Medical billing denial management is always a difficult task. When you find the right solution, it may appear that you have a more efficient revenue generation process. Nonetheless, many people fail to optimize their denial management in medical billing for a variety of reasons. There is no specific proof that every medical billing process was…
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It has been correctly stated that what you do not measure cannot be managed. This is especially true when it comes to medical billing denials. You cannot manage this critical aspect of medical billing without a strong Revenue Cycle Denial Management system in place. If you do not manage your denials, you are likely leaving…
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Physicians often get into stress with seeing an increasing number of patients, providing medical services, and following up with appropriate follow-ups that they have little time to attend to the coding and billing processes themselves. Practices may have in-house staff who are overburdened with other responsibilities. However, documentation of medical records, timely coding and billing,…
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The majority of RCM services are labor-intensive. To handle the volume of cases, even a small physician’s facility requires one or more dedicated staff members. Salary and benefits are more expensive than hiring a medical billing agency. Turnover may also be an issue, as it takes a significant investment to hire and train new employees. …
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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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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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