Should You Create a Sliding Fee Schedule for Your Practice?
Without exception, every medical practice faces issues related to patient payments. The challenges vary – ranging from patient financial hardship to lack of insurance to high deductibles, coverage gaps, and so many more.
3 New Strategies for Patient Acquisition
By creating a website, maintaining a Facebook page, and keeping your online contact information up-to-date, it’s fairly easy to make sure patients in need can find and reach your practice. And by supplementing those efforts with a bit of paid advertising or search-engine-optimization services, you can be more likely to stand out online compared to competing practices in your community.
Risk Adjustment: Could Your Coding Strategy Be Hurting Your Practice?
As the healthcare industry moves away from the traditional fee-for-service model and over to an increasingly value-based landscape, the role of coding is becoming more important than ever. And you don’t need to take our word for it; some high-level folks in the government are speaking a lot louder than we are.
5 Reasons Why a Medical Billing Firm is Your Practice’s Best Ally
As for any thriving business, your in-house people are your practice’s best asset. But no matter how talented and capable your personnel may be, they’re not enough to help your medical office navigate the ever-changing landscape of the healthcare industry.
EHR Implementations: What Works? What Doesn’t?
In 2017, some medical practices have more experience with EHR implementations than they’d care to. After first deploying solutions around the dawn of Meaningful Use (circa 2011), many have moved on from their initial selections.
Net Collection Rate: Understanding Your Practice’s Most Important Metric
For physician practices and their medical billing firms, net collection rate has always been a metric with huge implications for financial success. But in today’s healthcare environment, it’s more important than ever before.
Which Medical Billing Metrics Should You Measure? 5 KPIs for Your Practice
In a recent post, we called the net collection rate your practice’s most important metric. And we stand by it!
Since the net collection rate measures just how much money you receive against funds owed for services rendered, it speaks to the success of nearly every aspect of your practice.
3 Tips for Minimizing Your Medical Practice’s Cybercrime Risks
Security-, privacy-, and cybercrime-related concerns are especially problematic for medical practices. In the event of a breach or data theft, it’s not just the healthcare organization that gets affected – it’s potentially every one of their patients (not to mention their business partners, contractors, employees, and so on).
Medical Debt Reality Check: Unpacking New Findings on Patient Responsibility
Inside almost any medical practice, patient collections are an ever-present concern. Since the priority of collecting every dollar from non-paying patients can consume the day-to-day efforts of practice managers and their medical billing teams (or medical billing firms), the issue often gets outsourced to medical collections agencies.
Medicare Fraud: Doctor Convicted for Multi-Million Dollar Scheme
Instances of fraud in the U.S. healthcare system are anything but rare. Across the entire medical billing landscape, estimates put amount of health care expenditures lost to fraud between 3 and 10 percent.