Healthcare in the United States rose to almost 18% of overall expenditures for the average household. Private doctors, medical practices, hospitals and surgical facilities monitor the ever rising costs for a multitude of expenses including the billing and collection of fees to their patients. Unlike a traditional business, the medical field must take into account health insurance, Medicaid and Medicare along with state and federal guidelines when billing someone.
The medical profession requires specialized tools in order to collect the money from patients and remain in compliance. Practice Management provides precisely what medical billing specialists from private practices to major metropolitan hospitals need by offering clarity, security and flexibility to secure the funds owed to them. Understanding how Practice Management supplies these benefits frees the professional to care for the ill and injured without giving a thought to medical billing solutions.
A medical billing department, no matter the size, must be able to track patients from the instant they walk in the door to the moment services address their pain or illness. Quality products and services from Practice Management, a medical billing company based in Illinois, incorporate both patient data and scheduling into the front end allowing the person greeting the patients to verify their mailing address, insurance information and collect important payment details like confirmation of the co-payment. Having these steps resolved at the front of the visit takes the burden off doctors and the billing staff.
Practice Management verifies critical details protecting the practice from the risk presented by patients requiring copies of their medical records, disputing their bills or seeking a second opinion from another doctor, especially those within the same practice. At every point along the chain, medical offices need tight security. Practice Management offers ideal safeguards for both the doctor and the patient. Billing a person for a procedure or office visit when they see confirmation of each aspect of their medical care cause fewer disputes and makes collections far easier overall.
Flexibility of Practice Management surpasses almost every other feature. By allowing the practice to customize the program to their specific needs, the billing department will never be concerned about being out of compliance with federal or state guidelines. Federal Qualified Health Centers (FQHC) must meet particular criteria to maintain their status. FQHCs submit reports noting they meet their care compliance including age ranges of the community they are serving and sliding payment scales. These details require precise tracking for which Practice Management fulfills ideally.
In addition to providing medical billing services for FQHCs, specialized facilities mandate precise billing and coding in order for insurance, Medicaid and Medicare to cover the doctor's fees. A missed code leads to an incorrect bill. An insurance company may dispute the charge requiring the patient to be billed. Practice Management can adjust to fit specific practices and their medical billing needs preventing excessive costs and disputed payments.
Medical professionals across many disciplines seek to offer superior care to the people in their community. The best way for them to follow through is by taking pressure off their billing department and using the medical billing services of Practice Management. All their files will be accurate, protected and simplified freeing them to take care of their patients.continue...
Maintaining the revenue of a health or medical practice is far more complex than most people expect. In Federally Qualified Health Centers (FQHCs), there are different departments that need to work efficiently in order to maximize revenue from patient billings.
FQHCs should therefore implement effective billing policies and procedures, while applying strategies in order to lower costs, increase revenue, and improve patient satisfaction and care. To maximize revenue, FQHCs can apply the following patient billing strategies.
Having a clear understanding of the overall cycle of revenue is very important in improving FQHC billing processes so that they function effectively. Many health facilities consider the submission and the subsequent payment of claims as the actual billing process when actually all the staff members in the health center play a very vital role.
Billing should begin when a patient books an appointment and end once the patient has been attended to and makes the payments. A FQHC should therefore establish proper billing process channels that include patient registration, charge entry, payment posting and the follow up on accounts receivable.
It is very critical during the FQHC billing process that the staff collect and enter accurate information regarding demographics and insurance once the patient visits the health center. For first time patients, the health center should have their insurance information, birth dates, telephone numbers and home addresses for effective billing. If the patients have been treated in the health facility before, the receptionist should ensure that the information is accurate upon the arrival of the patient.
Another strategy for improving FQHC billing for maximized revenue is by reconciling encounter forms with appointment schedules every day. This ensures that for each patient that gets attended to, a charge corresponds. The sum of the charges on the encounter forms must then be reconciled daily in the reports that the management system generates.
