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Medical Practice Trends to Increase Profitability

Harold Gibson

When it comes to increasing the profitability of your medical practice, it is of the utmost importance that you understand which trends to follow. You’ll also need to keep yourself up to date with today’s latest regulations. Here are a few tips you can follow to ensure your medical practice is achieving its full potential in regards to healthy profit levels.

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Topics: Medical Billing

ICD-10 Codes Implementation for a Dermatology Practice

Harold Gibson

dermatology_and_ICD-10-1With less than two months left before the extended ICD-10 implementation deadline of October 1, 2015, many dermatological practices are still grappling with making the transition from working with approximately 9,000 codes to over 22,000 codes when the code requirements will change – literally - overnight.

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Topics: ICD-10

The Impact of ICD-10 on Nephrology Medical Billing

Harold Gibson

Nephrology, along with pediatrics and cardiology, will be harder hit than other specialties during the ICD-10 transition. The National Kidney Foundation states that 26 million adults have chronic kidney disease (CKD). Nephrology with see significant changes to coding. Errors in application of new coding can impact the billing of your patients. Take steps to learn the coding and prepare for a smoother transition.

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Topics: ICD-10, Medical Billing

8 Key Points about Medical Billing & ICD-10 Transition

Harold Gibson

Keeping a practice running can seem like a herculean task. Throw into the mix new coding system of approximately 68,000 codes that needs to be learned and applied correctly for your specialty and it becomes no small wonder that the majority of healthcare facilities are ill-prepared for the transition to ICD-10. According to an ICD-10 physician readiness poll from Medical Economics, 62 percent of physicians are ill-prepared for the ICD-10 codes while preparing their medical claims. ICD-10 is coming and preparation for the October 1st compliance date must occur in order to not overwhelm medical billing staff functioning when the time arrives. Keep in mind the following information when preparing a plan for the transition for your medical practice.

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Topics: ICD-10

5 Simple Steps to Reduce Account Receivable for Your Medical Practice

Harold Gibson

Benchmarking AR objectives isn’t as difficult as many medical billing professionals think, if you approach the task with the proper tools and vision. Your accounts receivable (AR) assets are a living, breathing organism that is constantly evolving. Every transaction throughout the day increases or decreases the distance to the imaginary finish line, that magic number your accountant establishes as an acceptable outstanding balance.

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Topics: Medical Practice Revenue

About this blog

A place for physicians and other healthcare RCM stakeholders to share and discover information about everything related to medical billing and ways to increase revenue.

Founded in 2002, M-Scribe is a full service Revenue Cycle Management (RCM) Company. We provide all types of claims billing services integral to healthcare delivery system.

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