Strategic Realignment to Affordable Care Organization Model – providers perspective

“While physicians embark on such transformational healthcare model, their quantum of Medicare reimbursement, and its amicable distribution among themselves is sure going to be complex issue. Given such complex calculation on Medicare reimbursements and qualifying incentives, an external medical billing services that is best acquainted with Medicare environment becomes more pronounced.” As time closes in on the Accountable Care Organization...

Outsourced Medical Billing – the prescription for new practices’ impressive ROI

Given the rapidly expanding patient base, and an insatiable demand for quality medical care, it is not surprising that each passing-by moment is witness to the birth of a new practice. Despite being driven by a larger healthcare vision, new practices – operating in a market-driven environment – are inevitably forced to lend equal significance to Rate of Return on Investment (ROI), which is the operational yard-stick for sustenance and growth...

Assess the capability of your workforce: Is your clinic administration in the right hands?

The capability of your workforce as a physician is directly impacted by the number of people you hire and the efficiency of the staff. Ideally every business entity needs to find the right balance between the number of people employed and the profits or revenue that they help generate. This factor along with the efficiency of your staff directly affects your revenue and accuracy. Physicians in the United States face numerous challenges...

Payment Posting – Key to Revenue Cycle Management

Payment posting is one of the most important steps that can assist in improving a physician’s revenue if done efficiently. Although payment posting is becoming electronic and automated there is still the need for checking for accuracy and errors in the posting. There are numerous ways in which physicians can benefit from accurate and efficient payment posting and its analysis. Explanation of Benefits (EOB) The ability to carefully...

Increased inaccuracy in claims payments by health insurers

Commercial health insurance has registered an increase of 2% over the existing average claims processing error rate of 19.3%. This 2% translates to an extra 3.6 million in erroneous claim payments, and costs an additional estimated $1.5 billion in highly avoidable administrative costs to the health system. AMA (American Medical Association) has released its Fourth Annual National Health Insurer Report Card which underscores the 2% increase...

Improving Quality And Revenue In Face Of Healthcare Reforms

The recent healthcare reforms proposed by the white house may affect the revenue as well as the quality of the service provided by physicians in the United States. According to a recent survey by Thomson Reuters, almost two-third of doctors in the US fear that health care reforms proposed by Mr. Obama might flood their offices which in turn would mean reduced individual attention to patients. Simply put, doctors would end up working more for lesser...

Better Revenue Cycle Management For Physicians With Skilled Billers And Coders

Accurate revenue cycle management essentially means that you get paid in a timely manner and the account receivables balance is zero when the cycle is completed. However, this type of management could become cumbersome for physicians since it is not their primary occupation and the recent health care reforms would mean more patients and work pressure. Therefore it becomes imperative that you have a system in place whereby you can delegate this job...