Why You Could Be Missing 11% of Your Revenue
The revenue cycle for medical groups seems to get only more complex and difficult to manage. In our Maximizing Your A/R series, we look at how medical practices can attack revenue shortfalls on more than one front. We already addressed how to use automated billing rules and track late payments to keep more of the […]
Accounts Receivables: Shouldn’t We Be Paid on that Claim by Now?
It’s complicated. Follow up on medical claims from one payer in 30 days but wait to track payment from another for two months? What about that third payer that usually takes 90 days or more? Trying to make sense of all these different payment schedules can be challenging. Beyond time-consuming, this complexity can cause […]
HIMSS Wants to Help Consumers Change How They Pay for Health Care
“The ones who are crazy enough to think they can change the world are the ones that do.” We love this anonymous quote. The Health Information and Management Systems Society (HIMSS) also found it relevant enough to include it on their new report on how to improve the way consumers and providers interact financially. Members […]
Early Intervention: Prevent A/R Problems Before They Cost You
Like a lot of things in life, it’s better to catch a problem early before it snowballs. When it comes to a medical billing claim, getting it right the first time could be the difference in whether you ever see that money. That’s because 50% to 65% of denied claims never get worked, according to […]
How To Avoid the 5 Most Common Mistakes Causing Claim Denials
The Medical Group Management Association (MGMA) found that better-performing medical groups average just a 4.05% claims denial rate. Is your practice’s denial rate above four percent? If so, it could be time for a checkup of your internal claims processing. Manual errors, input oversights and timing issues create more denials than many practices realize. Keep an eye […]
New Partnership Provides a Complete Health IT Solution for Large Medical Groups
We here at CareCloud are very excited to announce a new partnership with MCIS – a healthcare technology firm established from the renowned Marshfield Clinic, one of America’s largest medical groups. This collaboration represents another milestone as we continue to grow, innovate and offer powerful solutions to larger, multispecialty medical practices nationwide. The complete, cloud-based […]
What the Stage 3 Meaningful Use Rule Means for Physicians, Practices and Healthcare
CMS recently released its Stage 3 Meaningful Use proposed rule and it appears to address some of the most vocal criticism from industry stakeholders regarding final rules for Stages 1 and 2. The new rule aims to: * Simplify meaningful use reporting periods * Promote greater EHR interoperability * Drive more and better healthcare analytics
3 Advantages to Outsourcing Your Medical Practice Revenue Cycle
Do you have a general sense that you’re not receiving all the revenue you earn? Is the upcoming switch to ICD-10 coding only adding to your anxiety? You’re not alone. Less than one in three physicians believe their billing and collections processes will be ready for ICD-10 implementation, according to the Practice Profitability Index survey […]
How a March Madness Approach Can Help You Make Better Software Decisions
The 2015 NCAA men’s basketball tournament kicks off this week with 68 teams competing for the championship. Predicting the winner isn’t easy, even for the most die-hard fans of men’s college basketball. There’s a method to the “March Madness,” however, that researchers say could help anyone faced with an important decision and several choices. A […]
Infographic: Shining Light on Leaks in the Claims Process
Could the medical claims cycle be any more complex? (Let’s hope not.) But complexity becomes easier to manage when you can see the whole picture. This CareCloud infographic makes it easier to see where physicians might be losing money — so you can target the leaks and hopefully boost the revenue coming into your practice.