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…
Category: Medical Billing and Co…
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…
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…
Implement ICD-10 Smoothly: Learn From Australia
With less than a month away from the nationwide implementation of ICD-10, it’s important to be thoroughly prepared. Perhaps one of the greatest ways to plan for a perfect implementation is to take a look at the history of ICD-10 around the world. (Save Money: Assess Your Medical Revenue Cycle Before ICD-10) In 1998-1999, Australia…
Medical Billing Services – Assess Your Medical Revenue Cycle Before ICD-10
Medical practices everywhere need to take a good hard look at their medical revenue cycle. The implementation of ICD-10 is around the corner and it’s expected to have a major impact on how revenue cycles are managed. Accounts receivable delays, rejections, and denial rates are all expected to peak. Payment variations that were once small…
Why You Should Ignore the ICD-10 ‘Grace Period’
Correct coding is essential in order to get your insurance billing claims paid. For twelve months after the ICD-10 coding updates, beginning October 1st, Medicare review trackers will not deny any incorrect claim made by a physician or practitioner as long as they were codes within the same family. But what defines family? Why is…
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