Complete Guide to Capitation in Healthcare
It is no secret that the healthcare industry is undergoing constant regulatory changes. The biggest transition was when the fee-for-service model was changed to the fee-for-value model. This put providers in a frenzy, as they now had to focus on patient care and receive reimbursement accordingly. Capitation is another payment model that sets a fixed […]
What is predictive analytics and why does it matter?
Thanks to the power of big data, healthcare organizations now have access to troves of data and analytics that can ultimately help executives make decisions that put healthcare systems on the best path forward, meet patient demand, and prepare for future industry changes. However, leveraging that historical data into meaningful, actionable insights can be challenging […]
Four Consequences of Poor Revenue Cycle Management
In the highly regulated and fast-paced environment of healthcare, making sure your practice secures revenue and reimbursement should be top of mind. However, this task shouldn’t be needlessly difficult and time-consuming. Thankfully, revenue cycle management (RCM) support services can help fill in the gaps in your administrative billing processes, so you can focus on what really matters, patient care. Revenue cycle management can be time-consuming […]
What You Should Know About E & M Coding Changes
Important Information Regarding E&M Coding Changes The Centers for Medicare & Medicaid Services (CMS) recently updated the 2024 Evaluation and Management (E&M) coding changes, which healthcare providers must be aware of to correct the documentation and billing. The changes are intended to simplify coding procedures, reduce administrative burdens, and accelerate efficiency. Outpatient visit documentation has […]
Improve Practice Revenue – Identifying Patient Payers
It would be easy to assume that you’ve recognized and maximized on each of your practice payers’ arrangements. After all, insurance companies and providers have worked in tandem for years, developing relationships that are well-understood. However, one payer group tends to get overlooked more than the rest: the patients. Too many administrators neglect the fact […]
5 Ways to Enhance Your Prior Authorization Strategy
If you’ve managed a medical practice for any length of time, you’ve likely run into your fair share of eligibility and prior authorization challenges. Before we jump into tactics, tricks, and best practices for helping you tackle prior authorization, let’s take a quick step back and review the basics… What is Prior Authorization? Prior authorization […]
5 Key Steps for Optimizing Practice Profitability During a Crisis
Maximizing profitability and cash flow is a perpetual objective for successful medical practices. In a time of crisis, however, healthy practice revenues become even more critical. Here we review the five key steps you can learn from and implement to optimize your practice’s profitability. Financial Resources Leverage the financial resources that make sense for your […]
Practice Survival, Options for After the Pandemic
Healthcare practices may be open, but it’s not business as usual. The coronavirus (COVID-19) pandemic has changed the way the world thinks and acts, and this is especially relevant in healthcare. Most practices stayed open but may have had to lay off non-essential staff due to decreased patient volume. Others increased virtual care, while all […]
How to Fill Your Patient Schedule, During a Pandemic
In a pandemic world, where lockdowns and self-isolation mandates ebb and flow, inviting patients to rebook canceled appointments and schedule future treatments may seem daunting. As you work to re-open your practice, the question remains – how do you fill your patient schedule in the middle of a pandemic, and what is the safest way […]
Effective Collection Strategies in Uncertain Times
Current Landscape Many medical practices are facing financial uncertainty as a result of the COVID-19 pandemic. Recent research cited in the Practice Pulse report reveals that while their primary focus is on caring for patients and keeping team members safe and healthy, providers have expressed growing concern over their revenue cycle and personnel management. As […]
