Healthcare IT Blog

While we are still in the middle of summer, it’s prudent to look ahead to next year to prepare for potential changes in how your medical practice will receive payments for services rendered. Whether your patient population currently consists mostly of Medicare patients or only a portion, it’s imperative to stay on top of regulations and updates that the government issues regarding healthcare coverage. And consider that local demographics may be changing, leading to more Medicare patients coming through your doors in the years to come. It can be challenging to carve much time out of your already busy schedule to keep track of what’s happening with Medicare lately. With that in mind, here’s a look at proposed Medicare fee schedule changes that are anticipated for 2023.

Medical Billing: Claim Submission and Follow Up "Medical billing is the process of submitting and following up on claims with health insurance companies in order to receive payment for services rendered," as stated on HBMA. Without submitting clean claims on a timely basis, it doesn't matter how many patients you see or how many services you render.

High Deductibles Have Lead to Difficulties Collecting for Services Rendered One of the latest healthcare challenges for many Americans today are the out-of-pocket, healthcare expenses. It is becoming apparent that high-deductible healthcare plans can pose a financial risk to people of low-income and those with chronic illnesses as found on USC News. If patients, especially those with chronic illnesses, are struggling to pay their out-of-pocket deductibles, providers are going to have the hardship to collect for services rendered.

Why Key Performance Indicators (KPI)? It is becoming proven that any business should be tracking and analyzing those unique factors that are relevant to the success of their organization through their key performance indicators (KPI).