Gain Insight into Industry Related and Company News to Help Grow Your Business
Patients are the lifeblood of your medical practice, and your team works hard to keep them healthy and happy. In exchange for top-notch medical experiences, your patients keep supporting your practice and pay their bills on time. It’s the textbook definition of a mutually beneficial relationship. That said, retaining patients
Patients today increasingly expect healthcare experiences that are both seamless and personalized. Unfortunately, this is much easier said than done for many practices that are still doing things the way they’ve been done for years. After all, medical providers and staff at these slower-to-modernize practices spend a lot of time
As a result of the pandemic, the U.S. healthcare sector is facing a massive clinical and administrative staffing shortage. Despite gaining about 50,000 jobs since January, the industry still needs to fill more than 500,000 additional positions to get back to pre-pandemic levels. Chances are your facility is experiencing the
According to a 2020 report, more than one-third of U.S. healthcare costs are eaten up by administrative tasks. For example, healthcare providers spend nearly $500 billion on billing– and insurance-related costs each year. When medical billing companies are bogged down with inefficient processes, the revenue cycle stretches out and billing
In recent years, healthcare practices across the country have accelerated their digital transformation efforts to modernize their operations, bake more efficiency into their workflows and processes, and deliver stronger patient experiences. While this digital evolution is a good and necessary thing, it also exposes practices to some significant challenges. Chief
Healthcare professionals spend years mastering their medical skills to improve patient lives, but rarely does that training include a deep dive into billing, claims, or collections. Yet these administrative tasks can have a huge impact on a practice’s financial health. When claims are filled out incorrectly or contain missing or
Today hard-working providers, nurses, and staff are moving a million miles a minute to juggle a seemingly endless number of tasks to ensure optimal patient experiences. CollaborateMD can help get more done with time-saving healthcare technology. With the constant shifting and extreme demands for elevated patient engagement, it comes as
Even the most organized healthcare organizations can still fall victim to the most common medical billing mistakes in the industry. Providers who have in-house billing services know the administrative burden that comes with it. Whether your practice is experiencing a high level of denials, struggling to submit clean claims, or
Patient volume took a hit at the beginning of 2020 as the pandemic changed how healthcare organizations had to function. Traditional in-person care processes like full waiting rooms and elevators had to shift and move digital. As providers adopted quality technology, they learned that there might be a different way
Improving medical practice cash flow is easier than you may think. Healthcare revenue is impacted by a myriad of factors from insurance verification to denial management. If your billing department is struggling to keep up, it might be time for a change. To increase revenue, you need to first analyze
