Gain Insight into Industry Related and Company News to Help Grow Your Business
In recent years, healthcare costs have seen a significant shift. Patients have to bear a larger portion of expenses due to higher deductibles and co-insurances. The continuous increase in medical costs has become an ongoing challenge for patients and medical practices. Securing patient commitment to pay their medical bills is
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
What is the medical billing process and why does it matter? The medical billing process is a critical series of steps that ensure healthcare providers are properly reimbursed for their services. From patient registration to claim submission and payment posting, understanding this process helps improve efficiency and minimize denied claims.
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
Are you ready for better billing and stress-free data entry? Managing patient data is time-consuming, especially when working across multiple platforms. It can be tedious to manually transfer documentation from one system to another. CollaborateMD and Practice Fusion offer a bi-directional interface for automatic data integration. This interface provides automated
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.
