If you’ve ever received a medical bill, chances are you were confused, frustrated, or both. The bills are often filled with inscrutable codes, massive dollar amounts that seem to make no sense, and a complete lack of clarity around what you’re actually being charged. It’s a systemic problem in the US healthcare industry that leads […]
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10 Key Medical Billing Challenges and Solutions
The medical billing process is a complex and often daunting task for healthcare providers. From keeping up with ever-changing regulations and coding updates to managing denials and claim rejections, medical billers face numerous challenges that can significantly impact revenue cycle management and the financial health of a practice. In this comprehensive article, we’ll explore ten […]
A/R, A/R Management, Benefits Verification, COB, Coding Accuracy, denial management, HIPAA, HIPAA Compliance, Patient Eligibility, Payer Contracting, Revenue Cycle Management, Revenue Cycle Process, revenue optimization, Timely Claim SubmissionExploring the Integration of ChatGPT in Revenue Cycle Management
As the healthcare industry continues to embrace technological innovations, the integration of artificial intelligence (AI) solutions like ChatGPT in Revenue Cycle Management (RCM) holds immense promise for optimizing financial processes and improving operational efficiency. In this article, we delve deeper into the potential applications and challenges associated with leveraging ChatGPT in RCM. Understanding Revenue Cycle […]
Accounts Receivable, AI-driven RCM, ChatGPT, ChatGPT Healthcare, ChatGPT in Healthcare, ChatGPT in RCM, ChatGPT in Reimbursement, Healthcare AI, Healthcare KPIs, Medical AI, Medical KPIs, OpenAI, Revenue Cycle ManagementMust-have Metrics for Measuring Medical Billing Success
Medical billing is a complex, numbers-driven process. To elevate revenues and efficiency, healthcare practices must constantly measure, analyze and optimize their medical billing and revenue cycle performance using key metrics. The Importance of Analytics in Medical Billing In the dynamic healthcare landscape, data is king. Medical practices that succeed at leveraging data make better decisions […]
CPT Code, healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Analytics, Medical Billing Service, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization, Robotic Process AutomationStrategies for Reducing Accounts Receivable Days and Improving Collections
For any medical practice, keeping accounts receivable cycles short and patient collections high is critical for unlocking the path to financial health. When reimbursement lags become excessive or collection rates decline, financial pressures mount quickly. This comprehensive guide covers key strategies and best practices to shorten accounts receivable days, boost patient payments, and strengthen the […]
A/R, A/R Process, A/R Recovery, Accounts Receivable, Accounts Receivable Recovery, AR, healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, medical billing strategy, Revenue Cycle Management, revenue cycle optimizationUncompensated Healthcare: Charity Care and Bad Debt
Uncompensated Healthcare in the Form of Charity Care and Bad Debt are Painful for Providers Uncompensated care is a widespread pain point for healthcare organizations, rising by just over a billion dollars in 2020 to $42.7 billion. And while it may not be thinkable to get rid of it, there are tactics you can introduce […]
Charity Care, Charitycare, healthcare, Healthcare Debt, Medical, Medical Care, medical charity, rcm, Revenue Cycle Management (RCM), Uncompensated HealthcareEmerging Trends in Revenue Cycle Management
In the wake of months of social distancing and virtual visits during the COVID-19 pandemic, patients are once again veering towards a need to see their physicians in person. As patient volume recovers, it’s a great time to take a look at a healthcare practice’s Revenue Cycle Management (RCM) program and make sure it’s still […]
AI, artificial intelligence, artificial intelligence healthcare, Covid, COVID-19, Data Security, Machine Learning, Medical Billing, rcm, Revenue Cycle, Revenue Cycle Management, revenue cycle optimizationHL7 Standards: Building a Conduit Between Modern Healthcare and Advancing IT
HL7: Building the Connection Between Healthcare and IT What Exactly is HL7? HL7 (Health Level Seven) is a standard for swapping health information between medical applications. This standard identifies a format for the transmission of health-related information. Information transmitted using the HL7 standard is sent as a collection of one or more messages. Each message sends […]
Healthcare Delivery, Healthcare Format, Healthcare HL7, HL7, HL7 StandardsPayer Contracting, What Healthcare Providers Should Understand
Let’s begin with this set-up: Let’s say you’re hunting for a new job and receive a call from a would-be employer informing you that the job is yours. Of course, you’re thrilled by the news and inquire about your starting salary. Your new employer replies that you need to wait for your first paycheck to […]
Credentialing, healthcare credentialing, medicaid, medicare, private insurers, Provider Credentialing, provider networks, reimbursement rates4 Ways to Improve Patient Telehealth Experience
