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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 A major problem is that many practices still use outdated and expensive paper-based billing processes simply because they’ve become so accustomed
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
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
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
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
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
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
There comes a time where you should probably stop blaming payers for medical billing mistakes, especially if your claims denial rate is higher than the 4% the MGMA touts as an efficient benchmark. What does your practice’s denial rate look
IN-HOUSE VS OUTSOURCED MEDICAL BILLING: PROS AND CONS The question of whether to manage medical billing in-house or outsource it is a critical consideration for many healthcare providers and practice managers. The right choice varies depending on many factors, such
American hospitals, medical practices, government health agencies and insurers spend around $360 billion per year on administrative expenses. That exorbitant amount is made up in large part by the costs of billing-related functions. High administrative costs make it more difficult
