Measuring Healthcare Outcomes Healthcare Practice Key Performance Indicators Matter So, your healthcare practice is running smoothly. You’ve hired fantastic people, followed a marketing plan, placed the right technology and your patient retention policy is in full swing with a low churn rate. Things are going great, right? Well, there’s no way of really knowing for […]
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The Reasons Why a Medical Billing Assessment is Needed Medical Billing Assessments Running a healthcare practice means keeping a tight ship for the sake of your patients and your reputation, as well as your financial well-being. But, let’s face it, practices are only as successful as their medical billing performance. If you have a prosperous […]
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Outsourced COVID-19 Testing Billing Advantages COVID-19 Testing Scenario Jude Hunt, 81 years old, said she waited in line for her second PCR test a few weeks ago after her vaccinated housekeeper tested positive for COVID-19. She said she previously contracted COVID herself and received the vaccine, but added, “After the last two years, I’m not […]
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The Gravity of Ethical Medical Billing Practices The Hypothetical Case of Dr. Michael Stevens’ Unethical Medical Billing Behavior The case of Dr. Michael Stevens is an illustration of the worst-case scenario when unethical behavior impacts medical billing. An anesthesiologist and owner of a pain management clinic, Dr. Stevens was obliged to relinquish his medical license […]
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7 Strategies to Maximize Patient Collections Any medical provider knows how difficult it is to get paid for their services. 73 percent of healthcare providers assert that it takes 30+ days to recover their payment fully. Various issues like complicated billing procedures, changing payer fee schedules, employee attrition, government directives, lack of training and resources […]
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Understanding Medical Billing Myths Dr. John Smith owns a small practice in Pittsburgh’s South Hills. He’s in the midst of a conversation with one of his nurses. Nurse: “Doctor, do you think we should be posting signs concerning the payment of co-pays once the patient is finished with their appointment?” Doctor: “I agree to a […]
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Patient Flow Increases Revenues No longer can healthcare practices rely on the single appointment and waiting room process. Managers of healthcare practices of all types and sizes increasingly recognize that effective patient flow is key to increasing revenue and improving efficiency for the practice as well as providing a positive experience for the patient. As […]
Medical Billing, medical patient flow, medical patients, patient flow
Healthcare Practice Revenue Affected by Medical Billing Issues Let’s say a patient comes in and gives you his or her Medicare card. The front desk carefully records the information and billing submits the charge to Medicare. But the claim is rejected, maybe even from the clearinghouse. The problem? The patient thinks he’s simply on Medicare, […]
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Healthcare Practices Save Money with Higher Accuracy of Medical Claims Reimbursement for medical practices has been impacted by numerous trends and healthcare industry changes over the past five to ten years. Medicare and Medicaid are constantly cutting physician reimbursement, third-party payers (UnitedHealth, BCBS, Humana, Anthem, Aetna, Cigna, etc.) have bargained for fee-for-service contracts with healthcare […]
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Outsourcing Toxicology Billing Maximizes Profit As a supplier of toxicology testing, you’re well aware that medical billing for toxicology laboratory work is highly complex and undergoes frequent and often unpredictable changes. Further muddying the waters, lab testing work is an area of attention and scrutiny by agents for the Office of Inspector General and the […]
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Top Medical Billing Companies 2021 by SuperbCompanies We are excited to announce that Medwave Billing & Credentialing has been named one of the top Medical Billing Companies 2021 by SuperbCompanies. With more than 20 years of experience, we have accumulated many accomplishments, and each award is special for us. A huge team of experts works […]
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Medicare, Medicaid Fraud Examples and Steps to Ensure You Don’t Commit It A medical doctor invoiced his patient’s Medicare insurance for both the services he actually delivered and for services that were not delivered. He fabricated his patient’s medical records to indicate office visits and treatments that never took place. A gerontologist obtained the outcomes […]
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Medical Billing Service Costs How Does Pricing Work in Medical Billing? The most familiar question medical billing companies hear, “What are your prices?” It’s an entirely reasonable question. After all, price is a sizable component in any business decision. In in the undermentioned content, we’ll try to clarify some of the misunderstandings surrounding medical billing […]
