Successful Patient Collections: Test Your Knowledge

Posted by Nancy Clements on Jan 28, 2022 8:00:00 AM

Consumer healthcare spending continues to rise, not surprisingly due in part to the COVID-19 pandemic. National health spending projections for 2021-23 will continue to inch upward 5.4 percent per year, according to research compiled by the National Health Expenditures Accounts (NHE). Insurers have tightened the reins shifting more financial burden to their members. And with inflation, furloughs, unpaid family leave, and mounting medical and prescription costs, it's no surprise that family budgets are stretched thin.

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Topics: Practice debt, medical practice issues, medical billing, patient billing, patient collections

Why Quality Documentation Matters

Posted by Nancy Clements on Nov 10, 2021 3:45:00 PM
If you work with provider claims in a medical office, then you have probably heard the phrase, “If it isn’t documented, it wasn’t done.” But a 2020 Center for Medicare and Medicaid Services (CMS) report found that more than 70 percent of claims submitted for payment were paid improperly, meaning something was incomplete or missing from the documentation submitted with a claim.
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Topics: carrier contract guidelines, medical billing, Medicare fraud, medicare compliance, patient billing

Tips for Better Revenue Cycle Management in a Medical Office

Posted by Practice Management Institute on May 12, 2021 6:44:51 PM

How would you characterize the success of your medical office? Is it a steady flow of patients, low denials, providers that take an active role in the business, a great clinical and administrative team? How about the financial health of the practice? It’s hard to guide the ship in the right direction when you are too busy plugging holes in the galley.

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Topics: Practice management, Practice cash flow, medical practice issues, financial management, patient billing, patient collections

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