Medical billing can be time-consuming, yet, if you’re like many physicians who are in private practice, you have your staff handle patient billing in-house. No doubt you know that billing is also one of the most complicated aspects of running your own medical practice.
Medical billers must have a comprehensive knowledge of various aspects of physician practice management. They must know billing and coding as well as explain the costs of medical treatment to a patient in person. They must also know Medicare/Medicaid regulations, HIPAA, and other complex state/federal guidelines, insurance requirements, and more.
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The ability to be nimble in today’s healthcare environment may determine whether you stay in business, or not. Healthcare facilities today face numerous obstacles and increasing pressure in their efforts to control costs. A tight labor market, decreasing reimbursements, increasing cost structure, an ever-changing regulatory environment, and a complex payer mix. These and many other challenges simultaneously impact healthcare providers on a variety of fronts: revenue, costs, risk exposure, and outcomes.
The revenue cycle management market is expected to grow at a compound annual growth rate of 7.2 percent from 2014 to 2019, and it is one of the functions healthcare providers outsource the most, according to a recent report from MicroMarket Monitor.
We’re starting to get a better picture of how artificial intelligence could help doctors better treat cancer.
Cameron Cox, is a regular keynote speaker for leading industry groups like MGMA, HFMA and medical societies across the U.S.
Amazon has announced that its smartspeaker voice assistant Alexa is now HIPAA-compliant and can serve as your very own healthcare valet.