Undoubtedly, medical billing and coding for Medicare presents significant complexity to healthcare providers. As a result, appropriate Medicare code knowledge and full understanding of guidelines remains crucial for accurate reimbursement, avoid claim denials, audits and potential penalties. However, such Medicare billing complexity can be managed easily and systematically through outsourcing...
How Are Rehab Clinics Increasing Collections with Offshore Billing Services?
Rehabilitation clinics play a vital role in assisting patient recovery from different kinds of medical conditions but financial constraints always threaten their continued provision of care. Did you know? U.S. healthcare providers, including rehab clinics, encounter annual losses of around $125 billion due to poor billing efficiency and denial management....
Denial Management and AR Follow-Ups for Better Claims Resolution
Undoubtedly, healthcare providers encounter major difficulty when faced with denied claims as effective management helps prevent notable revenue losses. The initial denial rate exceeds 20% of all claims, according to the American Medical Association study, and most claims are never resubmitted, leading to financial losses for healthcare providers. Studies indicate...
A Simple Guide to CPT, HCPCS, and ICD Codes for Healthcare Providers
The healthcare industry relies heavily on medical coding since it is responsible for documenting medical services, diagnoses, and procedures for billing and reimbursement purposes. Out of the multiple coding systems, three basic code sets—CPT (Current Procedural Terminology), HCPCS (Healthcare Common Procedure Coding System), and ICD (International Classification of Diseases)—are commonly...
Key Steps to Optimize Revenue Cycle Management in Healthcare
Introduction Financial stability, like the quality of patient care, is essential for the operation of a health care facility, yet it is often undermined by revenue cycle inefficiency, claim denial, and delay in reimbursement. Revenue Cycle Management (RCM) refers to efficient and effective collection efforts from providers to bring cash...
