Generally, gastroenterology medical billing involves billing insurance companies for a patient’s gastroenterology procedure using the related codes and practices. It is imperative to use accurate medical coding to ensure that insurers have all the diagnostic codes necessary for timely payment. In addition to demographic assessments, studies of disease prevalence, treatment outcomes, and reimbursement systems based on accountability, accurate coding is crucial. In essence, gastroenterology medical […]
Most gastroenterologists find it hard to answer the question, “Is my practice financially healthy?”. With declining reimbursements, complicated regulations, and growing patient responsibility, maintaining the business side of the healthcare practice can be difficult. However, the good news is that the right combination of technology and services can help. As a result of an intense advocacy effort led by the American Gastroenterological Association, CMS has […]
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 […]
If you work for a hospital or health system, you’ve likely heard the term healthcare revenue cycle used around your place of employment. But what exactly is this process? And why do hospitals need to track all administrative and clinical data? In an era of increased complexity within the healthcare industry, it is vital to have a better understanding of the healthcare revenue cycle management […]
Medical Billing and Revenue Cycle Management are integral parts of the healthcare industry and are one of the professional technological solutions that healthcare workers rely on frequently. If, for instance, the billing fails in a reputed clinic, then every operation that happens on a day-to-day basis fails. Often, many billing services companies fail to provide or delay the expected outcomes owing to not having a […]
A primary question faced by almost all practices is should they outsource their medical billing or keep it in-house. The right answer to this predicament will differ from practice to practice, and it will be established on several factors, including finance, size of the workplace, knowledge and age of the business. Therefore, to come to the right decision it is required to assess your practice’s finance, volume metrics and staffing.
Health care reform, bad debt, and regulatory changes are all having an impact on the revenue cycle, as the health care industry is evolving at a breakneck speed. To overcome these challenges, we have to adapt strategies for a revenue optimization program that can offer a confirmed method to maximize revenue and implement practices that boost profits.