End to End Medical Billing Solutions
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medicalbillersandcoders.
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D.
C.
P.
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Patient Satisfaction Equals to 30% More Income!
Improving patient satisfaction can significantly help enhance profitability & revenue by - reducing
malpractice...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 3 Patient Satisfaction Equals to 30% More Income! Improving patient satisfaction can significantly help enhance profitability & revenue by - reducing malpractice claims, increasing referrals, increasing patient volumes and consequently lowering risk. According to Industry Standards: Patient dissatisfaction can lead to patient’s willingness to recommend or return dropping anywhere between 30% - 50%. Organizations with consistently high levels of patient satisfaction are among the most financially successful. Numerous studies prove that satisfied patients are loyal patients which in turn increases revenue• In a study 1% standard deviation in the quality score resulted in a 2% increase in operating margin • Another study depicted that approx. 30% of variance in profitability can be attributed to patient perception
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From Thomas
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Pub. on Dec. 18th 2012
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The world’s largest economy has had to weather one of the worst recessions in the recent times. Not too long ago U.S. GDP hit the rock-bottom (at -8.9 in the middle of 2009). While it has slowly been coming out of the depths, the growth is not enough to bring down unemployment rate, which is hovering around 7.9% as of October.
From Thomas
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United States is on the verge of a major billing and coding reform – the introduction of ICD-10 in particular marks the beginning of the most robust, effective and efficient system of billing and coding ever to have been followed.
From Thomas
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End to End Medical Billing Solutions
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medicalbillersandcoders.
com
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medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
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How can Physicians Balance Roles at Work to Increase Medical Billing Efficiency of
Their Clinic?
Over the last few years the healthcare system in the United...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 How can Physicians Balance Roles at Work to Increase Medical Billing Efficiency of Their Clinic? Over the last few years the healthcare system in the United States has witnessed modifications in policies and regulations, in order to make healthcare facilities cost effective and accessible to people from all income groups. However, a substantial percentage of the population still remains uninsured and the introduction of the Patient Protection & Affordable Care Act in 2010, aims to increase the number of people insured and make healthcare more patient friendly. Doctors need sufficient face-to-face time with their patients to provide the best possible medical care. Changes in healthcare regulations and rise in the number of patients have raised the bar for services provided by physicians, hospitals as well as in
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From Thomas
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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Does a Medical Coding & Billing Job Offer You Healthcare’s Security from
an Office Setting?
Career in health care industry has rarely been unsecure.
While...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 Does a Medical Coding & Billing Job Offer You Healthcare’s Security from an Office Setting? Career in health care industry has rarely been unsecure. While professionals in other sectors have had to undergo turbulent times recently, people in this priority sector have maintained steady progress despite economic reversals. And there are reasons to it: first, health care is indispensable; more significantly, it is supported by world’s largest public insurance schemes – Medicare and Medicaid; and the contribution of private insurance players is also noteworthy. This remarkable story of sustenance and growth does not end here. With the Federal Government extending public health insurance to every American, care providers, support staff, payers, and everyone related directly or indirectly to health care will have t
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From Thomas
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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How can Accurate Eligibility Verifications Help in Reducing Denials?
Non-verification of insurance eligibility may lead to several problems - delayed payments,...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 3 How can Accurate Eligibility Verifications Help in Reducing Denials? Non-verification of insurance eligibility may lead to several problems - delayed payments, rework, increased errors and patient dissatisfaction - making it essential to do accurate insurance verification much before starting the medical billing process. Industry Facts • Improper verification of insurance can increase claim denials • One in every five medical claims are processed inaccurately by health insurers • Health insurance industry as a whole has about 80% accuracy rate for processing & paying claims • 1% improved claims processing accuracy creates an estimated savings of $777. 6 mn. in unnecessary administrative cost Hence physicians need to make every effort to ensure accuracy especially during eligibility verification which is the beg
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From Thomas
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Pub. on Nov. 30th 2012
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The scenario where the upcoming ICD-10 in 2014 will replace the existing 17,000 codes with over 150,000 diagnosis and procedure codes, along with the enhanced granularity – clearly reflects the importance of retaining coders in 2013 to help in the eventual revenue procurement.
From Thomas
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Pub. on Nov. 9th 2012
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While payers (whether Medicare, Medicaid or private health insurance companies) are justified in denying claims with inherent errors, it is physicians who are responsible for not pursuing with resubmission and intensified efforts. This is where Denial Management becomes significant.
From Thomas
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
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medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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How can A Medical Billing Service Help in Increasing Revenue at Your Practice?
Quality and cost have been inseparable.