By doing this, the health facility should be able to track encounter forms that might be missing, hence ensuring that revenue is maximized. This FQHC billing strategy will help prevent the loss of revenue through nursing home and health center visits. One way of capturing all charges is by using preprinted index cards that physicians carry.
FQHC should ensure that they update their fee schedules annually. To maximize revenue, realistic charges should be set for all codes. By so doing, it will ensure that all reimbursements are achieved. The fees charged should be compared with other contracted or Medicare fees charged by health center billing services. Insurance companies tend to pay lower than the contracted or billed amount. This means that billing lower than the amount contracted will result in the health facility losing revenue.
In order to maximize revenue, a FQHC should communicate to all the patients its billing and financial policies. It could use, for instance, a single page document that summarizes its financial policies.
This document should then be signed by each patient and placed inside his file. The document should explain the terms of payments, authorizations, and insurance information, collection and cancelation policies. There are more strategies to imporve medical billing procedures for FQHCs, but start with these strategies to get an established system in place that will keep your FQHC financially healthy.continue...
Health centers are a general category of health care facilities that deal with a wide spectrum of patients. For this reason, health center billing efforts are often plagued by drastically delayed payments, making it difficult for health centers to survive financially.
In this unique post, we offer 5 tips to streamline the health center billing process. Let's jump right in.
The first thing a medical billing and coding specialist needs to do in the office is to check transcriptions. When nurses, doctors or other healthcare professionals meet with patients, they should take notes by portable electronic devices.
These notes become a very important part of patient care. However, they're not always streamlined. Some medical professionals can even write them in shorthand. Billing and coding specialists need to organize these notes into a single file, which can be easily cross referenced later.
The next step is to use transcriptions to build patient files. A medical billing and coding specialist needs to assign every treatment decision a particular code. Most of the time, this code is a number or letter-based sequence.
It signifies what the patient's treatment was for and how it's going to be billed. Usually, a doctor's time is billed hourly, which gets one code. Blood screens, urine processing and injections also need to be coded.
Regarding health center billing, health and medical center billing specialists also have to synthesize lab results and notes into comprehensive diagnostic information. This requires a medical biller to analyze everything he has done throughout the day, including transcriptions, codes and more. In order to synthesize information, a specialist needs to know how the system works. Medical billers should get trained on the job.
Most of the time, a major part of the medical biller's day is behind the scenes. Files keep coming in from insurance companies and medical offices without a lot of personal interaction. However, there are still many situations in which medical billing and coding specialists should be called to deal with patients to understand the situation.
There are chances that some patients may be confused about the information provided by the medical biller or raise a dispute. An insurance company may also deny coverage for something wrongly coded as a routine procedure. In such cases, a medical billing and coding specialist should interact directly with patients. Specialists should also reach out to medical professionals to get some sort of clarity on the situation.
Last but not the least, a health center should invest in an advanced billing software program. The software should be automated, and provide billers with every piece of information regarding health center billing.
It should be easy to use the program on a portable device, and billers should be able to enter information quickly. These days, many software programs are available in the market. You can choose from a wide range of options, and make sure your work becomes more convenient and easier.
A medical billing and coding specialist records and even processes health records in a hospital, insurance company or private medical practice. A medical biller is responsible for organizing different patient files.
This health center billing specialist makes sure that notes about various treatment regimens and exams are accessible and accurate. A medical biller may also process payments, including insurance claims and sending out bills. However, this may be a difficult job. Late payments and lots of file work can cause problems.continue...
There is no denying the fact that the specter of staff cuts and limited budgets looms large over many health centers. Many of them are found with no other option but to cut down on employee strength who are working on important projects.
It is now becoming quite common for many employees doing multi-tasking which in turn affects the overall reputation and goodwill of the health centers. There are many staff members who spend more time sorting out insurance claim of patients though their main job is to take care of the patients.
