Medical billing revenue cycle management is a complex and ever-evolving process, and one of the key measures of success is first-pass claim acceptance rates. A claim is either accepted or denied when submitted to an insurance company. First-pass claim acceptance rates refer to the percentage of claims accepted on the first submission. This blog post …
Collecting patient payments is an essential aspect of healthcare revenue cycle management. However, it is also one of the most challenging tasks healthcare providers face. According to recent studies, patient collections account for up to 30% of a healthcare organization’s revenue, and yet nearly 70% of patients with outstanding balances do not pay their bills …
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1. Introduction Payment posting is a critical step in medical billing because it ensures accurate and timely reimbursement for healthcare providers. By properly posting payments, healthcare providers can track the amount of money they have received from patients and insurance companies, identify any outstanding balances, and reconcile their financial records. This allows them to manage …
Medical billing is a complex process that involves multiple codes, regulations, and policies. One of the codes used in medical billing is CO-45. This code is used when a medical procedure or service is considered experimental or investigational and is denied by insurance providers. According to the Medical Group Management Association’s (MGMA) 2020 Practice Operations …
Managing a medical practice can be a daunting task, with increasing patient expectations, regulatory requirements, and a growing demand for quality healthcare services. Bellmedex, a comprehensive healthcare management solution, can help practitioners streamline practice management and billing processes, maximize revenue, and optimize patient care. Advanced Billing Capabilities: By automating many of the time-consuming tasks involved …
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Medical billing is a crucial process in the healthcare industry. It is the process of submitting and following up on claims with health insurance companies to receive payment for services rendered by healthcare providers. Medical billing involves a range of activities, from verifying patient insurance eligibility to coding medical procedures accurately. It is essential to …
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Medical billing and coding are essential aspects of healthcare management, and it’s no secret that it’s a complex process. The process of medical billing and coding can be confusing and overwhelming for healthcare providers, especially when the codes and regulations are continually changing. That’s why it’s essential to understand the fundamentals of medical billing and …
The core concepts on the minds of revenue cycle management leaders are revenue protection and doing more with fewer resources. Managing revenue cycles for healthcare professionals involves patient scheduling and registration, insurance verification, coding and submission of claims to payers, follow-up on claims, properly reconciling accounts, and collecting payments. Because of the complexity of these …
11 Medical Billing and Revenue Cycle Management (RCM) Trends in 2023 Read More »
The No Surprise Act, which was enacted earlier last year to protect patients, payers, and potential buyers from excessive and unexpected out-of-network medical bills, has been a hotly debated topic in the United States. Many providers and practices are not pleased with the new regulations. In response, some providers have filed lawsuits challenging the constitutionality …
Surprise Medical Billing: How it Impacts Both Patients and Providers? Read More »
Every American needs high-quality, inexpensive health care, but sadly this can be prohibitively expensive for many families. One of the reasons for this spike in healthcare costs is due to increased private equity purchases. Investor-owned physician practices, and their patients, are caught in a conflict between financial goals and delivering quality care. This is apparent …
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