As a leading provider of healthcare services, we understand the importance of an efficient and reliable physician billing solution. Medical billing is a critical aspect of healthcare management, and selecting the right solution can significantly impact the success and profitability of a practice. In this article, we will explore the key qualities that define a […]
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What is EOB in Medical Billing?
In the complex world of medical billing, an Explanation of Benefits (EOB) plays a crucial role in helping patients understand the costs and coverage associated with their healthcare services. An EOB is a document that provides a detailed breakdown of a medical claim, outlining the services rendered, the amount billed, the insurance coverage, and the […]
EOB, EOBs, Explanation of Benefits, healthcare, Healthcare Billing, Medical, Medical BillingUnderstanding the Difference Between Medical Billing and Revenue Cycle Management
In the complex world of healthcare, managing the business side of things can often be overwhelming, especially for those new to the field. One common question that arises is the distinction between medical billing and revenue cycle management (RCM). Although the term “medical billing” has been around for a long time, RCM encompasses the entire […]
CPT, healthcare, Healthcare Billing, ICD, Medical, Medical Billing, Medical Billing Service, medical billing software, medical credentialing, rcm, Revenue Cycle, Revenue Cycle ManagementUnderstanding Medical Billing for New vs. Established Patients
In the world of healthcare, efficient and accurate medical billing is crucial for healthcare providers and patients alike. Whether it’s handling billing for new or established patients, understanding the intricacies of medical billing practices is essential. In this comprehensive guide, we delve into the key aspects of medical billing for new and established patients, exploring […]
Medical Billing, Medical Billing Service, medical billing strategy, Outsource Billing, Outsource Medical billing, outsourced billing, outsourced medical billing, Revenue Cycle Management, revenue cycle optimizationRevenue Cycle Management (RCM): The Key to Optimizing Healthcare Finances
The Key to Optimizing Healthcare Finances through Revenue Cycle Management (RCM) The Importance of Revenue Cycle Management (RCM) for Healthcare Providers’ Success Revenue cycle management (RCM) is a crucial process in the healthcare industry, as it involves managing all aspects of healthcare billing and payment processes, from patient registration to payment collections. RCM is critical […]
healthcare rcm, Healthcare Revenue, healthcare revenue cycle, Medical RCM, Medical Revenue Integrity, rcm, rcm challenges, Revenue Cycle Management, Revenue Cycle Management (RCM), Revenue Cycle Management ConcernsHow Critical is Revenue Integrity in Healthcare?
Is Revenue Integrity Critical in Healthcare? What is Revenue and Why is it Important? The exact wording may vary, but you can look for terms such as “gross revenue,” “gross sales,” or “total sales.” This figure is the amount of money a business brought in during the time period covered by the income statement. The […]
healthcare, Healthcare Revenue, Healthcare Revenue Integrity, Medical Revenue Integrity, Revenue, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization, Revenue IntegrityDallas Medical Billing, Credentialing
Medwave is pleased to offer our medical billing and credentialing services to healthcare professionals in the City of Dallas, TX and nearby communities. In the Dallas area, there a number of outstanding healthcare providers, some of which have been nationally applauded for their excellent performance. Here are the top Dallas healthcare providers named by U.S. […]
Houston Medical Billing, Credentialing
Medwave is pleased to offer our medical billing and credentialing services to healthcare professionals in the City of Houston, Texas and nearby communities. In the Houston area, there a number of especially highly-rated healthcare providers, some of which have been nationally celebrated for their outstanding performance. Here are the top Houston healthcare providers named by […]
Does 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 BillingRobotic Process Automation (RPA)
Robotic Process Automation (RPA) refers to the use of software robots to smartly automate repetitive and rule-based tasks. Within healthcare revenue cycle management, RPA can be used to streamline various tasks such as claims submission, payment posting, and denial management. For example, an RPA system can be programmed to automatically retrieve patient data from electronic […]
Medical Billing Robotic Process Automation (RPA)
Robotic Process Automation (RPA) in Medical Billing What Exactly is Robotic Process Automation? When you come across the term “robotic process automation,” you might think it sounds rather futuristic. However, RPA, as it’s often termed, is a technology being deployed more and more in the healthcare industry, including medical billing. Robotic process automation (software) consists […]
Billing Automation, Billing RPA, EHR, EHR RPA, EMR, EMR RPA, Health Level 7, HL7, insurance, Medical Billing, Medical Billing Automation, Medical Billing Robotic Process Automation, Medical Billing RPA, rcm, Revenue Cycle Management, Robotic Process Automation, Robotic Process Automation Billing, Robotic Process Automation Medical Billing, RPA, RPA BillingWhat is Revenue Leakage and How to Stop It?
