Revenue Cycle Management: Days In A/R (Part 5)
Revenue cycle management is becoming increasingly important as practices find their income numbers dropping after the switch to ICD-10. The drop could also be explained by changes in different insurance policies. Whatever the reason, physicians everywhere are working hard to make sure claims are sent correctly, and payments are being received. For the fifth part…
Revenue Cycle Management: POS Collections (Part 4)
The medical revenue cycle begins at patient registration. Up to 70% of the data a practice needs for billing is giving at this moment. It’s no wonder then, that with the consistent increase in patient payment responsibilities, and rising amounts of bad debt, providers in the healthcare industry are finding it more and more important…
Revenue Cycle Management: Charge Lag (Part 3)
As we continue our series on medical revenue cycle management, we want to highlight the importance of understanding your charge lag. This is especially important as the new ICD-10 coding has come into play. As a company who offers electronic medical billing services, we often see charge lag being overlooked. If you are experiencing a…
Revenue Cycle Management: Credentialing (Part 2)
If you think of revenue cycle management like building a house, payer credentialing is the foundation. If you can’t get the payer credentialing right, you simply can’t get paid. Keeping your credentialing up to date is imperative to getting you paid for your services. As a whole, it’s the payer’s role to challenge and manage…
Revenue Cycle Management: 5 Things To Monitor (Part 1)
Revenue Cycle Management for the medical industry can be defined as processing claims and managing payments and revenue. It includes multiple high-importance duties such as determining a patient’s eligibility, collecting their copays, producing correct coding for a claim, receiving payment for claims, and following up with denied claims. Why Is Revenue Cycle Management Important? As…
Struggling with ICD-10? Here’s How To Cope
ICD-10 is finally upon us, and I think everyone can agree, while it has been a stressful time, we are happy to see it arrive. Yet another delay would have been a little exhausting. That being said, it doesn’t mean that physicians were not underprepared. Are they still alive? Yes. But around the board, it…
ICD-10 Means Big Changes For Mental Health Providers
ICD-10 implementation is now underway, and psychologists, therapists, and psychiatrists are in for a huge change. In fact, they are in for the biggest coding change in decades. With over 55,000 new diagnostic codes, all physicians are likely to feel the pressure. Every single diagnostic code currently being used by therapists practicing ICD-9 will become…
Medical Credentialing Services For Your Practice
Medical credentialing is painfully boring and time-consuming, but absolutely crucial. If medical credentialing is done poorly, it wreaks havoc on a practice. Common credentialing errors cause scheduling delays, fluctuation in revenue cycle, and much more. It’s important to take the appropriate amount of time necessary for credentialing, instead of waiting a month before a new…
ICD-10 and Radiology: What to Expect
Radiology relies heavily on correct front-end data to prevent back-end delays. With ICD-10 implementation approaching, it’s important to address what type of effects these changes will have on radiology. Increases in Billing Codes In a recently published article from the Journal of the American College of Radiology, it was noted that in addition to a…
ICD-10 Is Almost Here! Are You Ready?
ICD-10 implementation is around the corner and the healthcare industry is buzzing. Is the industry ready for such a huge change? What will happen when thousands of providers are all attempting new codes? Will there be a delay in receive payments for claims? Will claims be accepted at all? (Find out what happened when Australia…
