By Ranadene (Randi) K. Tapio, MBA, CMRS, CMC, Guest Contributor bio Revenue Cycle Management is multi-faceted. There may not be a right or wrong way as far as your process goes, but there are tips, tricks, and best practices that can optimize the process, and in turn, your reimbursements. After years of experience working with varying sized and specialty practices, … [Read more...] about 4 best practices to help optimize your processes and increase your reimbursements
Coding
Simple but workable ways to improve collections
What's the cause of poor collections? Don't blame it on the office, says one collections expert. Sadly, the underlying reason for poor collections is today's all-too-common attitude that bills don't deserve respect. In the past, people were proud to pay their bills. No more. A bill that can be avoided gets avoided. And along with that, "the world has changed," says … [Read more...] about Simple but workable ways to improve collections
4 steps to preventing medical claim denials
By Ricki Ransom bio It's no secret that the relationship between health care providers and insurance companies is complicated. Healthcare providers are spending a significant amount of time and energy with patients just to find out that an insurance company will fight them on paying for the services provided. Preventing claim denials helps ease the complications … [Read more...] about 4 steps to preventing medical claim denials
Should your practice invest in medical billing software?
By Aiden Spencer bio There has been considerable debate among physicians about whether or not it is beneficial to get an EHR (electronic health record). If your practice is having this debate, let's evaluate the benefits and problems associated with an EHR and see if one is right for you. [Full disclosure: I have abundant experience in the field because I am working for a … [Read more...] about Should your practice invest in medical billing software?
How to deliver a great presentation on any topic
To grow in the job, a manager has to communicate ideas and visions and recommendations. And the presentation of them counts. "It doesn't matter how good the idea or how brilliant the insight," if it isn't well articulated, it fails, says Patricia Fripp, CSP, CPAE, a San Francisco executive speech coach. Worse, the manager's career can fail right along with it. Here are the … [Read more...] about How to deliver a great presentation on any topic
ICD-10: from transition to full implementation—and the first round of updates
The transition from ICD-9 to ICD-10, which took effect October 1, 2015, has significantly impacted health care providers. An entirely new set of codes as well as expansion of codes for greater specificity are now required. ICD-10 is a completely different system. The code set has been expanded from five positions (first one alphanumeric, others numeric) to seven positions. … [Read more...] about ICD-10: from transition to full implementation—and the first round of updates
Staff work as a financial team and increase the up-front payments
With all its staff – front desk, billing, and clinical – working as a financial team, a North Little Rock, AR, surgery practice has increased its pre-surgery payments by 25 percent. “It’s not rocket science,” says Linda Atkins, manager of Neurological Surgery Associates. “It’s just common-sense things.” Every staffer “looks at the money picture” and has a role in it, she says, … [Read more...] about Staff work as a financial team and increase the up-front payments
Incorrect medical coding corrupts the core data used by health care facilities, has negative consequences throughout health care industry
Guaranteeing accurate, consistent medical codes and patient histories is one of the major challenges for providers and payers today. Medical codes are the starting point for understanding quality of care and making necessary improvements. "Medical codes are the core data used in every aspect of modern health care—every provider, payer, and facility relies on them," says … [Read more...] about Incorrect medical coding corrupts the core data used by health care facilities, has negative consequences throughout health care industry
Colorado practice cuts costs by hiring IT staffer
Manager Arlene Zimmerman had an IT cost awakening when the computer went down. She called in the vendor's tech support and paid $100 to find out the computer was simply unplugged. "I told myself 'never again!'" says Zimmerman, who manages four-physician Colorado Springs Family Practice in Colorado Springs, CO. So she started on a path of building up as much IT support as … [Read more...] about Colorado practice cuts costs by hiring IT staffer
Practices recognize that health care compliance management must be addressed, despite challenges
A nationwide survey finds health care organizations and businesses, including medical practices, confront time and staffing challenges when it comes to health care compliance management. Expertise is also an issue, as is keeping up with changes. Nevertheless, medical practices and other health care providers recognize the importance of health care compliance management. The … [Read more...] about Practices recognize that health care compliance management must be addressed, despite challenges