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It doesn’t take much digging to find that most revenue leakage doesn’t happen in the laboratory itself; it happens in the billing office and affects labs of all sizes and specialties. From the sheer volume of tests processed daily to the diverse and ever-changing rules set by payers, the financial
A laboratory’s billing cycle seems straightforward. A physician orders a lab test, the lab provides the services, and the insurance company provides compensation for the time, labor, and materials used. Unfortunately, this isn’t exactly a straightforward process. It can take anywhere from several days to several months to complete, and
Laboratory billing plays a crucial role in the healthcare revenue cycle, having a significant impact on a laboratory’s financial health and day-to-day operations. But too often, people see it as just another routine billing process, missing how important and complex it truly is. Yes, it involves submitting claims to insurance
Healthcare providers need critical patient information—current medications, allergies, previous surgeries, chronic conditions—to deliver safe and coordinated care. The ability of electronic health records (EHRs) to seamlessly exchange this information, known as interoperability, directly addresses the limitations of paper records and siloed data. But more importantly, it also allows providers a
Effective claim denial management in your practice is essential for maintaining a healthy revenue cycle. When done right, it minimizes revenue loss, reduces administrative burdens, and accelerates reimbursements. This article explores the fundamentals of medical claims denial management, common pitfalls, proven strategies, and how leveraging technology can transform your approach—all
Anesthesia billing is notoriously complex. From accurately tracking time units and navigating intricate modifier rules to mastering the nuances of CPT coding, this specialty demands precision and expertise. Generic medical billing software simply doesn’t cut it. Without the right tools, your anesthesia practice risks claim denials, lost revenue, and increased
After a long day of treating patients, the last thing you want to worry about is the mountain of paperwork and headaches involved in billing insurance companies. From registering patients and coding services to submitting claims and managing payments, it’s an exhausting multi-step process. That’s where a clearinghouse becomes invaluable.
Navigating the complexities of Medicare billing can feel overwhelming, but understanding and adhering to Medicare billing guidelines is critical for the financial health and legal standing of your healthcare practice. Why? Ignoring Medicare billing compliance isn’t just procedural oversight—it can lead to audits, penalties, and even accusations of fraud. Here,
Technology is supposed to make your job easier. But does it? The truth is, you’re probably underestimating the true cost of outdated and non-cloud-based billing solutions. These costs can add up quickly, negatively impacting your bottom line and stalling business growth. But there are leading software solutions that eliminate these
Once your practice reaches a certain size, juggling daily tasks like scheduling appointments, verifying insurance, managing patient communication, and ensuring accurate billing can become frustratingly complex and slow down operations. This increases the risk of manual errors and ultimately takes time away from delivering high-quality patient care. At the same
