Denials from insurance companies can be frustrating and costly for both your practice and patients. However, a well-organized approach to handling denials and appeals can significantly impact your revenue and patient satisfaction. In this article, we will provide you with valuable advice on managing denials and appeals effectively. Understanding Denials Before delving into … [Read more...] about Strategies to stay on top of insurance denials and appeals
Billing and collections
21 easy ways to boost practice profitability fast
Simple changes to billing procedures, hiring policies, purchasing, patient relations, and other daily activities can have a positive impact on your practice's bottom line. Here are 21 ways you can quickly boost practice profitability. 1. Name a reimbursement coordinator To get all the reimbursement possible, hire or appoint someone to be a reimbursement coordinator. It … [Read more...] about 21 easy ways to boost practice profitability fast
How to navigate insurance contracts
Reviewing and negotiating insurance contracts and ensuring compliance with regulations are indispensable tasks for medical office managers. These efforts not only impact the financial stability of the practice but also contribute to the quality of patient care. By approaching these strategically, medical office managers can secure favorable terms, optimize provider networks, … [Read more...] about How to navigate insurance contracts
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
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
Make the most of the last two weeks of August
You know that September often brings a renewed focus on appointments, billing, and patient care. The last two weeks of August, when things might be a bit quieter, offer a golden opportunity to prepare your office for the busy months ahead. Here are some good ways to make the most of this time and set your practice up for success: 1. Audit Patient Records Now is the perfect … [Read more...] about Make the most of the last two weeks of August
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?
Getting your head back in the game after summer vacation
It can be hard to come back to the office after the fun and relaxation of summer vacation. Consider these tips for a smooth transition and an efficient workflow. Reconnect with the Healthcare Team: Upon your return, schedule meetings with key healthcare professionals and staff members. Discuss any recent changes, updates, or challenges that occurred during your absence. … [Read more...] about Getting your head back in the game after summer vacation
5 tested ways to make your billing and coding more profitable
The health of your medical practice depends on good quality coding and billing work. One of the most important roles in the medical office that impacts compliance—and your bottom line—is the coding and billing function. "Coding and billing is the lifeblood of the practice; it's the income," says Michael J. Sacopulos, JD, founder and president of Medical Risk … [Read more...] about 5 tested ways to make your billing and coding more profitable
How to make a collection call to a patient
A collection call to a patient should never be offensive. But it does need to be firm. Remember, the goal is to collect an unpaid balance. With this in mind, here's what to say and how to respond to what a patient says. Begin by putting the patient on the spot, without being confrontational. One possible approach is, "We haven't received payment for this bill we sent you 30 … [Read more...] about How to make a collection call to a patient