Tagged with medical practice
Top 3 Medical Billing Challenges in 2023
Every year brings new medical billing challenges for practices. If these challenges are not appropriately addressed, these can lead to an administrative burden, staff burnout, and delays in reimbursement. Addressing these billing challenges effectively can help you: Improve cash flow. Reduce denials. Increase patient satisfaction. Ensure you are getting paid for your work. The…
Four Steps to Protect your Practice from a Data Breach
A data breach is when an unauthorized party breaks into a company, individual, or organization’s system to disrupt, control, steal, or manipulate private, protected, or sensitive information. Therefore, these breaches happen when someone is looking to exploit your software or personnel internally to gain access to private data. However, it can also occur unintentionally when someone…
Get Ready for the CPT E/M Codes Changes in 2023
The New Year means medical practices must be ready for new code and guideline changes regarding CPT Evaluation and Management (E/M). The American Medical Association (AMA) released the guidelines regarding these medical codes effective January 1, 2023. Practices must be aware of them to prevent payment delays and run their businesses smoothly. These changes include 225 new…
How Technology can Help you Optimize your Patient Payment Process
The healthcare industry is evolving and should adopt technology tools to enhance processes and increase patient payments. The trends in healthcare payments show that there is more financial burden on patients due to higher deductibles, coinsurance amounts, and copayments. According to the Statista Research Department, in 2020, the total U.S. out-of-pocket healthcare payments reached approximately…
Pro Payer Negotiation Tips for Medical Practices
Medical practices often have a tough time negotiating contracts with insurance companies. However, this process is essential to ensure your reimbursement and maximize revenue for your business. The healthcare industry is constantly changing, and payer contract discussions are bound to change and adapt. Providers can increase income by improving their negotiation skills with payers…
CMS Issued Hospital IPPS Final Rule for Fiscal Year 2023
CMS Final Rule updated the IPPS rates by 2.6% in FY 2023 compared to FY 2022. The rule will be effective on October 1, 2022. AHA thanked CMS for increasing the IPPS instead of cutting them as proposed. However, the association said the update still falls short regarding the healthcare needs during these times. On…
Three Takeaways to Choose the Right Business Intelligence Platform for your Practice
In the healthcare industry, there are plenty of business intelligence platforms that can help you keep the pulse of your medical practice, identify areas of improvement, and provide you with insights to make data-driven decisions. However, a good BI platform can be sometimes hard to find. With typical BI platforms, the process to see your…
5 Tips to Optimize your Telemedicine Appointments
The healthcare industry is clearly evolving, making telehealth, telemedicine, and remote patient care more significant components of care delivery. Telemedicine in particular has advanced from a curious form of clinical communication to a mainstay in the way providers and consumers interact. It has gone from being a side feature of the healthcare system to an…
