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Home » topics » Billing and collections
RETAINING STAFF

Be smart about scheduling to retain hourly employees

May 30, 2023 by

Staff scheduling can significantly impact the success of your practice. While scheduling may seem like a routine administrative task, its importance in retaining your valuable hourly employees cannot be overstated. A well-designed and thoughtful scheduling system can lead to increased job satisfaction, higher productivity, and improved staff retention rates. . Depending on the size and structure of your practice, you might have some of these staff members on hourly wages instead of monthly salary—receptionist, medical assistant, billing and coding specialist, medical transcriptionist, records technician, medical equipment tech, office cleaner and office assistant. Good scheduling practices could give them: Consistency and predictability By providing consistent and predictable work schedules, you demonstrate your commitment to fairness and respect for your employees’ time. Hourly employees often face challenges in balancing their work and… . . . read more.

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BILLING & COLLECTIONS

4 strategies for more effective medical billing

May 4, 2023 by

By Isaac Smith The medical billing process can be a time-consuming endeavor, but there are several ways you can improve your practice’s revenue flow. Here are five strategies for increasing your medical billing efficiency. 1 Ensure transparency in payments Whether you provide in-network or out-of-network services, patients are looking for more transparency from their healthcare providers. They want to know what they can expect and what is included in the price tag. And they are willing to pay for it if you deliver on your promises. One of the most important aspects of medical office administration is billing and collections. A good revenue cycle tool will help you to be more transparent by generating reliable out-of-pocket cost estimates at the time of service, as well as helping you to identify… . . . read more.

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PURCHASING

9 things to know about billing software

March 21, 2023 by

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 starts with shopping for medical billing software. s a medical office manager, there are important factors to consider before purchasing medical billing software. To choose the best software for your small practice, consider the following factors: Budget: Determine your monthly and annual budget for the software and whether you prefer a monthly or annual payment structure. Practice Management Software: Decide if a comprehensive practice… . . . read more.

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BILLING & COLLECTIONS

Model Policy: Patient Billings Collection and Financial Policy

March 13, 2023 by

Why you need this policy:

Doctors have every right—and need—to be paid. But getting patients to pay their bills on time is a major challenge that forces you to confront a bewildering array of regulatory requirements, managed care and insurance contracts, and ethical constraints stemming from the doctor-patient relationship.


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CMS

Reminder: 2022 MIPS data submission period ends March 31

March 8, 2023 by

MIPS Eligible clinicians can submit their 2022 data through March 31. The Centers for Medicare & Medicaid Services (CMS) has opened the data submission period for Merit-based Incentive Payment System (MIPS) eligible clinicians who participated in the 2022 performance year of the Quality Payment Program (QPP). Data can be submitted and updated until 8 p.m. ET March 31. How to submit your 2022 MIPS data Clinicians will follow the steps outlined below to submit their data: Go to the Quality Payment Program sign in page. Sign in using your QPP access credentials (see below for directions). Submit your MIPS data for the 2022 performance year or review the data reported on your behalf by a third party. (You can’t correct errors with your data after the submission period, so it’s important to make sure the data submitted on… . . . read more.

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INCREASING PROFITS

Track these 5 metrics for practice profitability

January 6, 2023 by

By Mike Rigert “It was the best of times, it was the worst of times … , ” wrote author Charles Dickens in his classic novel, “A Tale of Two Cities.” While it’s certainly not the worst of times for most healthcare practices (that honor likely went to 2020-2021), things could always be better, right? You’re likely still dealing with the impacts of rampant inflation and ongoing short staffing, among other things. Despite these setbacks, there’s clear opportunities to move your practice forward to improve both production and productivity to help you reach your financial goals. It all goes back to numbers—the key performance indicators (KPIs) that determine whether your practice sinks or swims. Some metrics are more important and vital to the success of your practice than others. We’ve outlined five… . . . read more.

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HIPAA

Proposed rule would standardize how to send health care attachments

December 26, 2022 by

It might get easier for your medical office to send healthcare attachments and electronic signatures. The Centers for Medicare & Medicaid Services (CMS), has issued a proposed rule, “Adoption of Standards for Health Care Attachments Transactions and Electronic Signatures, and Modification to Referral Certification and Authorization Transaction Standard (CMS-0053-P).” If finalized, the proposed rule, would adopt standards for “health care attachments” transactions, such as medical charts, x-rays, and provider notes that document physician referrals, and office or telemedicine visits. The modifications to the HIPAA transactions would support both health care claims and prior authorization transactions, standards for electronic signatures to be used in conjunction with health care attachments transactions, and a modification to the standard for the referral certification and authorization transaction. The is a part of ongoing efforts to… . . . read more.

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COVID-19

Jan. 3 deadline for MIPS Extreme and Uncontrollable Circumstances application

December 15, 2022 by

The deadline to submit a MIPS EUC Exception application for the 2022 performance year is 8 p.m. ET on Jan. 3, 2023. If you believe you’ve been affected by an extreme and uncontrollable circumstance (such as the public health emergency triggered by the COVID-19 pandemic), you can apply whether reporting traditional MIPS or the APM Performance Pathway (APP). MIPS eligible clinicians, groups, and virtual groups may submit an application to reweight any or all MIPS performance categories if they’ve been affected by extreme and uncontrollable circumstances that impact these performance categories. Alternative Payment Model (APM) Entities may submit an application but are required to request reweighting for all performance categories. Beginning in the 2023 performance year, clinicians will also have the option to report via the MIPS Value Pathway (MVP)s framework instead of traditional MIPS. Learn more: CMS’s Current Emergencies Medicare IFC: Revisions in Response… . . . read more.

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CODING & BILLING

CPT update for COVID-19 boosters adapted to omicron

September 6, 2022 by

The American Medical Association has announced an update to Current Procedural Terminology (CPT)®, that includes eight new codes for the bivalent COVID-19 vaccine booster doses from Moderna and Pfizer-BioNTech. The updated boosters are adapted for the BA.4 and BA.5 Omicron subvariants and the original coronavirus strain in a single dose. Four of the eight CPT codes (91312, 91313, 0124A and 0134A) are effective for use immediately as the U.S. Food and Drug Administration (FDA) has authorized Moderna’s new COVID-19 booster in individuals 18 years of age and older and Pfizer-BioNTech’s new COVID-19 booster in individuals 12 years of age and older. Four CPT codes (91314, 91315, 0144A and 0154A) will be effective for use on the condition that the FDA authorizes Moderna’s new COVID-19 booster in individuals 6 years through… . . . read more.

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BILLING & CODING

Telehealth policy to change after the COVID-19 public health emergency

September 1, 2022 by

The COVID-19 public health emergency has been extended to Oct. 13. Of particular interest to medical practices is the continuation of telehealth flexibilities, which will expire at the end of the public health emergency. US Department of Health and Human Services Secretary Xavier Becerra officially renewed the declaration in mid-August. The emergency declaration has been in place since January 2020, and the latest renewal came as the Omicron offshoot BA.5, the most contagious variant yet, continues to stake its claim in the US. Daily case rates, though vastly undercounted, are the highest they’ve been in months, as are COVID-19 hospitalizations and deaths. Data published in August by the US Centers for Disease Control and Prevention shows that more than half of the country’s population lives in a county with a… . . . read more.

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