Medical billing and coding services is a critical component of a medical practice’s profitability, yet so much income goes overlooked and undiscovered. While your primary focus is caring for your patients as well it should be, it’s important to remember you are also running a business.
Category: medical coding and bil…
Medical Billing and Coding Services – CMS Update on MIPS
An Important CMS Update on MIPS Participation Under pressure from the MGMA and other physician advocacy groups, CMS will be sending letters to physician practices throughout the month of May with important, practice-specific information regarding eligibility to participate in the Merit-Based Incentive Payment System (MIPS) at the group/individual level for the performance year 2017.
Making Sense of MACRA/MIPS
If you are like many providers, you were probably just getting used to the CMS programs PQRS and Meaningful Use when they passed their latest payment reform policy—MACRA. Now, you may find yourself confused and concerned with how this new program will affect your practice.
ICD-10: Holiday Edition
Attention physicians and medical professionals- the holidays are upon us. Fear not; we have you covered with an ICD-10 cheat sheet listing a few codes you may see throughout the season.
Medical Auditing
Have you found yourself thinking of ways to improve your healthcare organization? Updating your clinical documentation through medical auditing is the best way for improvement. An audit assists in detecting incorrect coding practices and it could be considered by federal agencies when questioning if steps were taken to avoid and detect fraud and abuse. What…
Physicians- What Is Your Hospital Value?
What is your value to your hospital? Merrit-Hawkins, a national physician search firm, recently released a study regarding physician referral impact as it relates to revenue for hospitals. For the study, researchers from Merritt Hawkins asked hospital CFOs to quantify the amount of revenue physicians in 18 different medical specialties generated for their affiliate hospital in the…
Electronic Payment Posting
Many practices are utilizing electronic payment posting and many insurances now use this as their only form of receiving payment. There are still several practices that have not taken advantage of this process. If your practice has not adopted electronic payment posting, consider these points: • As stated above, many insurance companies are using this…
Happy Patients, Happy Practice
Patient Interaction The medical staff has face-to-face interaction with the patient while the billing team is typically behind the scenes. First-hand interaction with the patient is a prime opportunity to get all information that is needed for a successful revenue cycle. Once the patient walks out of the office, chances of obtaining that information decrease…
Deductible Season: How to conquer your Cash-flow
It is that time of year once again and, while the New Year may bring new patients and new cases to your practice, it comes with a caveat: Deductible Season. If your practice does not already have a strong system in place for collecting Place-of-Service (POS) payments, you may have noticed an increase in your…
Patients Becoming Consumers
Healthcare is a basic necessity for all, but it is often an added expense that millions cannot afford. Providers continue with efforts to lower costs for high-quality care, but patients still face the bulk of the financial responsibility for their care. Consequently, patients are becoming active consumers. Providers now face the feat of catering to…
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