As a result, it is very important to find out ways and means by which health centers can generate more revenue and at the same time keep the quality of customers services unhampered.
One of the simplest ways to generate more revenue for such health centers is to ensure that the staff duties are allocated properly so that there is increased efficiency at all level. Duplication of work could be a big impediment to productivity and this should be avoided at all costs.
However, at the same time it is also extremely important that the employees are not overburdened with repetitive and unproductive tasks. The onus lies on the managers to find out ways and means by which the staff are made to do work that will directly and positively impact the revenues of the company rather than keeping them engaged in mundane tasks which could kill their time and also their zeal to perform better.
The medical billing process for health centers is something that occupies lot of time and effort. According to many studies, health center billing occupies almost 50% of the man hours and also contributes to a big size as far as salaries and other recurring expenses is concerned.
A better option would be to enter into some strategic partnership with a third party medical billing service provider and see that costs are reduced without efficiency of services being compromised in any manner. You can learn more from this trusted provider of health center billing services at www.MaximizedRevenue.com.
While readmissions cannot be completely ruled out, as far as medical centers that are run on grants and funding are concerned, it always makes better sense to restrict readmissions to the maximum extent possible. This would call for following the right post-care or post-treatment regimens where there regular contact with the patient and regular counseling that is given.
This certainly could go a long way in saving thousands of dollars. However, the health care center should know where to draw a line between real needs for readmissions or looking at other options. Learn more about readmissions and the Readmission Reduction Program at www.CMS.gov.
When health care centers are facing fund crisis, then the best way forward would be to look at ways and means by which revenue can be augmented. This could include adding new streams of services.
For example, even today many such centers do not have orthopedic services being offered to patients. This can be tried out because it is a very profitable line of service and there is a continuous demand for the same. There are a lot of funding opportunities worth exploring at bphc.hrsa.gov the official site of the Bureau of Primary Health Care of the Health Resources and Services Administration.continue...
Sickness is probably the most unfortunate thing that happens to human beings. It brings with it; suffering, unbearable pain and agonizing moments. What is even more frustrating is the high medical bill that always piles up whenever you seek out for treatment.
Since we never have control over when and whether we should get sick or not, it is always good to be financially prepared. This will obviously reduce the chances of being caught off guard, which may limit the chances of getting better treatment. Most people nowadays are running for the insurance cover to cater for their bills.
This however, may not always be the smartest move as majority of insurance covers only cater for the bill up to a certain limit, or may be unsuitable for re-occurrence diseases or where immediate medical attention is required. Furthermore, the high cost of premiums may be unfavorable and unaffordable to most folks.
The most appropriate option therefore, is to be thoroughly acquainted with information on how to mitigate these medical bills. This article will review seven best ways in which you fight high medical bills.
It is quite common that the medical bill may contain errors or incorrect information that results to higher charges. It is therefore highly recommendable to counter-check your bill to ascertain it is absolutely correct and reflects correctly how much you should pay.
Some common errors in this case may include; double charges, charges on services never rendered, improper billing services, end medications never administered, common arithmetic errors among others. In any case, it would be unfair to pay for a bill that is incorrect. Paying much attention on your bills, may absolutely be a greater move on the right direction, towards lowering your medical costs.
Eliminate the mindset that insurance companies are the only ones that can provide a medical cover. It is highly recommendable to look out for different options on how to cater for your medical bills in the future. This will not only give you a wider platform on the most suitable company or best option, but will also enable you make prompt financial arrangements to cater for your treatment at any time.
Unless under severe medical conditions, you should keep off the emergency room and should only make it your final choice. The best move would be to visit an emergency health center or book an appointment with your doctor. Consequently, this will lower some extra cash that you would have otherwise parted with had you visited an emergency room.
Some countries, such as India, Malaysia and Costa Rica, offer specialized treatment at a much lower price; In fact, you are likely to save up to 90 percent of your medical bill in these countries. No matter how extreme this may seem, it is definitely one of the finest ways to have an affordable medical bill.
