Top Three Features of Practice Management Systems

Practice managers play a crucial role in helping physician offices run smoothly. Doctors are responsible for multiple administrative tasks along with patient care, making it nearly impossible for them to manage their practice without assistance. In addition to implementing programs and procedures to improve operations efficiency and managing overall operations of the practice’s business functions,…

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Surprise_Medical_Bills

Surprise Medical Bills and New Legislation: An Overview

Surprise billing has been a bipartisan focus for the United States government for a couple years. Most Americans support legislation to protect patients from these costly yet often unexpected fees. Although multiple states have adopted comprehensive legislation to mitigate surprise billing, there wasn’t any such statute on the federal level – until recently. On December…

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Transparency

Three Keys to Improving Patient Collections

Rising out-of-pocket medical costs and high deductibles are challenging issues for many individuals in the United States. The following numbers show just how much of a problem high healthcare costs are for consumers: The average individual health plan deductible is approximately $4,300. The average family health plan deductible is about $8,300. An estimated 40 percent…

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medical_billing

Transitioning to a Single-payer Healthcare System: Positive Change or Predictable Challenges?

The United States healthcare system is fraught with problems. Even after the enactment of the Affordable Care Act (ACA), 12.5 percent of Americans are uninsured, and almost 45 percent are inadequately insured. Healthcare spending has reached almost $4 trillion (about $11,582 per person), even though it was down .5 percent in 2020 due to the…

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kpi

The Top KPIs to Track for an Optimized Revenue Cycle

Methods used in the United States to measure quality vary by industry. The country’s food supply, human and veterinary drugs and multiple other products are regulated by the Food and Drug Administration (FDA). The Environmental Protection Agency (EPA) oversees national efforts based on the best available scientific information to reduce environmental risks. The Federal Communications…

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Achieving Administrative and Financial Benefits Through Outsourced Medical Billing

The United States spends a staggering $3.6 trillion annually on healthcare. U.S. payers and providers drop approximately $496 billion on billing and insurance-related (BIR) costs each year. That’s an immense amount of money dispensed in one industry. Providers continually strive to achieve the highest level of reimbursement possible to procure their part of the country’s…

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Top Trends in Medical Billing

Medical billing has been an essential part of reimbursement in healthcare for decades. The professionals in this industry, though, used to either draft necessary documents by hand or use a typewriter. Not only was this manual process extremely time-consuming, it led to inaccuracies and other medical errors. Technology has certainly transformed the medical billing industry…

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Everything You Need to Know about Telehealth Billing

Telehealth has been in the national media more often during the past few months due to the COVID-19 pandemic. However, even before the novel coronavirus outbreak hit the United States, approximately 76 percent of U.S. hospitals connected with patients and consulting practitioners at a distance through telehealth. Although telehealth often is used interchangeably with the…

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Keeping Clients in a Crisis

Client retention is always an important part of business, but when the economy isn’t doing well this becomes imperative. COVID-19 has shut down or slowed down many providers’ offices which has given doctors plenty of time to look at their books and make changes if they don’t like what they see. While this provides a…

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Hospital Price Disclosure

Healthcare has long been known for asymmetrical information. Patients see a doctor, whether at a clinic or hospital, yet they rarely know when going in how much the visit will cost them. Over the past few years, CMS has been working to close this information gap, requiring hospitals to disclose prices for their most common…

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