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.
Despite what doctors learn in medical school about patient billing practices (i.e., keep it in-house), times are changing. Billing is now as complicated as anything else about the business of running a medical practice.
Medical billing and coding are complicated. For many medical practices, they are often overwhelming when combined with all the other responsibilities your staff has. If this process is plaguing your practice, a structured revenue cycle management (RCM) system may need to be implemented to help your practice operate more smoothly and optimize cash flow.
Obviously, collecting payments is crucial to the profitability and cash flow of your medical practice. However, due to the trend these days toward more high-deductible plans and higher co-pays, many patients are finding it difficult to pay their bills.
A patient financial policy is a crucial step in the patient revenue cycle. It is an opportunity for a practice to communicate their financial expectations to the patient as well as document the patient’s understanding.
You’ve noticed that one of your employees has been making a lot of errors recently. Or maybe a staff member always seems to be behind on his work. Before letting the employee go, take some time to consider your next move. With a little time and effort, you may be able to uncover the deeper […]
Safety, confidentiality, technology. For physicians, managing risk goes beyond making sound clinical decisions. With all of these areas to monitor, communication plays a big role in risk management.
