In the complex world of healthcare reimbursement, adherence to stringent regulations is not just a recommendation but a fundamental requirement. The Anti-Kickback Laws are a critical cornerstone in the field of medical billing. Navigating this complex terrain and...
Fraud Prevention and Detection in Medical Billing
While most physicians are honest, provide high-quality care, bill patients correctly, and submit accurate claims to insurance companies, there are few who exploit the health care system for personal financial gain. Medical billing fraud refers to unethical practices...
Get Ready for These CPT Code Changes in 2024
Each year, the American Medical Association (AMA), Centers for Medicare and Medicaid Services (CMS), and the CPT Editorial Panel update the CPT code set a few months before its implementation. The 2024 CPT edition contains 349 changes, including 230 additions, 49...
Financial Reporting and Analysis for Healthcare Providers
Analyzing financial data in a healthcare practice is important for informed decision-making that promote financial health and overall sustainability. Financial reporting in healthcare supports a provider's strategic decision-making. It allows practitioners to gain...
Effective Denial Management Strategies
Denial management plays a critical role in the medical billing process. When claims are denied, it delays reimbursement and poses a critical financial challenge for healthcare providers. Denial management involves a systematic approach to identify the root causes of...
Streamlining Claims Submission and Processing
In any medical practice, timely reimbursement, financial stability, and the delivery of high-quality patient care depend on efficient medical claims submission and processing. Healthcare providers can enhance financial outcomes by deploying optimal strategies and...
Optimizing the Front-end Revenue Cycle
Successful revenue cycle management in medical billing ensures that healthcare providers can focus on delivering optimal patient outcomes without compromising financial viability. Effective revenue cycle management in healthcare involves 3 stages: front-end, mid cycle...
What Are the Services Offered by a Medical Billing Company?
Medical billing involves translating healthcare services into billing codes and submitting claims to insurance companies for reimbursement. Errors can be costly. Did you know that medical billing errors cost the U.S. healthcare system billions of dollars each year?...
The Future of Blockchain in Medical Billing Security
The healthcare industry is subject to extensive regulations. US privacy and security laws such as HIPAA require healthcare organizations to protect personal information, imposing heavy penalties for data breaches. With stringent regulations dictating the storage and...
Value-Based Care and its Impact on Billing
The challenges confronting the US healthcare system range from high costs to accessibility problems. The federal government introduced the value-based care strategy to improve the healthcare system in terms of outcomes, quality, equity and cost of care. Value based...