And, as U.
S.
health care industry is...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 How can A Medical Billing Service Help in Increasing Revenue at Your Practice? Quality and cost have been inseparable. And, as U. S. health care industry is defined by new quality benchmarks, cost of administering medical services too seems be rising proportionately. While physicians continue to respond with appreciable clinical efficiency, they seem to have lost ways to find sustainable existence and growth. The existence of intense competition has forced them to operate at the most competitive prices, and off-set with volume. But, volume has failed to generate real revenues due to several reasons. As a result, many practices have either been forced to wind up operations or sell off. One of the primary reasons for disproportionate revenues vis-à-vis actual volume is failed medical billing practices. Phys
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From Thomas
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Pub. on Nov. 8th 2012
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End to End Medical Billing Solutions
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medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
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Monitoring Potential for Up-Coding Errors in EHR with the Help of a Medical Billing
Service
There has been considerable resolve and persuasion from the Federal...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 Monitoring Potential for Up-Coding Errors in EHR with the Help of a Medical Billing Service There has been considerable resolve and persuasion from the Federal Government to introduce Electronic Health Record System across the health care continuum. The Health Information Technology for Economic and Clinical Health (HITECH) Act has indeed given much impetus to pace of conversion from paper to electronic medium. The bait of financial incentives and penalties for complying with ‘Meaningful Use Criterion’ or otherwise has done wonders to the overall macro clinical efficiency as well physicians’ operational efficiency. In fact, no one would have foreseen the extent of transformation when the Federal Government first announced its major IT reform in 2009. One of the significant advantages of EHR is that it has eno
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From Thomas
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Pub. on Nov. 8th 2012
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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Billing “Urgent Care” As It Emerges As One of the Fastest Growing
Specialties
Urgent care is fast developing as a viable alternative to what has...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 Billing “Urgent Care” As It Emerges As One of the Fastest Growing Specialties Urgent care is fast developing as a viable alternative to what has traditionally been known as “family practice”. The main reason behind this new-found fancy is that physicians can now operate from designated facilities without having to trek around offices, nursing homes, and hospitals. Additionally, urgent care centers are preferred to other similar types of ambulatory healthcare centers, such as emergency departments, and walk-in primary care centers by the scope of illness treated and facilities available on-site. It will not be long before we witness further addition to already 8,700 urgent care centers (UCCs) across the US. While it is true that practicing Urgent care offers physicians an extended scope and avenue for revenue
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From Thomas
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Pub. on Oct. 31st 2012
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End to End Medical Billing Solutions
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medicalbillersandcoders.
com
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medicalbillersandcoders.
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Copyright ©-2011 M.
D.
C.
P.
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Why Most Physicians Get Paid Within 60-90 Instead of 14-30 Days?
Amidst rising costs of operations and declining reimbursement rates; increasing Accounts...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 Why Most Physicians Get Paid Within 60-90 Instead of 14-30 Days? Amidst rising costs of operations and declining reimbursement rates; increasing Accounts Receivable (AR) days is a major concern with physicians as partly paid, late or denied payments can significantly impact a practice’s bottom line. Minimum payment days: On filing a clean claim the minimum time a physician will be paid differs on the payer: Federal payers (Medicare/ Medicaid) – pay clean claims within 13-15 days and other commercial payers - pay clean claims within 27 to 30 days Industry standards: Claims generally take anywhere between 40 - 169 days to be paid, with an AR cycle of generally 60 90 days Why delay? Get It Right the First Time! -Claims are typically delayed or denied due to human error or misfiling. Additionally a variety of facto
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From Thomas
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Pub. on Oct. 31st 2012
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End to End Medical Billing Solutions
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medicalbillersandcoders.
