In 2024, the medical billing landscape is fraught with challenges that demand a strategic and technologically savvy approach. Healthcare providers are grappling with an increasingly complex coding system, a rising tide of claim denials, and evolving compliance regulations. This blog explores effective strategies that employ advanced technology to streamline billing processes and enhance revenue integrity. […]
Tagged in: Claims Processing
Harnessing the Challenges and Complexities of Telemedicine Billing
Since the COVID-19 pandemic began, telemedicine has seen unprecedented growth. According to the CDC, there was a 154% increase in telehealth visits during the last week of March 2020 compared to the same period in 2019. This surge highlights the critical role telemedicine plays in providing essential healthcare services, particularly under challenging circumstances. As telemedicine […]
Embrace Efficiency:
Six Ways Automation Transforms Medical Billing
In the intricate world of healthcare revenue management, the difference between thriving and merely surviving often hinges on the efficacy of your billing processes. Did you know that poor billing practices cause doctors in the US to lose an estimated $125 billion dollars each year? Automation stands as a beacon of progress, offering a multitude […]
Reducing Claims Denial with PHIMED PhyGeneSys Solution
As a healthcare provider, you know the frustration when medical claims are kicked back. Not only does it cost you time and money to analyze and resubmit the claim, but denials can also lead to lost revenue and decreased patient satisfaction. Minimizing claims denial is arguably the biggest challenge facing medical practice management. It’s no […]
Enhancing Reputation Management for Healthcare Practices
Achieving unparalleled excellence in medical practice reputation is no small feat; it demands more than clinical proficiency and cultivating exceptional patient interactions. Reputation management requires a practice-wide focus on seemingly minute details such as accurate service charges, precise coding, and comprehensive charge information. These factors wield a substantial influence on a healthcare practice’s reputation. Yes, […]
How to Prevent Medical Claims Denial: Follow These Steps and Increase Your Clean Claim Rate
At the risk of stating the obvious, the ever-increasing regulations and shrinking reimbursements have pushed revenue cycle management to the front of the line for medical practices, including billing companies. It’s truly unfortunate; delivering exceptional patient care is challenged by the financial burdens of payroll, overhead, and retained earnings. Fortunately, there is a solution, but […]
You Can’t Manage What You Don’t Measure
Eliminate Coding Errors, Measure Claim Success Rate, Collection Time, and Cash Flow. Evidence-based medicine from clinical research is fairly standard in the quality healthcare. Yet not everyone takes the time of effort to apply the same systemic approach when managing medical revenue cycles. Implementing and tracking Key Performance Indicators (KPIs) will help you understand your […]
Update: The No Surprises Act Is Harming Anesthesiologists
The No Surprises Act was designed to: In August 2022, the No Surprises Act’s final rules entitled “Requirements Related to Surprise Billing: Final Rules” were issued. The initial Act’s provisions and those addressed in the Final Rules have created significant burden to an already strained health care delivery system. Provider reimbursement is being delayed by processes in the […]
