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Personal health records (PHRs) are an important resource to help practices provide patient-centred care. Currently, the most common functions performed by PHRs include record keeping, secure messaging, and appointment scheduling and bill payment. Yet, other PHR features could help facilitate patient engagement in their medical care, including use of plain…
Medicare Part B Medicare Part B (medical insurance) helps cover medically necessary services and supplies needed for the diagnosis or treatment of your health condition. This includes outpatient services received at a hospital, doctor’s office, clinic, or other health facility. Patients would be glad to know that Medicare Part B…
Over the past several years, in an attempt to minimise the financial damage of the economic turn down, payers have increasingly turned to aggressive and robust audit events to minimise the amount that they pay providers for providing healthcare services to their subscribers. The federal government is no stranger to…
A myocardial infarction (MI) or acute myocardial infarction (AMI), commonly referred to as a heart attack, occurs when one or more coronary arteries that carry blood to the heart are blocked. Symptoms include chest pain, pressure, or tightness, which may move into the jaw, neck, throat, or arm(s). Patients also…
There are several ways to work on increasing revenue at a medical practice, from streamlining processes to working with fewer support staff. Any practice can, with some preparation, identify areas where costs could be cut for the good of the organisation’s finances. Diversifying services is a smart way for medical…
It is essential that every physician practice verify the insurance eligibility and benefits of patients before services are provided. There are many missed opportunities to secure income and reduce staff time when patient eligibility is not verified at the time of check in. Training staff to complete this task can…
What is EOB? An explanation of benefits (commonly referred to as an EOB form) is a statement sent by a health insurance company to covered individuals explaining what medical treatments and/or services were paid for on their behalf. The EOB is commonly attached to a check or statement of electronic payment. In most cases your physician has signed a…
Medical billing is a frustrating process for counsellors who are often juggling too many business tasks, as well as trying to provide excellent clinical care. In fact, many counselling practices collect less than 85% of the monies that they’re rightly owed from insurance companies. However, with good planning, and a…
Overcoding and undercoding are two coding mistakes that can have damaging results on the medical office. Medical coding is not just about receiving reimbursements for services provided. Coding claims accurately lets the insurance payer know the illness or injury of the patient and the method of treatment. Overcoding is Fraud: Overcoding leads to insurance companies making much higher…
According to a research conducted by the Medical Group Management Association, better performing practices generate more revenue, create operational efficiency, ensure provider productivity and collect receivables quickly compared to their peers. It is important to review the AR on a regular basis to ensure the practice is collecting payment for…
