Even when your healthcare practice already provides top-quality medical services, there are still ways to improve its operations. One area that should be assessed is its medical billing process, an important aspect of compensating its services.This article will explain in detail the various stages of...
Healthcare practices must function cohesively to give each patient quality medical care. While medical professionals manage the medical aspects of their practice, management experts handle the non-clinical aspects. They serve as a crucial tool for improving operational efficiency and enhancing patient care.What Is Medical Practice...
Medical coding plays an important part in the healthcare industry. It serves as the backbone of the reimbursement cycle and helps healthcare providers receive appropriate compensation for their services. By translating complex medical information from patient records into standardized codes, medical coders facilitate accurate billing...
With the fast-evolving healthcare environment, practices are often stretched thin, with medical staff managing a multitude of responsibilities to offer optimal medical care and operational efficiency. As healthcare professionals increasingly focus on delivering quality services, they require additional support in various areas of their daily...
The healthcare landscape is in constant flux, and medical billing is no exception. Administrative changes, driven by evolving regulations, technological advancements, and shifting payer priorities, are reshaping how clinics manage their revenue cycle. Staying ahead of these changes is crucial for financial health and operational...
https://youtu.be/HCJ8QDaIRC8?si=7WT4YaMbY01ymIMF An important aspect of managing a healthcare practice is deciding which payer sources to work with, particularly when it comes to insurance. The choice of insurance providers can significantly impact cash flow and financial planning. It is advisable to diversify the range of insurance providers...
https://youtu.be/eLdRJ1fRMCA?si=JAvxiRP1moTas39Y Expanding a healthcare practice is a natural progression for many successful businesses, often driven by the desire to reach new markets and serve a broader community. Many practices opt to expand into nearby states or regions, such as a Texas-based practice moving into Colorado, or...
https://youtu.be/-oRqn0Oprk4?si=__mEdq4jHyUwzVqh For healthcare professionals in private practice, staying informed about legislative changes is significant, especially when it comes to reimbursement rates and authorized billing codes. Legislative decisions directly impact the financial viability of practices and, in turn, the ability to provide quality care. Each state has...
The focus of many healthcare practices has evolved to include a significant emphasis on disability work and advocacy, and this shift is not just a professional decision but often a reflection of a deeper commitment to supporting families and individuals in accessing the resources they...
https://youtu.be/b_KcLu_wmuU?si=oVJptLivVL2bjvAZ Managing finances in a healthcare practice is important, especially when it comes to handling outstanding payments. When services rendered aren't immediately compensated, these unpaid amounts transition into what is known as Accounts Receivables (AR). AR can potentially be written off during tax season, but ideally,...