Interested in Stopping Revenue Leakage? Firstly, Let’s Define Revenue Leakage “Revenue leakage” describes circumstances wherein a healthcare provider has supplied care to a patient but doesn’t collect payment. In general, it happens when accounts receivable (AR) continue to be unpaid for too long and are inadvertently overlooked. The longer an account receivable remains outstanding, the […]
A/R, healthcare, healthcare denials, healthcare reimbursement, healthcare revenue cycle, Medical Billing, medical billing denials, rcm, rcm challenges, rcm essentials, rcm supportHealthcare Revenue Cycle Management Challenges
Healthcare Practices Face RCM Challenges Healthcare providers of all shapes and sizes are struggling to fine-tune their revenue cycle to adapt to changes in the billing world. Constant changes to the healthcare system have brought about a variety of new challenges for providers and patients alike. This is particularly true for smaller practices who must […]
healthcare rcm, Medical Billing, medical billing software, rcm, rcm practices, rcm support, Revenue Cycle, revenue cycle challenges, Revenue Cycle Management, revenue cycle optimizationHow Does Outsourcing Toxicology Billing Maximize Revenue Collection?
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 […]
billing revenue, Medical Billing, Revenue Cycle, toxicology billing, toxicology lab billing, toxicology laboratory billing, toxicology labsTampa Bay Medical Billing, Credentialing
Medwave is pleased to offer our medical billing and credentialing services to healthcare professionals in the City of Tampa Bay, FL and surrounding communities. Tampa General Hospital is the highest-ranked hospital in the area in the U.S News & World Report’s 2020-2021 Best Hospitals and one of the top four hospitals in the state, with […]
Detroit Medical Billing, Credentialing
Medwave is pleased to offer our medical billing and credentialing services to healthcare professionals in the City of Detroit, MI and surrounding communities. The healthcare industry has deep roots in the Detroit region. In fact, more than half of the health-related businesses in Michigan are located here. With more than 13,000 healthcare-related businesses and approximately […]
Miami Medical Billing, Credentialing
Medwave is pleased to offer our medical billing and credentialing services to healthcare professionals in the City of Miami, FL and surrounding communities. Miami’s Health District is the center of the city’s medical, research and biotechnology industries and, as such, is the home to many of the city’s largest hospital systems. The largest is the […]
Why Outsource Your Substance Abuse Billing?
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 […]
Medical Billing, opioid addiction, Opioid Addiction Billing, Outsource Billing, Outsource Medical billing, Outsourcing Medical Billing, substance abuse, Substance Abuse BillingWhy Outsource Your DME Billing?
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 […]
DME, DME Billing Service, Durable Medical Equipment, Durable Medical Equipment billing, HME, HME Billing Service, Home Medical Equipment, Home Medical Equipment billingWhat Makes Mental Health Billing So Difficult?
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 […]
Behavioral Health, Behavioral Health Billing, ICD-10, Medical Billing, medical coding, Mental Health, Mental Health Billing, Outsource Medical billing, Pittsburgh Behavioral Health BillingHospital Revenue Cycle Challenges
Revenue Cycle Challenges Frequently Experienced by Hospitals Data suggests that many hospitals find it increasingly difficult to scale and guarantee high revenue cycle performance. As we all know, hospitals have a large number of expenses. It’s crucial that they receive prompt patient payments from insurance companies, etc. It’s vital for all hospital departments to work […]
Hospital Billing, Hospital Medical Billing, Hospital Revenue Cycle, Medical Revenue Cycle, Revenue Cycle, Revenue Cycle ManagementBehavioral Health
What is Behavioral Health? Behavioral health refers to the study, diagnosis, and treatment of mental and emotional disorders, as well as substance abuse and addiction. It encompasses a wide range of conditions, including depression, anxiety, bipolar disorder, addiction, and schizophrenia, among others. Behavioral health professionals, such as psychiatrists, psychologists, and counselors, work to help individuals […]
Navigating Fee Schedules and Reimbursement Rates
Few topics get finance teams and medical billing professionals quite as fired up as fee schedules and reimbursement rates. It’s the core of how healthcare providers generate revenue and keep operations humming. At the same time, it’s an arena loaded with complexity, regulatory scrutiny, and often mind-numbing minutiae. If you’re reading this, you’re probably intimately […]
Fee Schedule, Fee Schedules and Reimbursement Rates, Optimizing Reimbursements, reimbursement, Reimbursement Model Shift, Reimbursement Models, Reimbursement Optimization, reimbursement rates, Reimbursement Regulations10 Reasons to Outsource Your Medical Billing
Whether you’re a physician, practice manager, or anyone else charged with overseeing the billing operations for a healthcare organization, let me start by saying – I feel your pain. Medical billing has always been one of the most maddeningly complex, persistently stressful parts of running a modern medical practice. In today’s healthcare landscape, it just […]
billing, billing services, Healthcare Billing, HIPAA, HIPAA Compliant, Medical Billing, Medical Billing and Coding, medical billing services, Medical Billing Tips, outsourced billing, outsourced medical billing, Outsourcing Medical BillingWhat to Expect When Outsourcing Medical Billing
If you’re a healthcare provider, dealing with medical billing is probably one of your least favorite parts of the job. It’s tedious, complicated, and takes you away from your real passion – caring for patients. That’s why many practices choose to outsource their medical billing to third-party companies that specialize in it. But what does […]
billing, Billing AI, Billing Analytics, Billing KPIs, billing revenue, Billing RPA, Medical Billing, Medical Billing AI, outsourced billing, outsourced medical billing, Outsourcing, Revenue Cycle Management