The use of EHR systems for the healthcare industry is pivotal and one of the biggest investments for a practice to have. The article below discusses how EHR systems can boost collection results by easing the process of the revenue cycle. More modern EHR systems have the ability to handle most aspects of the front end of the revenue cycle. So how does the EHR system boost collection results?
What’s the Problem?
Sequestration underpayments have been improperly withheld from provider payments by many Medicare Advantage Organizations [MAO] in violation of CMS guidelines that were issued on May 1, 2013.
HIPAA AND THE TCPA
Did you know that the Telephone Consumer Protection Act (TCPA) and HIPAA go hand in hand?
To meet your revenue goals, you need to collect every dollar owed for the services you provide. With the increases in high deductible health plans, it is critical for practices to have an effective process for collecting patient payments – not only at the front desk, but also on the back-end once insurance payments are received. Even with the best efforts by the practice and/or an outsourced billing service, not all patient balances will be collected. These difficult balances create the need for effective policies and procedures for turning patient accounts over to a collection agency.
Physicians’ path to re-entry after a prolonged break from practicing hasn’t gotten much smoother amid a growing workforce shortage in primary care, according to an article from Kaiser Health News.
You don’t have to be told how time-consuming it can be to track down medical billing records when they’re in paper form. Yet, you still haven’t made the move to paperless for one reason or another.
Medical claims are a major part of the profitability of your practice. It can also be a major source of revenue loss when claims are denied.
Medical offices are often fast-paced environments where common, even simple, mistakes can and do occur. Sometimes, the staff is so focused on delivering gold standard patient care your practice is known for that these types of errors happen.