Improving Patient Telehealth Experience Telehealth Assessment Gaining access to healthcare has become even more essential than ever. The COVID-19 pandemic didn’t prevent healthcare workers from discharging their oath and tackling medical issues quickly and properly. In fact, the use and popularity of telehealth expanded significantly in response to the COVID-19 pandemic. An assessment of telehealth […]
healthcare, Healthcare AI, HIPAA, HIPPA Compliant, medical providers, telehealth, telehealth delivery, telehealth experience, telehealth improvements, telehealth services, telehealth software, Telemedicine, telemedicine improvementsVaping and What Healthcare Providers Need to Know
What Healthcare Providers Need to Know about Vaping Both the U.S Food & Drug Administration and the Centers for Disease Control are working determinedly to look into the disturbing occurrences of severe respiratory illness connected with the use of vaping products. Both organizations are diligently working with state and local health officials to investigate these […]
cancer, CDC, e-cigarette, EHR, healthcare, Lung Association, vape, vape pen, vaping, vaporThe Role of AI in Medical Billing and Coding
(AI) Artificial Intelligence in Medical Billing and Coding Example of AI in Medical Billing and Coding Artificial Intelligence (AI) is a hot topic right now with many speculating on how it will change the way we live our lives. In fact, we’ve already discovered that in the medical field, there are numerous ways that AI […]
AI, artificial intelligence, artificial intelligence healthcare, billing, Billing AI, EHR, EHR RPA, Health Level 7, Healthcare AI, HL7, insurance, Medical Billing, Medical Billing AI, Medical Billing Artificial Intelligence, RPAIs Telehealth Here to Stay?
Telehealth, the Provision of Remote Healthcare Telehealth is Useful, but is it Here to Stay? Maybe we really don’t want to talk about it, but truth is, major calamities like the COVID-19 pandemic often lead to innovations in healthcare. As a prime example, the use of virtual care skyrocketed as people – asked to socially […]
Corona, Corona Virus, Coronavirus, Covid, COVID-19, healthcare, telehealth, TelemedicineDoes Artificial Intelligence (AI) Help or Hurt Healthcare Processes?
Artificial Intelligence (AI) in Healthcare Advantages and Disadvantages of Using Artificial Intelligence (AI) in Healthcare No matter the industry, artificial intelligence (AI) has become routine and commonplace. When it comes to healthcare, AI helps practitioners streamline tasks, expand operational efficiencies and simplify complicated medical procedures. AI in medical billing and coding is becoming increasingly more […]
AI, AI healthcare, AI medical, artificial intelligence, artificial intelligence healthcare, healthcare, Healthcare KPIs, Healthcare Outcomes, Medical BillingDoes Medicare Cover (Mental Health Services) such as Therapy?
Are Mental Health Services (like Therapy) Covered Under Medicare? Behavioral / Mental Health Services + Medicare Sometimes it can be problematic for older adults to differentiate indicators of mental health difficulties for typical aging-related changes. They may think that experiencing sadness or anxiety is an ordinary symptom of growing older, particularly when they live with […]
Behavioral Health, Behavioral Health Billing, medicaid, medicare, medicare coverage, Medicare Therapy, Mental Health, Mental Health BillingWhat Does Medicare Cover for Home Healthcare?
Home Health Services + Medicare What does Medicare Cover for Home Healthcare? If you’re looking for an answer to the question, “What does Medicare cover for home healthcare?”, you’ve probably typed it into a search engine and immediately closed the tab. The amount of information and the level of detail can quickly become confusing and […]
healthcare, healthcare services, home health care, home health services, home healthcare, medicaid, medicaid billing, medicaid coverage, medicare, medicare billing, medicare coverageMeeting the Challenge of Revenue Cycle Management
Revenue Cycle Management Challenges If a healthcare provider doesn’t set up an efficient billing process, it runs the risk of losing quite a bit of money. With high-deductible insurance plans becoming more widespread, patients are shelling out additional money out of pocket. Or, if the patient is uninsured or underinsured, problems arise since there’s not […]
A/R, A/R Process, A/R Recovery, Accounts Receivable, Healthcare Billing, Healthcare Outcomes, healthcare revenue cycle, Measuring Healthcare Outcomes, Medical Billing, medical claims, Medical Revenue Cycle, Patient Billing, Patient Collections, Revenue Cycle ManagementWhy Measuring Healthcare Outcomes is Important
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 […]
Common Practice KPIs, healthcare, Healthcare KPIs, Healthcare Outcomes, Measuring Healthcare Outcomes, Medical, Medical Key Performance Indicators, Medical KPIsThe Importance of Ethical Medical Billing Practices
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 […]
Basics of Medical Billing, Ethical Medical Billing, healthcare ethics, Medical Billing, Medical Billing Ethics, medical billing fraud