As medical insurance deductibles continue to increase, medical practices must put processes in place to ensure they maximize patient collections. Here are four simple steps you can take today to optimize your patient collections. How Does a Medical Practice Maximize Patient Collections? Consistently send patient statements. Patient statements should be sent at least monthly. Once three […]
Medical practices cannot conduct business in today’s market like they have in the past. Medical costs are soaring, and reimbursement is not increasing at a rate to offset expenses. It is vital that we have a pulse on our revenue cycle to ensure timely and accurate reimbursements. What you could lose There are many cycles a claim […]
When is the last time your practice reviewed its fee schedule? We find most practices set a fee schedule and seldom perform annual reviews. Fee schedules get outdated just like coding. Every year, payers update their fee schedules for current and new CPT codes, so it makes sense for medical practices to do the same. What You […]
The healthcare industry is undergoing unprecedented change. The transition from fee-for-service to fee-for-value is a big challenge for physicians and care teams. Long-time fee-for-service physicians are struggling to bridge the revenue gap while implementing new workflows and processes to thrive in the new value-based care model. These new processes take time to identify and implement, and many […]