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The Basics of Medical Billing As a healthcare provider, you wear quite a few hats. Chances are medical billing might be one of them. But is there a better way? Let’s discuss the advantages for your healthcare practice to consider outsourcing to a professional medical billing company. An Understanding of Medical Billing Medical billing is […]
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Medical Billing and Credentialing Made Easy “There just has to be an easier way to perform our billing and credentialing.” If you’ve had to perform your own billing and credentialing, you know exactly what we’re talking about. For any number of healthcare practices, in-house billing and credentialing is an unpleasant, yet necessary, chore. This is […]
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Allergy Billing Options The complexities of allergy billing Allergy immunotherapy (aka allergy shots) is the recurrent administration of specific allergens to individuals with immunoglobulin E(IgE)-mediated condition. The goal is to reduce or stop the allergy by diminishing the strength of the IgE response. These treatments, being patient specific, can have serum mixed for up to […]
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Behavioral Health Billing Case Study Type of Practice: Behavioral Health Group The Challenge: A successful behavioral health practice approached Medwave to manage their billing process. Up until now, they were performing their own billing in-house using various staff members who had had some formal training. However, they were finding that these staff members were spending […]
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Health Insurers and Prior Authorization Like sands through the hourglass, so are the days of prior authorization “This procedure will require prior authorization.” Words that no patient or healthcare provider wants to hear when they are ready to proceed with a doctor-approved procedure for a medical matter. However, it’s one of the utilization management tools […]
health insurance, healthcare, healthcare providers, Medical Billing, medical credentialing, medical practice, prior authorization, utilization management
COVID-19 Billing for Lab Testing The federal government announced a Public Health Emergency in response to the COVID-19 pandemic, effective January 27, 2020. While the healthcare industry has been continually adapting to new information and new regulatory challenges, one thing that has stayed constant is the need for rapid, frequent and reliable COVID-19 lab testing. […]
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Are You Committed to Outsourcing Your Substance Abuse Billing? So, you’re determined to outsource your substance abuse billing. That’s a smart move, since you’ll save time and ultimately money. After all, no one gets into the substance abuse field because they want to wade through the insurance industry bureaucracy. No, you became substance abuse specialists because […]
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Billing and Coding Partner for Healthcare Medwave is a premier provider of medical billing and coding services. But, exactly why are billing and coding so important and how can Medwave help your healthcare center perform these functions? It’s certainly no surprise that the healthcare business is thriving, and its growth is projected to endure well […]
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Billing & Payment Processing for Medical Marijuana Cannabis A Proven Commodity Marijuana Cannabis is projected to be one of the fastest-growing industries over the next decade. Worldwide cannabis sales more than tripled, from $3.4 billion to $10.9 billion between 2014 and 2018, and Wall Street has forecast that sales will grow $30 billion by 2025. […]
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Outsourcing DME (Durable Medical Equipment) Billing In a constantly growing healthcare industry, Durable Medical Equipment (DME) have become an increasingly popular choice of healthcare-related services to millions of patients nationwide. In fact, a recent survey performed on the DME products industry found that the market would grow significantly over the next 10 years. With the rising […]
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Medical Credentialing is Crucial for Healthcare Providers; Here’s Why Truth is, many patients know little more about their physician’s qualifications than what they see neatly hanging from their office wall. While they’re able to access in-depth background information about their auto mechanic, it’s when they are at their most vulnerable, entrusting their family’s health to […]
Credentialing, healthcare credentialing, in-network, insurance companies, medical credentialing, medical provider credentialing, payor contracting, payor enrollment
Vexatious Aspects of Mental Health Billing Let’s face it, the healthcare industry is vast and complex, even more so for mental health providers. This is especially true when it comes to the billing process. The variety in the types of services, the time, scope and restraints put on mental health treatments make the billing process […]
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