Almost 40% of Americans recently reported they were deferring medical care due to the cost of treatment.1 This is particularly true for Americans with low incomes, who have reported cancelling treatment for even the most serious conditions due to an inability to pay for necessary services.
Effective coding, billing and collection processes are vital to ensuring timely and accurate payment for practice services. In the absence of strong procedures and systems, you put your medical group's financial stability at risk.
Denial prevention and effective denial management strategies are key to maximizing the revenue potential for the healthcare services you provide to your patients.
In the United States, prior authorization (“PA”) is a cost-containment tool utilized by payers to reduce payment for medically unnecessary or inappropriate patient care. Despite its laudable policy goals, the use of PA faces
The No Surprises Act of the 2021 Consolidated Appropriations Act (“NSA”) established requirements for healthcare providers to deliver Good Faith Estimates (“GFEs”) for scheduled services or upon patient request.
Federal price transparency requirements for hospitals from the Centers for Medicare & Medicaid Services (CMS) provide patients with an unprecedented amount of insight into the costs for medical services.1
In theory, more pricing information should ...
It's common for anesthesia practices to turn to anesthesia billing companies for revenue cycle support. But is your billing company doing what it should be doing for your physician group?
On August 19, 2022, the Departments of Health and Human Services (“HHS”), Labor, and the Treasury (“the Departments”) issued a Federal Independent Dispute Resolution Process Status Update.1 In the statement, the Departments reported that between April 15th and August 11th, 2022, providers initiated ...
There is no doubt that many healthcare systems and practices are in a strenuous financial period. Organizations need to quickly identify opportunities to reduce costs and increase profitability, which is making them seriously consider
In the United States, an estimated 43 million Americans hold a total of $88 billion in medical debt on their credit reports. Patients often incur these expenses unexpectedly, leading to high rates of bankruptcy. Healthcare organizations are now facing increased scrutiny over patient billing and collection practices.Read More