your medical billing department? Are they effective in collecting your money and maximizing reimbursement? Or are they leaving a huge chunk of your hard-earned dollars uncollected in the insurance claim limbo? What percentage of your claims are over 90 days? 120 days? If your percentages are higher than the industry standards—less than …
In a world where the average medical professional is overworked, a Virtual Medical Assistant (VMA) is just what the doctor ordered. Virtual Medical Assistant services help lighten our workloads without sacrificing the quality of care. With a VMA, we can prioritize the patient’s needs while conforming to all our other obligations. By shifting our focus, …
Understaffed medical facilities with outdated, manual patient access protocols set the stage for poor patient outcomes, such as low satisfaction ratings, decreased staff confidence, and low retention rates. A shortage of patient check-in and registration staff increases errors, and patients become frustrated with long waiting times. Bad perceptions of a hospital’s capability to treat patients …
Efficient patient appointment scheduling makes the operations of any healthcare facility run more smoothly. A patient must have an appointment before a provider can see and treat them. When setting up many weekly appointments, having a sophisticated scheduling system in place is crucial. If it’s time to optimize patient scheduling at your practice, you need …
Revenue cycle management refers to billing for services and collecting revenue for healthcare service providers. Optimizing the billing process is a crucial protective factor to sustain a practice. Billing issues create problems at various points in the revenue cycle, but knowing where some of the most common sticking points are will better inform staff on …
As assessment and diagnostic tools, it is tough to overemphasize the importance of your healthcare practice’s accounts receivable reconciliation, also known as accounts receivable (AR) aging reports. These standard reports offer a comprehensive impression of a practice’s financial status along with Insurance and patients’ aging. There are several reasons accounts receivable aging reports are essential …
Claims denials are avoidable! In fact, 90% of these denials are completely avoidable, and with more effective denial claims management, you can still receive payments for services rendered. If left unpaid, claims denials pose a significant risk to the financial wellness of your practice. We recommend outsourcing medical claims denial management to experienced claims specialists. …
Accounts receivable (A/R) in the healthcare industry is the lifeblood of the facility. Revenue keeps the bills paid and the doors open. It’s vital that staff keep tabs on all A/R processes to see if payers and patients make payments on time. That way, there isn’t an interruption in cash flow for the business. Unpaid …
