Medical Billing Blogs

  In 2004, the Centres for Medicare and Medicaid Services (CMS) launched the Hierarchical Condition Category (HCC) code set. While approaching its 20th anniversary, HCC coding is becoming more common as healthcare shifts to value-based payment models, a change that has been actively pursued over the last decade. HCC, as it is colloquially known, was created to estimate and possibly predict a patient's healthcare costs over the course of his or her life. It requires a long-term perspective on multiple conditions, factors, and determinants that may affect their individual prognosis over many months or years. HCC codes are directly related to ICD-10 codes - approximately 10,000 ICD-10 diagnosis codes out of 70,000 diagnoses are directly related to at least one of the 86 HCCs. HCC coefficients vary depending on the patient category. The HCC set assigns risk scores to patients based on demographic factors such as age and gender. There are lot more things to know about the HCC Co...

 As a doctor or health professional, you are always overburdened with work. It can be harder to cope up with the legal aspects of your business while caring for patients and running your practice. Nonetheless, it's vital to consider the potential blunders that could land you in a medical malpractice lawsuit. Remember the following pointers to help mitigate risk and keep your patients delighted. Bad communication is one of the risks that doctors must avoid.  When handling a medical practice, the basic strategy should be honest and forthright interaction. This is why it is considered as complete transparency. Patients are more tolerant and accommodating of errors when they assume their practitioners genuinely care about them and get their best interests in mind. In recent years, malpractice lawsuits have dropped significantly, thanks to doctors providing simple explanations when dealing with complex outcomes.   However, it is crucial to acknowledge that an unfavorab...

  The healthcare business is continuously changing. How hospitals and health systems respond to these changes can make all the difference in their ability to maintain a healthy bottom line and continue serving their communities.   The factors that will drive revenue cycle market momentum in 2022 and beyond are technology, investments, efficiency, patient experience, underpayment recovery, and coding automation.   We are witnessing a new surge of consolidation, inventiveness, and innovation following a lengthy period of struggle due to COVID-19 and an already challenging economic situation for hospitals and healthcare organizations.   Here are some critical medical billing  statistics  -    ·          75% of patients are searching up the cost of medical treatments online. ·          62% of patients said knowing their out-of-pocket expenditures beforeh...

  The 2021 year has been a flash of events, and we’re already looking at the end of this fantastic year with Thanksgiving around the corner. Though the year was filled with upside and downside events, it has been a game-changer for many industries, including the medical industry. Many medical institutions and practitioners have outsourced their  medical billing services  to gain all the benefits from it.  Grab this Offer :  https://bit.ly/3oGpQdN This year  24/7 Medical Billing Services  has a unique way to celebrate Thanksgiving by offering all of our benefits services such as  Medical Billing & Coding, Credentialing Services, Denial Management,  Revenue Cycle Management ,  among others to help medical institutions & practitioners focus more on patient care and reduce their infrastructure & workforce costs. This year we’re bringing you some Irresistible  Thanksgiving Offers  on our  Medical Billing Service...

  Are you facing an unwanted revenue leakage in your practice? Are you unsure how to fix it? Let’s understand what exactly revenue leakage is and what causes it before looking for solutions. Understanding revenue leakages in medical practices Revenue leakage is the lost opportunity to collect money earned from your practice. The reason for revenue leakage can be incomplete, un-billed, or inaccurate billing, being the primary reasons. All this is connected within a complex network of multiple processes called the Revenue Cycle. This enables the healthcare system or infrastructure to manage and collect payments for the care services provided to their patients. Sounds simple right when there is a system in place already? Well, there is more to it. These processes include a lot more parameters than just simply billing a patient and receiving the money, such as insurance and its eligibility factors, patient registration, claims submissions and approvals, accurate report generation...

  Medical billing errors or blunders may sound like simple mistakes but they are reasons for major problems in the healthcare industry. Finding out these mistakes and avoiding them in time is important than ever. Best of the best medical billing services can make mistakes but only a few have advanced in their practices to avoid and prevent them from happening again and again. Medical Billing Blunders – Errors An ideal medical practice needs a steady and reliable revenue stream in order to run it smoothly. Unfortunately, challenges in medical billing and errors in between may affect its success for a long time. Even if you are experiencing delayed payments, denials, customer complaints, or lost productivity; errors in medical billing hamper your practice. Reducing such errors is necessary to your bottom line, so it’s important to think about the most common medical billing errors/blunders and put measures to prevent them from impacting your revenue cycle management. The re...