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Medical Billing News and Articles

Expert Collection Services with ProMD

The Elements Required for Effective Billing and Collection Services Your practice can run more efficiently with guidance from trusted billing and collection services providers. But oftentimes it can be difficult to find that ideal partner for managing the billing cycle within you practice. To guide you on the available options and on how to make the right decision for your firm, our team at ProMD highlights the elements required for

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Medical Billing Services Should Work Alongside Your EHR

There are a number of excellent Electronic Health Records (EHR) systems on the market with sophisticated features that help simplify record management and collections. When used to its fullest potential, EHR provides information to a network of health care providers, allowing them to access and share information. This fosters a team effort that greatly benefits the patient and the Practice. From an operations standpoint, EHR streamlines the patient visit as

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medical billing tips from the pros

Medical Billing Tips from the Pros

Medical Billing Tips from the Pros Few would argue that an efficiently run revenue cycle is crucial to the health of a medical practice. In the healthcare industry we have to deal with the added challenge of, more often than not, being paid by a third party long after the patient has been treated. Furthermore, if a claim is denied by the patient’s insurance company, it will be costly and

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medical practice outsourcing services

Medical Practice Outsourcing Services

It can be a real challenge trying to juggle the many tasks that need to be done behind the scenes at your medical practice when all you want to do is focus on your patients. It’s why many medical practices end up outsourcing various services, from billing and collections to credentialing. Here at ProMD, we provide practices with these services, allowing them to free up resources, increase the efficiency and

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Understanding the Changes in Medicare Cards

Recent high-level security breaches in the U.S. Voter Database, National Archives, and the Office of Personnel Management left more than 250 million Americans at risk of compromised data and identity theft. As hackers and identity thieves become more resourceful security can become more vulnerable, so government agencies are taking extraordinary precautions to protect our medical, financial, and personally identifiable information (PII) from those who would seek to compromise it. The

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Methods to Increase Your Front Desk Collections

Collecting patient financial responsibility (e.g. co-payment, co-insurance, deductible) at the time of service is something all medical practices should do. However, doing so isn’t always possible, whether it’s because the patient doesn’t have the money required for the co-payment or because your office was understaffed at the time. if this happens regularly, it can cause you a lot of long term collection and medical billing issues. The following are four

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Key MGMA Medical Billing Benchmarks

The Medical Group Management Association (MGMA) standards are an authoritative reference point for performance in the medical industry. Medical practices can use these standards to establish and track key performance indicators (KPIs) for improved outcomes. Medical billing is one aspect of daily operations where MGMA benchmarks are especially useful, as they clarify what success looks like in this challenging area. This guide will explain seven key MGMA KPI benchmarks for

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More Profitable Medical Practice Management

We can count on the cost of providing quality medical care to continue to rise even while having to face forces that lower reimbursement to providers in the healthcare industry. It is easy to get caught up in the day to day operations of your medical practice management and lose your focus on the financial health and trajectory of your practice. Take some time every month to examine the bottom

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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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