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The financial performance of your health care facility is impacted greatly by medical billing, patient accounting, and account receivable management. Great organisation is important in maintaining clear records and keeping patient confidence high. Medical billing services handle the day-to-day accounts receivables functions to alleviate these concerns and let you do…
The Centers for Medicare and Medicaid Services (CMS) have extended reporting deadlines for 2014 Meaningful use and the Physician Quality Reporting System(PQRS) until March 20, 2015. The Meaningful Use extension applies only to the Medicare Electronic Health Records (EHR) Incentive Program. The extensions do not affect deadlines for the Medicaid…
The business of medicine is highly complex, ever changing, and tightly regulated. Healthcare regulations are not always definitive, and may vary by payer, geographic area, and the setting in which patient care is provided. Your practice works hard to monitor revenue and expenses, invest regularly in staff training, and implement…
Capitation is a payment arrangement for health care service providers such as physician or nurse practitioner. It pays a physician or group of physicians a set amount for each enrolled person assigned to them, per period of time, whether or not that person seeks care. Capitation payments are used by managed care organisations…
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…
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…
