Gain Insight into Industry Related and Company News to Help Grow Your Business
In recent years, healthcare costs have seen a significant shift, with patients having to bear a larger portion of expenses through higher deductibles and co-insurances. The continuous increase in medical costs has become an ongoing challenge for patients and medical practices to improve patient collections. Securing patient commitment to pay
Surprises can be great for birthdays, but they’re awful when it comes to healthcare. Unexpected bills, where a patient is charged more than what they were prepared to pay, are a leading cause of medical debt for consumers. And yet they are terribly common—every year, the USA sees an estimated
Incorrect medical billing and coding can lead to a number of serious issues for medical billing companies, from lost revenue to penalties from government agencies. Repeated errors can also cost your medical billing company clients. And yet it’s estimated that 80% of US medical bills contain errors. If you’re part
If you’re a medical professional who runs their own practice, you know how essential it is to get paid promptly for the services you provide. But typical billing cycles last a month or more, as charges are routed through insurance agencies and can take weeks to arrive with the patient
The medical billing process is how a healthcare provider receives payment for the services they provide. Aside from actually rendering care, it is the most important part of keeping your practice alive and well. This guide will provide you with a detailed look at the many steps involved in the
This is a transformative time for healthcare, with virtual care and other technology quickly on the rise. Medical billing statistics and data point to several new trends in the healthcare space, including the rapid adoption of healthcare billing technology and a shift to virtual payment options. We’ve collected some surprising
We’re beyond thrilled that our new bi-directional interface with Practice Fusion is here! This new integration will save countless hours of duplicate date entry for those who use both CollaborateMD and Practice Fusion, as information can now flow freely between the two platforms. This is a true innovation for saving
Physical therapists, like any healthcare provider, generally don’t get into the profession because they like working with numbers. But no practice is going to succeed without a good understanding of the complex medical billing system. Like other medical billing processes, physical therapy billing relies on matching services rendered with standardized
The most important part of any healthcare practice is helping patients. The second most important part is getting paid. Offering electronic patient statements is a great way to both make your patients happier and get paid faster, and—best of all—electronic patient statements are easy for your office to implement. An
Here’s a simple truth: the faster you can get your customers paid, the more popular your medical billing company will be. Now here’s another one: no matter how effective your team is, you will only ever be as efficient as your software allows to grow your medical billing company.
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