Nowadays, with all the changing regulations governing how claims are handled, reviewed, and processed by insurance carriers could be financially stressful for a healthcare organization. The most frequently asked questions are: Is it true that I’m collecting the most money possible? How do I know I’m getting the most out of my collection? What can…
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There are many common terms used in the healthcare industry that we get to hear pretty often, such as medical billing, RCM, preauthorization, etc. Another common term that we hear is “medical coding” and we often think it is nothing but computer coding. But wait, are they really the same thing. Medical coding and computer…
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Skipping the introduction, let us get straight to the topic. What is Preauthorization? Preauthorization is a procedure that requires the healthcare provider to contact the health insurance payer to check if the medical treatment that is prescribed to the patient is covered in the patient’s respective insurance policy or not and if the treatment will…
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RCM. This term might have come across to you from time to time, but what is it exactly? The abbreviation RCM stands for Revenue Cycle Management. Yes, you guessed it right. It is related to revenue management. To brush up on the knowledge of RCM in the healthcare industry, let us understand this in a…
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Do you think Medical billing and Medical coding are the same? You are not the first one to think so. Medical coding and Medical billing are two different processes working with each other to meet one goal that is to increase the revenue of the healthcare organization. Before jumping to the straight difference. Let us…
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Medical billing outsourcing is advancing and growing at a high speed over the years. It’s really difficult to keep track of your receivables and can really be strenuous which affects the smooth workflow and reduces the efficiency of your job. This is very much true for all medical field professionals. Handling guests at the reception…
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The pandemic had started making its way before the start of the decade. When it hit in the early months of 2020, it hit hard, bringing down with it the healthcare system of the entire world. The healthcare industry managed to get back on its feet and although it was a struggle to walk at…
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We all know that patients are an integral part of the healthcare/medical industry. Healthcare services exist in order to provide these patients the kind of support they need when facing health-related issues. Needless to say, it is highly important for one to retain its patient base and keep improving it. Patient retention is the process…
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Operating and owning a medical practice is not a very easy thing to do. Every day it’s your responsibility to look after and treat new and sick patients along with making accurate billing, guiding your team to make decisions that will be beneficial for your financial future. Without the proper planning and efficiency in the…
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Errors in Medical Billing and Coding can lead to adverse effects on the overall Revenue Cycle Management. Small errors can also lead to claim denials and delay in payments. A smooth-running financial department also experiences claim denials but keeping in mind the most common mistakes can help you to avoid such mistakes in the future.…
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