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
Coding
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
8 tips for successful collections and increased revenue
A robust collections process is essential for the financial health and sustainability of your practice. By implementing the right strategies and adopting a proactive approach, you can significantly enhance your collections efforts. Here are 8 essential tips and best practices to help you optimize collections and maximize revenue for your medical office. Verify Insurance … [Read more...] about 8 tips for successful collections and increased revenue
18 ways your medical office can run afoul of laws and regulations
Running a medical office comes the responsibility for ensuring compliance with various laws and regulations. Failure to meet compliance requirements can lead to legal, financial, and reputational troubles. Here are some—but by no means all—the ways your medical office can run into compliance trouble: HIPAA Violations: Failure to protect patient health information and maintain … [Read more...] about 18 ways your medical office can run afoul of laws and regulations
7 strategies to maximize revenue cycle management
Optimizing revenue cycle management is essential for maximizing revenue and minimizing financial risks. By implementing strategic measures and adopting efficient practices, you can enhance the overall financial health of your medical office. Here are seven ways to optimize revenue cycle management and streamline your office's financial operations. Streamline Patient … [Read more...] about 7 strategies to maximize revenue cycle management
Be smart about scheduling to retain hourly employees
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 … [Read more...] about Be smart about scheduling to retain hourly employees
CPT update for COVID-19 boosters adapted to omicron
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, … [Read more...] about CPT update for COVID-19 boosters adapted to omicron
Medicare covering OTC COVID-19 tests
Starting this week and through the end of the COVID-19 public health emergency (PHE), Medicare covers and pays for over-the-counter (OTC) COVID-19 tests at no cost to people with Medicare Part B, including those with Medicare Advantage (MA) plans. In addition to helping prevent the spread of COVID-19, the goal is to find out if Medicare payment for OTC COVID-19 tests will … [Read more...] about Medicare covering OTC COVID-19 tests
Learn about changes and updates to telehealth
There's a lot you need to know about telehealth. That's why Medical Office Manager is offering a webinar, Telehealth—What Managers Need to Know, on April 6. It's free to Medical Office Manager members. Presenter Jen Bell of Karen Zupko and Associates will give you the tools and knowledge you need to comply with new telehealth regulations. Meanwhile here is Jen's update on … [Read more...] about Learn about changes and updates to telehealth
Medicare payment upped for COVID-19 vaccine
The Centers for Medicare & Medicaid Services (CMS) has increased the Medicare payment amount for administering the COVID-19 vaccine. This new and higher payment rate will support important actions taken by providers that are designed to increase the number of vaccines they can furnish each day, including establishing new or growing existing vaccination sites, conducting … [Read more...] about Medicare payment upped for COVID-19 vaccine