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 acknowledges the importance of revenue cycle management in healthcare to some degree. However, an organized, well-designed approach to healthcare 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….

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…

A medical practice has two major types of accounts receivable: reimbursement from insurers or government payers and the part of a charge that the patient is responsible for. Collecting payment from each of these two involves a completely different process, but a medical billing company will take care of both of them. Medical revenue cycle…

  Regardless of the industry, business success clearly depends on getting paid for goods and services provided. In the healthcare sector, revenue cycle management (RCM) is more elaborate and complicated than it is in any other field. In its most simplified form, medical RCM begins when the patient contacts a provider to make an appointment….

  Medical billing has become a huge issue for many medical practitioners, ranging from individual private practices to extensive regional hospital systems. Physicians are even moving into early retirement because the additional stress and paperwork involved are taking the joy out of their jobs. Outsourcing medical billing to an organization that does not practice medicine,…

As if doctor bills and insurance companies weren’t difficult enough to understand, hospital billing takes the madness to a whole new level. Patients are often shocked by how high the figures are on their bills, and they can only hope their insurance will cover it. Registration and Establishing Patient Financial Responsibility When you make an…

Revenue Cycle Management is a process that is employed in the US healthcare system. In the United States, the revenue from patients is tracked from their first encounter with a medical facility to avail any form of medical service or product to their most recent payment of balance. The cycle can be defined as, “all…

Medical billing acts as the bridge between a healthcare provider and the insurance company. The number one problem that healthcare clinics and other medical facilities face, is collecting money from patients in the form of insurance claims. Problems mount when healthcare providers try to handle both their healthcare practice and the financial burden of the healthcare…