3 Financial Mistakes Made by Young Doctors
“Money makes the world go round” – and it can make you go round in circles too, if you make financial mistakes. This is one part of our existence, where even age and experience are no guarantee for...
View ArticleIncrease Your Medical Practice Revenue With These 15 Tips
Times are tough – reimbursements are declining and expenses increasing. Keeping your practice viable in this environment requires being able to identify areas in your medical practice which are...
View Article3 Steps To Creating Your Clinical Documentation Improvement Program
Improving clinical documentation leads to revenue gains and most healthcare facilities are now exploring this program. The main reason for getting into this program is to improve your reimbursements...
View ArticleBest Practices – Clinical Documentation Improvement
All healthcare facilities – irrespective of whether they are a business enterprise or a charitable institution – have to be financially viable in order to continue to provide services. Clinical...
View ArticleCommon Evaluation And Management (E/M) Services Coding Errors
One of the recurring problems facing healthcare facilities is incorrect coding of Evaluation and Management (E/M) Services. The recent CERT (Comprehensive Error Testing) claim review analyzed by WPS...
View Article3 Things You Need To Know About Medicare Audits
Healthcare facilities across the nation have or will have to face Medicare audits at some point. Even those healthcare facilities that have done everything correctly and have never had to face an...
View ArticleRAC Audit Preparation Tips
The increase in audits has made them more of a rule than an exception. Each year, approximately 9% of physicians undergo a RAC audit. According to projections, within the next eleven years, every...
View ArticleOutpatient Practices & The Fear Of RAC Audits
Ever since the RAC audit has been introduced, there is an element of fear amongst healthcare facilities with regards to the RAC program. Fuelled by rumors and myths, most of these fears have been...
View ArticleFalse Claim Act And The Healthcare Industry
Starting August 1, 2016, the penalties under the False Claims Act (FCA) along with the Anti-Kickback Act, The Program Fraud Civil Remedies Act and a host of other Acts have nearly doubled to a minimum...
View ArticleRevenue Cycle Analytics Improves Claims Submissions
Healthcare revenue cycle management has undergone a radical and drastic change in the last decade. From days when most patients had $20 or so as co-payments and insurance companies paid claims in full,...
View ArticlePre-planning In Patient Care Can Save Your Practice Money
Physicians educate and train themselves to practice medicine and impart health care to the populace. However, a large part of their daily lives is spent tending to administrative tasks – something that...
View ArticleTop Medical Billing Issues that Affect Revenue Cycle
Healthcare providers face significant challenges when it comes to handling their medical billing processes effectively. The management of revenue cycle in the medical field requires accurate and...
View ArticleAre You Monitoring These Key Revenue Cycle Metrics?
Revenue cycle management throws up tons of data for tracking. However, not everything requires regular tracking and measuring. While it is important to look at all the data derived from the system...
View Article10 Tips on Physician Credentialing
Your credentialing process needs to start well in advance if you are planning to start your own practice or bring in new doctors to your existing practice. It is important to understand how...
View ArticleRevenue Cycle Management Made Easy
A successful medical practice can flourish only when it is doing well financially. Incorporating robust billing practices and ensuring the adherence to updated medical billing codes is thus of...
View ArticleEffective Physician Credentialing Tips
The process of physician credentialing is an important task that a health care institution has to undertake when hiring a new doctor. It is essentially a process that entails verifying a physician’s...
View ArticleAn Overview of Revenue Cycle Management
Revenue cycle management (RCM) refers to the financial process of keeping track of a patient’s expenses during their stay at the healthcare facility. The health care facility employs the use of...
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Understanding Net Collection Rates
Understanding net collection rates will help you to gain a better understanding of how much money that is owed to your practice is collected. Calculating your collection rate is quite simple, but it...
View ArticleEfficient Provider Credentialing
To provide the best possible healthcare to your patients, it is important that your healthcare providers are up to the task. But, how can you ensure that the healthcare providers you hire are competent...
View ArticleFalse Claim Act And The Healthcare Industry
Starting August 1, 2016, the penalties under the False Claims Act (FCA) along with the Anti-Kickback Act, The Program Fraud Civil Remedies Act and a host of other Acts have nearly doubled to a minimum...
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