Medical Billing Blogs

  Every medical provider understands how tricky it is to be compensated for their services. According to 73 percent of healthcare providers, it takes 30 days or more to recover their payment fully. The payment cycle is complicated by various issues, such as: ·          Changing payer fee schedules, ·          Complicated billing procedures, ·          Government directives, ·          A lack of training and resources, and ·          High-deductible health plans. Furthermore, the critical communication triangle between the patient, the healthcare provider, and the insurance company exacerbates the problem. Medical providers must develop strong systems and procedures to ensure long-term success in order to be paid efficiently. This blog will provide you with proactive tips t...

  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...

  Did you know? According to an American Hospitals Association report, the total cost of uncompensated hospital care since 2000 has exceeded $620 billion. As per another survey, 99% of medical bills in excess of $3,000 were not paid in full. Furthermore, bankruptcies in the health care sector have tripled with eight hospitals declared bankrupt and nine others closed their doors. Also, failures in claims processing, payments, billing, and bad debt collection cost healthcare providers $300 billion per year. All these statistics highlight a major issue confronting US healthcare providers today, i.e., revenue erosion. That’s why it is important to deal with these issues at the earliest and OUTSOURCING your medical billing is a one-stop solution to all your problems.   Let’s have a deep dive into the different reasons for medical billing outsourcing : ●         Fewer Errors: Incorrect patient data, duplicate billing, and authoriz...

  MGMA has reported that many physician-owned multi-specialty practices and groups often use non-physician providers (NPPs). According to the report, the reason is that the NPPs with the practices often generate higher income than physicians and are financially more viable. NPPs, however, need to function directly under the supervision of a physician to provide billable medical services. Therefore, registered nurse aestheticians, surgeons, or physicians' assistants can be included in the facility under the NPPs. Further under the Medicare fee schedule, the NPPs' medical practices can receive full payment and reimburse the amount for the services successfully by reporting the NPSS services under 'incident-to' for physician care. But CMS has implemented strict and complex guidelines for incident-to billing. That’s why physicians must understand the rules of the medical billing procedures correctly to receive full payment from the insurers for the services rendered ...

Fortunately, the post-COVID situation welcomes the new normal with the normal happenings of things. With this new normal, patients can actually walk into the hospitals without much shores happening around. In fact, patients report on time and get their medical consultations periodically. Undoubtedly, it signifies the upward revenue scale for healthcare providers. But simultaneously, the situation demands a reduction in the practice cost and stringent checks to ensure the conduct of medical billing and other additional care in a dedicated manner.   Furthermore, the significance of reducing the practice’s cost can result in investing the cash flow for improving patient care and satisfaction. This, in turn, will add value to one's practice by multiplying increased revenue.   Visit for more insightful info:  https://www.247medicalbillingservices.com/service/ To ensure all this is happening, here is the good news that all new and established medical centres and solo pra...