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 […]
American Hospital Association, billing, Billing Systemic Reform, Billing Transparency, CMS, healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, Medical Billing Transparency, No Surprises Act, Revenue Cycle, Revenue Cycle Management
So you run a medical practice or healthcare facility. Congrats, you’re doing important work that helps keep people healthy. But have you put much thought into your medical billing workflows? If not, you really should. Billing is the lifeblood that keeps a healthcare operation afloat financially. It’s how you get paid for the vital services […]
AI, Automation, billing, Billing Workflows, Financial Visibility, healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, Medical Billing Workflows, rcm, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization, RPA
Efficient medical billing processes are crucial for maintaining a healthy revenue cycle and to ensure the financial well-being of healthcare providers. With the increasing complexity of payer regulations, coding intricacies, and patient expectations, medical billing workflows can quickly become convoluted and inefficient, leading to costly delays, errors, and dissatisfied patients. Fortunately, through the implementation of […]
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The field of genetics has experienced remarkable advancements in recent years, revolutionizing our understanding of human health and disease. Genetic testing, in particular, has become an invaluable tool in the diagnosis, treatment, and prevention of various conditions. However, the rapid pace of innovation has also brought forth a complex landscape of coverage and reimbursement challenges. […]
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At first glance, medical billing and professional sports seem to occupy opposite ends of the career spectrum. However, there are interesting parallels in how these two worlds operate when it comes to finances, data, and competition. Drawing comparisons between the healthcare administration and athletics provides unique insights that billing professionals can apply to enhance their […]
AI, artificial intelligence, Claim Data, Data, healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, outsourced billing, outsourced medical billing, rcm, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization, sports, sports vs billing
Medical providers face numerous challenges when it comes to getting paid for their services in a timely manner. Between complicated insurance requirements, claim denials, and administrative burdens, it can often take weeks or even months for providers to receive payment. This cash flow bottleneck can put significant financial strain on medical practices and hospitals. One […]
healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, medical billing strategy, Outsource Medical billing, outsourced billing, outsourced medical billing, Revenue Cycle Management, revenue cycle optimization
Medical billing sits at the heart of provider revenue cycles, yet few fully appreciate the complexities billing teams navigate to keep financial flows stable. Between interpreting endless payer policies, wrestling with outdated technology, and managing behind-the-scenes patient communications, it takes specialized skills to turn charges into reimbursements. It serves as the financial backbone of the […]
Healthcare Billing, Healthcare Outcomes, Medical, Medical Billing, Medical Billing Ingredients, Medical Billing Service, Outcomes, outsourced billing, outsourced medical billing, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization, Robotic Process Automation, RPA, Secret Sauce
With nearly 30 million residents, Texas maintains the second largest state population in the country. This burgeoning community includes diverse urban metropolises like Dallas, Houston, San Antonio and Austin as well as remote rural towns and border communities. The variability in patient demographics and healthcare access models across Texas locations generates pronounced impacts on medical […]
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With over 21 million residents, Florida maintains one of the largest and most demographically diverse state populations across the country. This presents unique dynamics around healthcare delivery and insurance for which medical billing service providers must adapt. From an aging population to an influx of northern transplants, to the millions relying on government insurance plans […]
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As healthcare payers implement more rigorous utilization management programs, denial rates on medical claims have been steadily climbing – up to nearly 10-15% on average for practices based on reports. Denials directly impact revenues and practice bottom lines due to the costs of reworking and appealing claims. We offer an overview of building a denial […]
Claim Denials, Denial Codes, denial management, Denial Prevention Strategy, Denial Trends, denied medical claims, healthcare, Healthcare Billing, Medical Billing, Medical Billing Service, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization
The COVID-19 pandemic triggered an explosion in telehealth utilization across healthcare. While telehealth billing processes matured during the public health emergency, new complexities are emerging as virtual care delivery models expand. Practices must stay updated on billing and coding guidelines for telemedicine services spanning video visits, remote patient monitoring, mental health apps, and more. We […]
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For any medical practice, timely insurance reimbursement is essential for financial viability and supporting smooth practice operations. However, elongated claim payment cycles strain cash flow and necessitate borrowing to cover costs in the interim. Below, we explore techniques to accelerate payer payments and optimize the speed of the medical revenue cycle. Diagnosing Causes of Lagging […]
Cash Flow Cycles, healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, medical billing strategy, rcm, reimbursement, reimbursement rates, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization
