The Complete Medical Billing Resource Guide
Accurate medical billing can be the difference between consistent profitability and shutting down your practice. The problem is billing and coding issues tend to be confusing and complex. Too often, doctors don’t receive payment for their services because of simple mistakes or costly claim denials. This is why Power Your Practice has put together a […]
4 Medical Billing Changes to Prepare for in 2014
A new year always brings hope of added growth and renewed prosperity. And 2014 should be no different. However, for physicians to maximize reimbursements in the coming year, they’re going to have to adopt a series of changes in their billing and coding protocols.
When Should You Outsource Your Medical Billing?
Of the many business challenges facing healthcare providers today, choosing between outsourcing medical billing services or maintaining an in-house billing department is critical. There’s no true one-size-fits-all approach for practices. A variety of factors can influence the decision, including costs and staffing availability. But because your cash flow depends on billing, the decision on how to handle […]
Electronic Medical Billing: No Paper, No Problem
Billing-related tasks are normally behind the high administrative costs that have made sustaining a private medical practice so difficult. A major problem is that many practices still use outdated and expensive paper-based billing processes simply because they’ve become so accustomed to traditional workflow operations. Luckily, electronic medical billing allows physicians to break away from the limitations […]
Perfect Medical Billing with the Right PM System
According to CMS, 18% of claims will never be collected. Compound this with MGMA’s claims that payers underpay practices by an average of 7% to 11%, and you have some unsightly statistics that don’t bode well for maintaining a profitable practice. Fortunately, the right practice management (PM) systems can greatly improve your collections by reducing […]
Outsourced Medical Billing: Why It’s the Logical Choice
Parents sending a child off to college for the first time deal with a mixed set of emotions. Worries about sending their child away without supervision arise, but they also realize the potential benefits a college education provides. Deciding whether to keep your billing in-house or have it outsourced is a similar ordeal. The worry […]
3 Unique Challenges to Anesthesia Medical Billing
Anesthesia medical billing isn’t like other forms of billing that clinics and hospitals might face. There are stringent, federal guidelines to be followed. Anesthesiologists spend most of their work days with patients and it’s easy to let billing fall to the wayside. However, the right software system can make a huge difference.
Power 5 Week In Review: Our Take on Medical Billing
Another week down, but only as far as the Gregorian calendar is concerned because time is more subjective at Power Your Practice. We’ve worked to curate a set of articles that relate to present and future conflicts within the medical billing world, and as usual, we’ve presented a number of very adaptable solutions for […]
What Does the Future of Medical Billing Look Like?
Life was more leisurely in the 1980s. Most healthcare providers handled their own billing – physicians set fees for treatment and sent bills to insurance companies, who in turn paid the bill. Paper wasn’t a swear word yet, seeing as little technology was needed. If you’re reading this, however, you know today’s healthcare world consists […]
7 Ways to Enhance Your Medical Billing Process
Cash flow is vital to the success of any practice, so completing the billing process in a timely and efficient manner means submitting claims correctly and receiving proper reimbursement. “There are many things a medical biller can do to help them stay current on changes, as well as to ensure claims are billed and processed correctly,” […]