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Medical Billing News and Articles

Fine Tune Your Revenue Cycle With a Thorough Billing Assessment

One major challenge of medical practice management is balancing excellent patient care with the necessity to run an efficient business. Last month we talked about how benchmarking can give you an overall picture of your practice’s financial health while establishing financial goals to strive for. Another important process that should be performed yearly (at a minimum) is a thorough billing assessment. Put simply, billing assessment involves examining your practice’s revenue

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Five Questions to Ask Your New Medical Billing Company

In the days before HMOs and PPOs, deductibles and co-pays, a satisfied patient might have paid his doctor by bartering a service (such as a carpenter fixing their doctor’s creaky porch), presenting baked goods, or offering whatever cash they could muster up. While it would be lovely to barter a transmission rebuild for an endoscopy, the U.S. healthcare system doesn’t work that way. As modern and complex as today’s medical

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Five Reasons To Do A Medical Billing Assessment

Medical practices are only as successful as their billing department. If you have a thriving practice but want to review or improve certain aspects of your business, a medical billing assessment can be a big help. Running a medical practice involves keeping a tight ship, for the sake of your patients, your reputation, as well as your financial health and stability. Here are five reasons to do a medical billing

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Get Billing Services from ProMD

Enhance Returns with Billing Services from ProMD By working with an external specialist, medical companies can improve upon their returns for their billing processes. It’s important to work with a company that has experience in billing services and payment management, to ensure payments are made quickly and to gain a higher return from past due bills. Working with a specialist such as ProMD allows medical companies to focus on their

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Evaluating Your Revenue Cycle

Does Your Revenue Cycle Need Maintenance? Many physicians are experiencing a conundrum. They are working longer hours but not making more money. It is a fact that medical practice expenses are on the rise, and insurance payments are shrinking while compliance parameters are increasing. Add to those the problems of inefficiency and the challenges of new technology and it is no wonder doctors feel over worked and under paid. But

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Medical Billing Reports: Accessing Your Medical Billing Software

When it comes to running your practice, it’s extremely important that you have access to billings and collections software so that you can run reports. You should be checking your billing and collections reports regularly in order to keep track of the financial health of your practice. Your reports can tell you whether or not claims are being paid in a timely manner, how well you’re being paid by insurance

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How can a HIPAA Audit and Assessment Help a Practice?

It can take months, sometimes years to gain the trust of your patients and your community. Securing your reputation as a provider who is careful and conscientious – not only medically competent but also respectful of privacy and security – can be a hard-fought victory. With healthcare and personal identification data, physical and IT security, and financial information all being a target by bad players, ensuring HIPAA compliance has never

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How Outside Medical Billing Can Streamline Your Practice

Changes are constant in the ever-evolving landscape of the medical industry. Regular updates to coding and regulations are to be expected. If your medical practice has frequent issues with accuracy and compliance, you could be setting yourself up for an audit. This may not only affect your reputation in the medical community, but also cause you to incur costly fines. Fortunately, there is now another option: Outsource your medical billing

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How Revenue Cycle Outsourcing Has Changed

Although there have always been a few detractors from the idea of revenue cycle outsourcing, it continues to be something that practices of all sizes are doing in order to free up in-house resources and to streamline the efficiency and effectiveness of their practice overall. However, there have been a lot of changes over the years when it comes to the role of revenue cycle outsourcing. First of all, more

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How to Achieve Optimum Billing Performance

Billing can be a very complicated process, but it’s one that is vital to the success of your practice. There are a number of potential problems that can result in claim denials, which will, in turn, hurt your ability to maximize your collections. The following are some of the common billing issues that practices run into and how they can be resolved in order to achieve optimum billing performance: The

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