Tag: Medical Billing

The Top 10 Challenges Faced in Medical Billing and How to Overcome Them

Medical billing is a complex process that involves multiple layers of guidelines and regulations. Practitioners including physicians, dentists, and healthcare providers work hard to provide exceptional healthcare services to their patients while navigating the complexities of reimbursement policies and billing procedures. Medical billing errors can cause damage to both healthcare providers and patients, which is why it is essential to overcome the top challenges faced in medical billing.

Medical Coding Company Hiring Guide: Key Considerations to Check

Medical coding is an intricate part of the healthcare system. Medical coding companies are responsible for the transformation of healthcare diagnoses, procedures, medical services, and equipment into universal medical alphanumeric codes. While doing your medical practice, it is important to assign the duty of medical coding to a medical coding and billing company to avoid the extra hassle of non-medical practice. Medical coding companies will have a duty to take care of coding and assist to increase your revenue. A trusted medical coding company helps you to reduce stress by cutting down the healthcare debt.

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The HIPAA Privacy Rule and Your Medical Practices

HIPAA Privacy Rule restricts the Uses and Disclosures of Patient Information. The main goal of the Privacy Rule is to ensure that an individual’s health information is adequately protected while permitting the flow of health information required facilitating high-quality health care. The information retained or transmitted by business associates or health insurance might be in electronic, oral or paper form. This information is named “protected health information” or PHI.

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Conduct a Medical Billing Audit: Maximize Practice Success

A medical billing audit is a process that helps to ensure accuracy in medical billing and coding of medical procedures. The audit involves a review of the documentation associated with a patient’s treatment, as well as a comparison of the charges to the actual services rendered. In some cases, the audit may also include a review of the coding used to describe the services. Medical billing audits can be performed by insurers, government agencies, or third-party organizations, like medical billing companies.

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Protect Your Practice from HIPAA Breaches

The Health Insurance Portability and Accountability Act, or HIPAA, is a set of federal regulations that protect the privacy of patients’ health information. HIPAA covers everything from medical records and insurance information to laboratory test results and X-rays. Under HIPAA, only authorized individuals are allowed to access this information. However, there have been a number of high-profile breaches of HIPAA in recent years. In some cases, hackers have gained access to patient records.

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2022 Changes in Medical Coding Guidelines

The physicians and healthcare providers use ICD-10-CM(International Classification of Diseases, Tenth Revision, Clinical Modification) to classify and code all investigations, systems and processes. The World Health organization published ICD-10-CM, which is based on the International Classification of Diseases. It uses different alphanumeric codes to identify diseases and other health issues. Physicians, nurses, coders, health managers and many other health professionals use coding systems to store and retrieve diagnostic data.

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Ways to Boost Your Practice Cash Flow

Due to the latest policy compliance or any government program, you may face scrunched cash flow leading to fewer payments. The physicians also face challenges due to the new MACRA quality payments program. It focuses on reporting the quality metrics and collections. There is a need to consider the hindrances of maximum cash flow if you are not meeting your revenue targets.

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Tag: Medical Billing

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