com
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medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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Navigating through Regulatory Changes that Dramatically Affect Medical Billing
The limited reach of US healthcare network leaves a large part of American...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 Navigating through Regulatory Changes that Dramatically Affect Medical Billing The limited reach of US healthcare network leaves a large part of American population outside the net of healthcare. This problem has stalked US governments traditionally and to expand the reach of healthcare to make healthcare available to a larger part of US population, successive governments (in varying degrees and as suited their political beliefs) have introduced regulations to make healthcare cheaper for and easily accessible to the care receiver. In continuity of this tradition, the last few years under Obama administration have been witness to a flurry of regulations. Whilst one can argue that they have addressed the traditional concerns and empowered US healthcare to stand up to the challenges of technology and needs of mod
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From Thomas
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Pub. on Oct. 29th 2012
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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Increasing Revenue through HIPAA Compliant Practices
HIPAA (Health Insurance Portability and Accountability Act), which was first enacted in 1996 to improve...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 1 Increasing Revenue through HIPAA Compliant Practices HIPAA (Health Insurance Portability and Accountability Act), which was first enacted in 1996 to improve the efficiency of healthcare delivery, has come to be recognized as the standard for electronic data interchange (EDI), security, and confidentiality of all healthcare-related data. The Act mandates: standardized formats for all patient health, administrative, and financial data; unique identifiers (ID numbers) for each healthcare entity, including individuals, employers, health plans and health care providers; and security mechanisms to ensure confidentiality and data integrity for any information that identifies an individual. Healthcare providers exchange healthcare data for a variety of purposes: collaborative clinical management, national healthcare pl
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From Thomas
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Pub. on Oct. 29th 2012
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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Combining Medical Billing and Coding to Deliver Maximum Physician
Revenue
‘Medical billing’ and ‘Medical coding’ may have sometimes been used...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 2 Combining Medical Billing and Coding to Deliver Maximum Physician Revenue ‘Medical billing’ and ‘Medical coding’ may have sometimes been used interchangeably to mean the act of claiming reimbursement from insurance payers, but essentially they are two separate and specialized jobs. Medical coding precedes medical billing, and it is irreversible. While a medical biller is entrusted with far more task than a coder, it is the quality of coding that largely decides the success of medical billing. That is why medical coding is often termed as a ‘specialty’ by itself while medical billing, its ‘sub-specialty’. Medical coding is based on the descriptive narration of the medical services or procedures done by physicians. The coder assigns appropriate codes based on the physicians’ clinical summaries. Here, he may h
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From Thomas
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Pub. on Oct. 18th 2012
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
Page 1 of 1
Medical Practices Anxious About the Impact of ICD-10 Transition
While the recent one year extension (from October 1, 2013 to October 1, 2014) in deadline by the...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 1 Medical Practices Anxious About the Impact of ICD-10 Transition While the recent one year extension (from October 1, 2013 to October 1, 2014) in deadline by the U. S. Department of Health and Human Services (HHS) may somewhat have eased the pressure, yet the anxiety still persists among the majority of medical practices in the US. The “anxiety” is about the impact of ICD-10 transition on their practices’ clinical, operational, and financial efficiency. Nearly 90% of the total practitioners harbor this fear. Then, is it really true? Or is it simply unfounded reason? Well… the answer is both a “yes” and a “no”! True because ICD-10 is something monumental and is happening for the first time in the US while the rest of the world started adopting decades earlier. Simply look at the increase in diagnosis and proce
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From Thomas
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Pub. on Oct. 18th 2012
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End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
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How difficult can medical claim filing and payment posting be?
Hospitals, healthcare organizations and dentists have long been occupied with the issue of...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 1 How difficult can medical claim filing and payment posting be? Hospitals, healthcare organizations and dentists have long been occupied with the issue of medical filing. The process of medical claim filing is overtly complex, requiring paper work, filing and adjudication. Moreover, with the introduction of new reforms in the system every other day, which is ironically meant to save time and energy of the physician, is a reason for increasing problems until physicians manage to successfully make the required changes. Hence more documentation, additional reform requisites requires more administrative staff. At times, the ratio of staff dedicated to handle the paperwork to doctors can even be as high as 1:12. Organizations can end up making 19 copies for every document, for which they have to spend $20 in labor
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From Thomas
End to End Medical Billing Solutions
http://www.
medicalbillersandcoders.
com
www.
medicalbillersandcoders.
com
Copyright ©-2011 M.
D.
C.
P.
All Rights Reserved.
Page 1 of 1
Managing HIPAA Issues at your Medical Practices
With the application of HIPAA, (Health Insurance Portability Accountability Act), health care
organisations need...
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End to End Medical Billing Solutions http://www. medicalbillersandcoders. com www. medicalbillersandcoders. com Copyright ©-2011 M. D. C. P. All Rights Reserved. Page 1 of 1 Managing HIPAA Issues at your Medical Practices With the application of HIPAA, (Health Insurance Portability Accountability Act), health care organisations need to be cautious with whom to share the patient information. HIPAA calls for protection of the individual’s health information, at the same time; this privacy rule also permits limited disclosure of health related information to related entity of a person who needs patient care, thus, bringing on added responsibility for the staff. Challenges faced: Introduction of HIPAA has proved to be a challenge for medical billing over the recent years with providers required to send claims electronically in compliance with the act, in order to receive their payment. Medical billing and insurance companies have both been affected because of the regulations imposed b
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From Thomas
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