Internationally sought medical treatment and healthcare is quite common when it comes to specialized surgeries. Often times, the surgery medical billing rates are significantly lower, depending on the surgery. And in many countries, surgeons may specialize in specific areas, such as plastic surgery, cosmetic surgery, reconstructive surgery, or breast augmentation surgery.
Basically, some drug companies may offer to pay part of your initial medical bill in order to gain your loyalty. You should therefore ensure that such opportunities do not bypass you by always carrying out thorough research on any available coupons. You can simply do this by either asking your doctor if he is aware of any coupon available, or by carrying out your own research on the internet.
Always search for providers who are within your insurance company’s network. Otherwise, you may be forced to pay extra payments for premiums and in some cases the insurance company may not be willing to pay for your medical bill.
It is thus essential to ensure that whenever you are searching for the best price out there, you limit yourself within your insurance network to avoid the possibilities of ultimately bearing the entire burden of paying for the medical bills.
This is absolutely one of the preeminent ways to lower your medical bills. Always endeavor to keep yourself away from the hospital by eating healthy, exercising and exploiting the free prevention care often offered by insurance providers.
Essentially, you can be able to dictate your medical bill by following any, if not all, of these seven ways. Absolutely, there would not be any greater feeling than when you are content that you can easily cater for your medical bill anytime and anyplace.continue...
Federally Qualified Health centers (FQHC’s) are vital in America health care system as they provide health care service to all parts of United States. Although FQHC’s are meant to ease the life of every citizen in united state, most of them are faced with revenue billing collection and management challenges which include lack of efficient staffs and inefficient systems. Moreover, most FQHC’s management laws are complicated, which make them difficult to be implemented by most facilities.
It should be noted that for a clinic to meet demands of a community, it is must operate at its peak efficiency. Under the current affordable Care Act, more patients are expected to seek for medical assistant from clinics. Although this will provide an opportunity to generate more income necessary to run the business, it needs more attention to the core objectives of the clinic to provide quality health care to the growing patient population and improve efficiency.
The best way to improve efficiency in the billing, collecting revenue, and managing a healthy revenue cycle is to outsource these functions to FQHC's billing services providers. Currently there are several FQHC billing services available in the market. It is therefore important to know qualities and attributes that define reputable and trusted FQHC's billing services to assist you in obtaining a FQHC's company that effectively address your revenue and management needs.
A professional and experienced FQHC clinic billing company offers talented personals together with highly developed billing software to give the you humble time to focus in providing the best health care to the patients. This support is necessary to reduce the amount of time it takes to serve the patients, while at the same time minimizes errors, which is necessary in maximizing the provide.
A good FQHC’s billing service provider should be able to deliver tools and resources necessary to handle all requirements of clinic billing process and ensure sustainable revenue. They work closely with their clients to ease the burdens that clinics experience in managing the revenue cycles. These make it easier for clinics to focus on their mission of providing quality healthcare to all the citizens. The best FQHC’s should further be in accordance with the governmental laws and capture even the smallest funding to ensure improved revenue cycle performance, which is necessary for clinic survival.
Most Reputable and trusted FQHC's companies have many highly experienced personnel who have worked with patients for a long time and have learned to treat the patient with respects and have established trust and collaboration. Reputable and trusted FQHC's billing services understand clinic’s priorities of providing high quality health care to all patients and ensuring that they feel safe and satisfied. Some of these companies have even designed a revolutionary model that assist FQHC's to achieve consistent revenue while ensuring that patients are satisfied.
Obtaining a specialized FQHC's service provider with many years of reputable experience will not only ensure increase net income and establish consistent monthly cash flow but also enhanced patient satisfaction and eliminate continuous staffing requirements. It will also provide the senior management with all the necessary tools to manage your revenue cycle.continue...
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