Three Steps to Improve Collections and Save Time

Medical practices large and small, hospitals and other medical facilities waste tons of paper every year, but more importantly they waste time processing the paper.  Some estimates report that the healthcare industry reliance on paper cost $375 billion annually.  Physician’s cost of delivering healthcare to patients is expensive, so what can be done to help reduce administrative expenses?  Medical practices need to think outside of the box to eliminate nonessential labor expenses, ...

It’s often hard to convince physicians that they should hire an outside company to handle medical billing and coding instead of taking care of it in-house. After all, doctors use the triage system to prioritize patients according to the severity of their needs. They are likely to use that way of thinking in other aspects of life, too. If there is not an existing and clearly identified problem associated with that part of their practice, they probably won’t feel very ...

Are you ready for Medicare MIPS (Merit-based Incentive Payment System) 2017 reporting?

• With some effort you will qualify for an incentive payment.
• Just because it appears easy does not mean that reporting is simple.
• Miss some of the subtleties and your minimal action you will incur a four percent (4%) penalty of your allowable Medicare charges.
• If your allowable Medicare charges are $50K per month that mistake could cost you $24,000 annually.

$24,000 . . .Ouch!  Let’s put that in terms that means something to ...

Demand to rise 168 percent over next eight years as more physicians outsource billing

More physicians and medical practices are choosing to outsource their medical billing. According to a recently released report by Grand View Research, Inc., the demand is expected to result in the rapid growth of the medical billing outsourcing market — from $6.3 billion in 2015 to $16.9 billion by 2024 — surpassing demand for in-house billing.

This new data echoes similar 2014 research that found that Continue Reading →