As the advent of a new year draws, healthcare providers in the field of gastroenterology are posing the question of what current trends in medical billing are being observed, and whether adjustments to their practice should be made accordingly. While it is acknowledged that trends can be uncertain in terms of committing time, resources, and energy to adopt new tools and resources, it is important […]
Coding is an essential aspect of medical billing and reimbursement, especially for gastrointestinal (GI) procedures. It involves the use of standardized codes to accurately describe the procedures and services provided to patients. Some common examples of GI procedures include colonoscopies, endoscopies, and biopsies. To code accurately for these procedures, it is important to understand the specific procedure being performed and the specific codes that are […]
Gone are the days when revenue cycle management was simply about collecting payments from patients. Rather, it is now an essential tool in any healthcare organization’s marketing strategy to amplify all sources of revenue. Among these sources are private medical insurance, government funding (Medicare, Medicaid, CHIP, and military health insurance programs), and patient out-of-pocket payments. A few private hospitals and clinics are also able to […]
Many medical professionals and facilities experience claim denials, but in reality, the process is often misunderstood. In most cases, claim denials result from failing to verify benefits properly before providing services. Verifying insurance eligibility and obtaining prior authorization is an essential step in the medical billing process. Any practitioner or medical professional providing a service or medication must be willing to follow this process to […]
It can be a frustrating experience for everyone involved when a patient’s insurance claim is denied. In addition to being stressful for you and your patients, it can negatively impact the business cash flow too. Although some claim denials can be successfully appealed, they can nonetheless temporarily leave claim status up in the air, which is undesirable for both your practice and your patients. In […]
For any healthcare provider, keeping up with patient reimbursement is a constant challenge. High deductibles might seem like a good strategy initially, but they don’t always pay off in the end. Over the last few years, the total percentage of patient payments has increased significantly owing to the fact that more patients choose High Deductible Health Plans (HDHP). The results of a survey on healthcare […]
The medical billing process can be equally complex and frustrating for providers and patients. To get paid, providers must submit accurate and complete claims to insurance companies, which can be time-consuming. What’s more, insurance companies often deny claims or only pay a portion of the billed amount, which can lead to significant reductions in revenue. As a result, improving medical billing and collections is a […]
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