Laboratory medical billing is part of the same overall coding and billing system in use in the various medical fields throughout the US, but laboratory billing services are unique in several different ways. One of the key differences between labs and other types of medical offices is the number of claims processed. Labs typically service…
The core of physician billing services for a medical practice or facility begins with the first contact with the patient and includes every step of dealing with insurers and payers until you receive payment; however, there is more to revenue cycle management (RCM) than that. There are several aspects of RCM that take…
Outsourcing medical billing has proven to be very successful for medical offices and institutions of all sizes. It puts the billing and management of claims in the hands of specialists and keeps the system up to date better than it is generally possible for in-house billers to do—however, choosing the best medical billing…
As if the medical billing codes weren’t challenging enough, insurers are making it harder for medical providers to get paid—but that doesn’t mean your practice has to suffer. It just means that it is more important than ever to have effective medical billing services in place. Access to software that is constantly updated…
The sustainability of any business depends on getting paid for its products or services, and medical labs are no exception. Medical billing is complicated, so it is extremely important to have an efficient process in place to ensure that claims are submitted in a timely manner and none get lost in the shuffle…
It is becoming increasingly more important for medical practices to be proactive in managing accounts receivable (AR). Despite the increasing expenses that providers are faced with, payers continually reduce the amounts they will pay for medical services, so practices of all kinds are operating on leaner margins than they have in the past. Unpaid…
Every practice or medical organization manages its revenue cycle to some degree, but an organized, well-designed approach to revenue cycle management can be the difference between a struggling practice and a thriving one. Revenue Cycle Management (RCM) begins when the patient enters into a relationship with a healthcare organization and continues through the entire process…
Effective revenue cycle management (RCM) is critical to the financial success of a medical organization and outsourcing to experts makes the process both more accurate and efficient. Many people do not realize that RCM is much more than bookkeeping and cost cutting. Everything related to how a practice gets paid, from getting insurance approval when…