Do you remember why you started your medical facility? The desire to help and treat others of their ailments – wasn’t that the reason? And yet here you are, dabbling with billing, insurance companies, revenue cycles and bad debts – all of which impinge on the time that you could be spending looking after your patients.
The Zika Virus
While monitoring sylvatic yellow fever in rhesus monkeys in 1947, the researchers in Uganda also identified an emerging mosquito borne virus – Zika. In 1952, the Zika virus was identified in humans, first in Uganda and then in Tanzania. Belonging to the genre Flavivirus and spread through the Aedes mosquito,
All medical billing and coding professionals use standardized classification systems to code the patient’s medical and care history. However, there are medical billing and coding professionals who specialize in specific areas of medicine and work as specialist coders and billers. To become a specialist medical billing and coding professional,
The ever-changing healthcare scenario is making it difficult for clinicians to manage their finances. On one hand, the number of patients are increasing every day, while on the other, reimbursement by insurance companies for medical care provided is being reduced. Rising expenses and tons of paperwork; compliance issues and fears of a malpractice suit – all these are creating pressures on healthcare providers to maintain their standards of care and service.
The biggest problem in revenue cycle management for healthcare facilities is unpaid bills for medical services provided. The acquisition of medical debt leads to a detrimental impact on medical care provided by the healthcare facility and negatively affects the healthcare industry in general. There is a dire need to redesign the medical billing system to ensure shrinkage of bad debts,
One of the biggest banes of healthcare revenue cycle management; denied claims are a major source of stress for healthcare facilities and have an adverse impact on the cash flow and net revenue for the facility. But before we start blaming the payers for these denials, let us look at the common reasons for claim denials.
The ever changing policies and reforms in today’s healthcare scenario are forcing medical practices to change the way they manage their revenue cycle. Revenue cycle management is all about generating the maximum amount of net revenue. With the recent 5010 transition & ICD-10 switch, growing patient responsibility for payments & declining Medicare reimbursements,
An ongoing challenge for all hospitals, revenue cycle management requires the use of technology to keep track of claims and address issues as and when they arise. It is fairly common for claims to be denied, denial management being an industry wide challenge. Efforts by healthcare facilities have not made much impact in the reduction of claim denials.
Since the beginning of time, communication has been the most important factor in human relationships. In time, the way we communicate has evolved and today, technology plays a huge role in our communication with each other. Communication between patients and providers is gaining importance in the healthcare industry. Good communication with your patients will result in them following your advice,
The passion to cure people of ailments is what drives a person to become a physician. However, just medically treating people is no longer the only work that a physician needs to do – there are so many other things that demand his attention on a regular basis. Juggling between treating patients and running a practice often brings in many challenges that need to be faced on a daily basis.