It almost goes without saying that the needs of pain management practices are quite different from those of other specialties. Addressing the needs of patients coping with acutely painful situations and managing patients’ chronic pain properly while meeting law enforcement requirements can spell the difference between a relatively speedy recovery or prolonged care that may include complications.

Have you considered hiring a medical billing company, but aren't sure that is the right step for your practice? Maybe your organization is having trouble reworking denials or you have a higher than expected percentage of claims sent back due to incorrect coding or patient data. Every practice has different pain points, but almost every medical enterprise could use some help improving their reimbursement rates and lowering the charge off ratio. Hiring a medical billing company can help you achieve those goals.

When considering the impact of medical billing mistakes in your organization, let’s begin by recognizing that to err is human and to forgive is divine. Discovering there are problems doesn’t need to devolve into a wave of finger pointing and blame. But recognizing that you are making mistakes with your medical billing can be positive because now you can make an effort to correct them. When you take care of the mistakes, the results should be less stress on your already busy staff, improved revenue flow and the confidence that comes with knowing you have set your system right. Are you and your team making these three medical billing mistakes?

It makes sense that owners or managers of medical organizations would set up a billing process and then continue to use it over the years without ever analyzing it to see if it could stand some improvement. After all, if the software was working properly after you first implemented it, you may have considered the matter settled. The old adage that if it isn’t broken, don’t fix it comes into play more times than you might imagine in modern medical offices. But software and computer technology will continue to advance, as does our ability to connect with one another over the network and exchange information. Failure to stay on top of such developments and take advantage of them will naturally lead to inefficiencies, relatively speaking. Just because your office seems to be functioning properly, it doesn’t mean that your employees are working at their best capacity. They may be working around the inefficiencies instead of realizing that improved software would help them do their jobs better. In fact, you may determine that now would be a good time to consider installing new software as well as outsourcing your medical billing process to third party experts. Here are five reasons why your medical billing process is inefficient.

As the manager or owner of a thriving medical practice, you know that it is prudent to routinely take time to look at the entire business and see how its processes are integrated. To that end, increasingly sophisticated software offerings are now available to medical practices to help ensure things really are humming along, and you don’t want to miss out on any potentially helpful solutions. Two “off the bat” solutions are systems are electronic health records (EHR) and practice management (PM). Many practices opt for an all-in-one EHR-PM system. Once set up, you have essentially deployed an in-house capability for revenue cycle management (RCM). Adding a patient portal will do wonders for increasing patient engagement and connectivity between practice and patient, and vice versa. With these thoughts in mind, here are four technology trends that indicate a healthy practice.

The following excerpt is from an article found on Beckers Hospital Review. It was written by Kelly Gooch. ------------------------------- Medical practices are always looking for ways to maximize patient care. To achieve this, there are various strategies physicians can use to streamline revenue-related processes, according to the American Medical Association. The AMA said it's important that physicians have a practice management system in place that works best for staff and medical personnel before implementing new processes. Once a medical practice management software is in place, the AMA recommends practices take advantage of these six ways to make revenue cycle management processes more efficient.

Managing growth may become one of your more interesting challenges as your medical practice becomes ever more successful. As you take on more patients and offer a wider array of RCM services or additional specialists, for example, your revenue expands as well.

The following excerpt is from an article found RevCycleIntelligence.com. It was written by Vera Gruessner. ------------------------------- Revenue cycle management remains relatively elusive in the new healthcare landscape, as new regulations and reforms have led the industry to evolve and left many hospitals scrambling to keep their revenue strong in a value-based care reimbursement model. Today, technology platforms can play a role in assisting providers, payers, and consumers communicate and interact more efficiently, which will lead to a more durable revenue cycle management strategy. There are several key areas that revenue cycle managers could focus on to ensure their medical facility optimized their reimbursement.

While you may not have gotten into the medical business primarily to make money and are more focused on patient care and improving the general health of your community, it would be nice to have appropriate business processes in place to help you keep the lights on. Factors that are difficult or impossible to control for include the local economy, the demographics you serve and the current state of the insurance industry. What you can do, though, is make changes in your organization that will lead to a better flow of payments. With that in mind, here are medical billing tips to help boost your practice’s revenue.

The following excerpt is from an article found on Revcycleintelligence.com. It was written by Catherine Sampson. ------------------------ In some cases, definitions for terms and acronyms related to healthcare revenue cycle management can come across as fairly straightforward. Other times, they can sound more like a foreign language. A healthcare professional may find it difficult to fully comprehend various acronyms, such as MIPS and MACRA, as various agencies word their definitions/interpretation of laws slightly differently. Listed below are definitions as well as supporting details for phrases that come up all over the place for anyone who does a Google search on “healthcare revenue cycle management.