Due to the COVID-19 pandemic, medical practices are experiencing a loss in revenue stream as patient traffic has reduced in clinics and hospitals and patients are canceling non-emergency appointments due to the fear of catching the virus at the doctor's waiting room. You might be thinking to outsource your revenue cycle management to a third [...]
Hospitals and healthcare providers deal with a lot of unnecessary and excessive administrative burdens which can result in reduced patient care and lower patient outcome levels. National data reveals that 50% of the medical workforce and staff members are burned out which is due to the administrative burden which also increases healthcare costs. Too many [...]
What is Medical Billing? Medical billing is a financial procedure of the submission and following of claims with health insurance companies in the United States to receive payments. Traditionally medical centers, hospitals, and clinics used paperwork systems to handle billing processes. With advancements in technology healthcare systems have adopted the Medical Billing Electronic Medical Records [...]
Healthcare providers often wish that their Revenue Cycle Management process (RCM) would give a 100% rate of claims payment and 0% of claim rejections, but this is not true in the real financial world. However, the good news is that RCM processes can be fortified by recognizing any issues beforehand for the cycle to run [...]
The power of data analytics cannot be underestimated in the healthcare sector as it has revolutionized the way hospitals operate by enhancing the patient care process, reducing treatment costs, and predicting disease outbreaks. Due to all these benefits healthcare professionals want to optimize data analytics to provide them with complete value. Therefore practitioners need to [...]
Being a small and independent clinic with a few providers you may have experienced billing and coding issues which may have resulted in lower revenue and a reduction in collection rate. Today's medical billing procedures are complicated and usually, clinics are okay with low reimbursement rates as revenue cycle management seems like an intimidating task. [...]
Improving healthcare outcomes is one of the major goals of doctors and healthcare organizations. To keep patients satisfied with high-care delivery athenahealth and Humana have decided to collaborate by adding value to their members through athenaClinicals Electronic Medical Records (EMR) software system. The integration will help support physician decision-making at the point of care which [...]
Expert and robust Revenue Cycle Management (RCM) Software services can help support clinicians spend more time with their patients and their care process and worry less about getting paid. RCM solutions help to enhance your financial performance to maintain a steady revenue stream which is especially crucial in times of COVID-19. With the outbreak of [...]
Hospitals and healthcare providers deal with a lot of unnecessary and excessive administrative burdens which can result in reduced patient care and lower patient outcome levels. National data reveals that 50% of the medical workforce and staff members are burned out which is due to the administrative burden which also increases healthcare costs. Too many [...]
Claim denial continues to remain a big issue for hospital systems and healthcare providers in the United States. Denials result in lost revenue and even if denied claims are recovered there are costs associated with them. Recent data revealed that the recovery cost was $118 per denial. Practices that are able to avoid denied claims [...]