Recent developments in billing and collections in medical offices reflect a broader trend toward technology integration, transparency, and efficiency. Key areas include: AI and Automation: Medical offices increasingly use AI to streamline repetitive billing tasks, reduce errors, and enhance accuracy in coding and claims verification. AI's ability to identify patterns in … [Read more...] about Watch these 4 trends in medical billing and collections
Billing & collections
How to deal with difficult patients and resolve conflicts
Dealing with difficult patients and resolving conflicts is an important part of working in a medical office. Sometimes, patients might be upset, anxious, or frustrated, and it's crucial to handle these situations calmly and professionally. Here are some tips and examples on how to manage these challenges effectively. First, it's important to listen carefully. When a patient … [Read more...] about How to deal with difficult patients and resolve conflicts
Physician Fee Schedule Updates for 2025 hit Telehealth, Payment Policies, Rates and Quality
The 2025 Medicare Physician Fee Schedule (PFS) introduces several key updates that impact payment policies, rates, and quality provisions: Payment Rates: There are refinements to codes for services addressing social determinants of health, with a focus on expanding the use of billing codes for social risk assessments and care coordination. Complexity add-on payments for … [Read more...] about Physician Fee Schedule Updates for 2025 hit Telehealth, Payment Policies, Rates and Quality
CODING ALERT: Watch for ICD-10-CM and CPT Changes for 2025
For 2025, medical coding changes in ICD-10-CM and CPT codes are set to reflect more precise diagnostic details and updated guidelines across various medical conditions. Some of the key updates include: Mental Health: New ICD-10-CM codes will expand the classification of eating disorders, differentiating severity levels (mild, moderate, severe) and adding specific … [Read more...] about CODING ALERT: Watch for ICD-10-CM and CPT Changes for 2025
How to add an insurance specialist to your team
Having a skilled insurance specialist on your team is essential for maintaining smooth financial operations and ensuring patient satisfaction. This role serves as a vital link between your practice, insurance companies, and patients. From verifying patient coverage to submitting claims and resolving billing disputes, an insurance specialist helps reduce financial stress for … [Read more...] about How to add an insurance specialist to your team
9 things to know about billing software
The large majority of medical offices use billing software. If you haven't made the leap to billing software yet, or if you are shopping for a new software vendor, here are things to know. With billing software, you can automate the entire billing process, from sending out invoices to processing payments. This can save you a lot of time and reduce the risk of errors. This … [Read more...] about 9 things to know about billing software
How to maximize reimbursements through denial management
One of your key responsibilities is ensuring that your practice gets paid for the services provided. One of the biggest challenges you’ll face in this role is dealing with insurance claim denials. These denials can create significant delays in cash flow and, if left unresolved, can lead to lost revenue. That's where effective denial management comes in. By creating a proactive … [Read more...] about How to maximize reimbursements through denial management
7 terms to include in your patient debt collection agency services contract
Outsourcing patient collections enables medical practices to generate needed cash flow and concentrate on clinical operations. That, at least, is the theory. But the strategy does not always work. One of the key factors of success is the actual services contract the medical practice signs with the agency. Many a medical practice has seen the anticipated benefits of outsourcing … [Read more...] about 7 terms to include in your patient debt collection agency services contract
Could you be doing more to make your accounts receivable less?
The financial health and stability of your medical practice depends on keeping receivables low and effectively managing outstanding balances. By implementing strategic practices and fostering a patient-centric approach, you can maintain low receivables while promoting a positive patient experience. Here are some strategies to achieve this: 1. Establish Clear Financial … [Read more...] about Could you be doing more to make your accounts receivable less?
Best practices for managing medical billing and coding
Managing medical billing and coding can be quite the juggling act, but getting it right is crucial for the financial health of your practice and ensuring everything runs smoothly. Here are some best practices to help you streamline your billing and coding processes, complete with examples to show how it all works. First off, hire and train the right staff. … [Read more...] about Best practices for managing medical billing and coding