For medical practices, claim denials have always been a fact of life when dealing with health insurers. However, trends show claim denial rates growing year over year, driven by increased utilization management efforts by payers. Denials directly impact practice revenues and the time/costs tied to appealing denials. Below, we take a gander at the factors […]
Claim Denials, Denial Codes, Denial Prevention Strategy, Denial Trends, Denials, denied medical claims, healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, Revenue Cycle Management, revenue cycle optimization
For modern healthcare practices, efficient and accurate medical billing operations are essential to financial success. However, manual billing processes can be time-consuming, error-prone, and make it difficult to scale. Automating key steps in the medical billing workflow brings game-changing improvements in productivity, reduction of costly claim errors, accelerated revenue cycles, and optimized billing costs. Benefits […]
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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 […]
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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. Covering key strategies and best practices to shorten accounts receivable days, boost patient payments, and strengthen the financial fitness of […]
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Verifying a patient’s insurance eligibility and benefits is a critical first step in the medical billing process. Doing it thoroughly and accurately helps prevent claim denials and delays in payment down the road. We reveal proven techniques to verify eligibility and benefits like a seasoned medical billing pro. Insurance Eligibility Verifying insurance eligibility is crucial in […]
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How do you know your medical billing operation is performing optimally? Key performance indicators (KPIs) and metrics provide the critical insights. By regularly tracking the right quantitative measures, you gain visibility into what’s working, uncover issues early, and identify areas for improvement. We reveal essential medical billing KPIs and metrics every practice should monitor. Why […]
healthcare, Healthcare Billing, Healthcare KPIs, KPI, KPIs, Medical, Medical Billing, Medical Billing KPIs, Medical Billing Service, Medical KPIs, Revenue Cycle ManagementSelecting the right medical billing company is key to ensuring smooth claim processing, optimal reimbursement, and an improved bottom line. As the healthcare revenue cycle becomes more complex, outsourcing to specialists is an increasingly attractive option. Below, we’ll explore why Medwave rises above the rest as the top medical billing service for providers. Deep Medical […]
healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Service, medical billing strategy, medical credentialing, Outsource Medical billing, outsourced billing, outsourced medical billing, rcm, Revenue Cycle, Revenue Cycle Management, revenue cycle optimization, Robotic Process Automation, RPA
In the complex landscape of medical billing, the term “AR Recovery” holds significant importance. This article will delve into the depths of AR Recovery, shedding light on its significance, process, and benefits. Whether you’re a healthcare provider, a patient, or simply curious about medical billing intricacies, this guide will provide you with valuable insights. AR […]
A/R Recovery, Accounts Receivable, Accounts Receivable Recovery, AR Medical Billing, AR Recovery, healthcare, Healthcare Billing, Medical Billing, Medical Billing Service, Revenue Cycle Management, revenue cycle optimizationNavigating the complex world of medical billing requires a deep understanding of Current Procedural Terminology (CPT) codes. For intensivists, accurate coding is crucial to ensure proper reimbursement for the critical care services they provide. We’ll jump into the realm of intensivist billing and explore the key CPT codes that play a pivotal role. Whether you’re […]
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In the realm of medical billing and coding, precision and accuracy are paramount. Hospitalist billing, a specialized area, relies on specific CPT (Current Procedural Terminology) codes to ensure proper reimbursement for services rendered. These codes serve as a universal language that communicates medical procedures and services to insurance companies. In this comprehensive guide, we’ll delve […]
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Understanding Payer Enrollment What is Payer Enrollment? Payer enrollment refers to the process through which healthcare providers, such as hospitals, clinics, and individual practitioners, become registered with insurance payers or healthcare plans. It involves submitting the necessary documentation and information to establish a contractual relationship with these payers. By enrolling with payers, providers gain the […]
Credentialing, healthcare, Healthcare Billing, healthcare credentialing, Medical, Medical Billing, Medical Billing Service, medical credentialing, payor enrollment, Revenue Cycle Management, revenue cycle optimization
In today’s fast-paced world, the healthcare industry faces numerous challenges when it comes to managing medical billing processes efficiently. With the increasing complexity of healthcare systems and the constant changes in regulations, there is a growing need for automation to streamline and optimize medical billing operations. Robotic Process Automation (RPA) has emerged as a game-changing […]
healthcare, Healthcare Billing, Medical, Medical Billing, Medical Billing Robotic Process Automation, Medical Billing Service, Revenue Cycle Management, revenue cycle optimization, Robotic Process Automation, Robotic Process Automation Billing, Robotic Process Automation Medical Billing, RPAIn today’s fast-paced healthcare industry, medical billing plays a crucial role in the financial stability and success of medical practices. However, managing the complexities of medical billing can be overwhelming for healthcare providers. This is where outsourcing your medical billing can be a game-changer. In this article, we will explore the reasons why outsourcing your […]
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