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Using Analytics Tools to Identify Revenue Leaks in Medical Practice -3

Harold Gibson

In previous blogs, we took a look at some of the more common ways practices lose money. Front desk omissions and errors, billing mistakes and unread/ misinterpreted EOBs are among the most common, but even when a practice conscientiously tracks its revenue cycle, whether manually or through its EHR system, errors and gaps can occur. Here are a few ways to find and fix them as we tie this information together with the previous blogs.

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MACRA updates for the Smaller Practice

Patrick Dougherty

There’s some good news on the horizon concerning MACRA rules replacing Meaningful Use and PQRS programs as they affect smaller practices.

Earlier projections from CMS using data from its previous 2014 reports predicted that as many as 87 percent of solo practices could face a negative adjustment equaling a total loss of $300 million in the first year of MACRA. For practices with 2-9 clinicians, the numbers weren’t much better.

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Topics: emr

Payer Issues Result Revenue leaks in Medical Practice -2

Harold Gibson

In the previous blog, we discussed how information gaps and missteps in the front and back offices may contribute to loss of revenues. This week’s blog is devoted to taking a closer look at what are probably the biggest headaches for many providers: the payers. Between variances in contractual agreements as well as changes in covered charges, tracking multiple payer obligations is at best challenging and at worst, frustrating and expensive. Here are a few suggestions to improve your payer relationships and reimbursement rates.

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Topics: medical billing process

Efficient Claim Processing to Improve Medical Billing Process

Patrick Dougherty

The passage of the Health Information Portability and Accountability Act (HIPAA) in 1996 standardized electronic claims for the healthcare industry. This submission method has been widely adopted and was used by more than 92 percent of healthcare providers in the United States in 2013. This trend clearly shows the great majority of providers recognize the superior accuracy, efficiency and speed of electronic submissions over manual methods. However, obtaining the maximum benefits from electronic claims requires providers to follow a number of best practices in the preparation, submission and follow-up phases of this process.

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Topics: medical billing process

Identifying Revenue Leaks in Medical Practice – Part 1

Harold Gibson

As the first installment of a three-part series uncovering revenue leaks in medical practice, this blog will focus on front desk and medical billing processes and procedures with suggestions for improving performance. 

Missing payments from any number of sources can reduce a practice’s revenue to the tune of thousands of dollars annually. While busy practitioners and their staffs may think that there isn’t the time or personnel to monitor, let alone fix, the problem areas before financial damage is done, nothing could be further from the truth. Here are a few examples of what omissions or carelessness can cost and how to fix them.

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Topics: medical billing process

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.

Established in 2002 by a group of physicians, we are a national provider of medical billing services to group practices, clinics, and individual physicians. We also specialize in provider credentialing, payer contract reviews and medical coding for a wide range of clients - from solo practitioners to multi-site, multi-specialty practices. 

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