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Avoiding the #1 Denial
For the past decade, the #1 denial reason for reimbursement of medical claims has been related to poor insurance eligibility verification. Since then, many have been changed within the healthcare industry, but few things remain the same. As of today, the #1 denial reason still related to the same poor insurance eligibility verification. How is […]
How Billing Can Turn Hardship Into Prosperity
Many medical practice owners are running their billing operations apart from its medical activities. Many times, it consists of two departments that do not communicate at all, or, in some circumstances, an essential, minimum communication exists between both divisions. This type of disconnection usually results in the loss of financial opportunities or even financial distress. […]
Avoid Data Breach in Your Practice
With the increase in patient payments and lack of card security, payment card data in the healthcare industry has become a target for theft. This situation may cause a significant financial risk for you and your patients. Be aware of potential outcomes of data breaches, as: Economic impact on your practice Loss of patients Bad […]
7 Ways to Improve Your Revenue Cycle
Taking few and simple actions can effectively increase your practice’s revenue: Verify patient eligibility before 100% of visits: Eligibility checklist can help ensure an established patient has the same coverage as the previous visit by validating the Policy ID, effective/termination date, deductibles, etc. Pre-visit reminder: Reminding calls before the patient’s appointment reduces no shows and also offer […]
How Are You Handling Deductibles?
As deductibles are reaching sky high, recently we have been receiving increased amount of questions related of how to handle deductibles better. Aside from political decisions, as Affordable Care Act (ACA), which we have close to no input. It is important to understand “the other side of the coin” before we discuss possible solutions: Patients […]
How Often Do You Waive Copay or Coinsurance?
Here and there you may receive patient refusing to pay for the copay, deductible, or coinsurance, and the question is, what is the correct way to handle these requests? Before you make your decision, it is important to be aware of your responsibilities as an in-network provider. Routinely waive patient’s responsibility raises potential Federal Anti-Kickback […]
Insurance Carriers Tricky Reimbursement
You may have noticed some insurance reimbursement arriving at your office as a credit card format, instead of electronic transfer to your bank or paper check. This type of payment has been increasing for the past few years because insurance carriers receive cash-back incentive for using the credit card as payment in replacement of paper […]
