Category: Blogs

Revenue leakage in healthcare refers to unwarranted or unrequested outflows of money as a result of fraud, overbilling, incorrect coding, or other errors. Slowly but surely, it eats away at profits like water running down a leaky faucet. Not identifying and addressing the problem of revenue leakage as soon as possible can lead to significant… Continue reading How To Reduce Revenue Leakage In Your Medical Practice

Medical billing is a complex process — it requires an understanding of insurance plans, coding & reimbursement regulations, and correctly filling out & submitting claims to ensure timely payments. The process is similar to an accountant filing taxes, where the paperwork must be precise in order for the process to be successful, but the outcome—getting… Continue reading What Is Meant By Retro Authorization In Medical Billing?

Overpayment in medical billing is when patients or insurance companies pay more than they are entitled to the healthcare providers for the services rendered. On the other hand, an underpayment in medical billing is defined as receiving a lower amount than the value of a claim to be settled. Both can result in a poor… Continue reading Difference Between Overpayment and Underpayment In Medical Billing

Patient eligibility verification is one of the first steps in the medical billing process that needs to be done right to get paid on time. Patient eligibility verification involves identifying and verifying patients’ coverage details, copayments, deductibles, and more. Healthcare practices must keep up with the latest trends and technologies to verify patient eligibility and… Continue reading How to Improve the Patient Eligibility Verification Process?

Medical billing and coding are intricate and complex. Entering the wrong diagnostic code may end up in overbilling the patients and your practice may face serious troubles. Often, common medical billing errors such as upcoding may be a result of an oversight error rather than an intentional mistake. Yet, the consequences can tarnish your practice’s… Continue reading Everything to Know About Upcoding In Medical Billing

Credentialing is one of the most crucial processes when it comes to the healthcare industry. The process is in place to regulate and streamline healthcare professionals’ credentials, such as licenses and registrations. The significance of medical credentialing arises from the potential impact on patient safety and the legal repercussions for employers, healthcare facilities, and other… Continue reading Tips for a Successful Medical Credentialing Process

Revenue cycle management in healthcare practices is challenging to handle owing to the complex steps involved in the process. It includes verifying patient eligibility, medical coding, claim tracking, denial management, payment posting, etc to drive revenue on time for the healthcare services offered. Any issues in the healthcare RCM process can lead to revenue loss,… Continue reading 5 Most Common Challenges In Healthcare RCM

Medical credentialing ensures only qualified healthcare providers are delivering healthcare services to patients and meeting the standards of quality of care. This protects the safety of patients as medical credentialing assures that only providers with the expertise and skills to perform certain procedures are allowed to practice on patients. In the medical credentialing process, the… Continue reading Importance of Medical Credentialing for Healthcare Providers

Payment posting is a crucial step to streamline revenue cycle management in medical billing. It provides significant insights into the entire revenue cycle and an overview of the financial health of healthcare organizations. Attention to detail in payment posting is very crucial as even a small mistake can lead to an incorrect financial picture analysis.… Continue reading What Are Payment Posting Services in Medical RCM?

Medical billing procedures and coding systems present complex complications for proper management and consolidation. A single minor billing mistake has the power to trigger claim rejections which can result in legal costs and reduced patient care while leading to lost revenue. Your practice reimbursement will increase when you understand medical billing procedures and implement new… Continue reading 5 Common Medical Billing Errors and How to Avoid Them