It’s a fact of medical practice management life that unilateral decisions by other organizations can show up out of the blue and negatively affect the practice business, such as when a payer changes reimbursement terms or stops paying for a code that was previously reimbursed. In situations like these, practices have no obvious short-term option […]
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Capko & Morgan has had the honor of collaborating with the MedData Group on several recent MedData Point surveys. This month, we worked together on one of our favorite subjects: billing and collections. The results may reflect some subtle but interesting changes to recent trends. For the past few years, it has seemed that the […]
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A recent Peterson-Kaiser Health System Tracker study revealed an interesting finding: average copayments are declining. Their study, which analyzed claims data from Truven MarketScan, found that average copay amounts paid by patients decreased by 26% from 2004 to 2014. Seems like a positive trend for patients and practices … except that it’s not. It’s part […]
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Ahhh, January. We’re already six days in, and it’s still hard to believe we’re a week into a brand new year.  Perhaps especially so if low volume has you moving through your days more slowly — and worrying about what your revenue numbers will be at month- and quarter-end. The January effect on medical practices […]
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It’s almost that time again: deductibles re-set in less than a month. Got your game face on? For many practices, the end of the year is so busy, it’s hard to think about planning for slow business in January, February and March.  Ironically, the cause of the busyness in Q4 is related to the cause […]
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Outsourcing your medical billing to a billing service has the power to make your practice much easier to manage.  It can also increase your profitability. But as the world of reimbursement continues to evolve, it’s important to stay involved with the process.  If you’ve adopted a “that’s off my plate now” approach to using a […]
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I’ll be presenting a free webinar on Thursday, July 16, with tips and strategies for managing your medical billing service. If you’re thinking of outsourcing your billing, or if you already outsource it and aren’t sure you’re getting everything you hoped for from the relationship, this webinar is for you. This is part two of […]
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If you’ve been thinking about outsourcing your medical billing — or switching medical billing services — my upcoming 30-minute webinar can help. “Eight Questions to Ask When Evaluating Medical Billing Services” will be presented on June 25 at 10AM Pacific/1PM Eastern. If you’ve been wondering how to quiz your billing service options — or just […]
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There’s still time to sign up for my webinar “Patient Financial Responsibility: Tackling Your Practice’s Biggest Profitability Problem.”  It’s Tuesday, 6/9, at 10AM Pacific/1PM Eastern — and it’s free, thanks to our sponsors at Spendwell Health and Wellero. There will be time for questions, and the webinar will also be recorded, so you’ll have the […]
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As we’ve posted here before, almost all practices face the risk of a cash flow crunch in January and, really, through all of Q1, thanks to the deductible reset.  (January’s revenue collections are sometimes also hit lower volume in December because of the holidays — a double whammy.) In our experience, the decline in revenue […]
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The deductible reset is looming in January, and it’s poised to wreak its usual havoc with cash flow. Cash-flow impact could easily be even worse this year, given that deductibles have likely increased and become more of a problem for many of your patients. Naturally, alerting patients to the possibility that they will be responsible […]
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If you’re considering working with an outside medical billing service — or are working with one now — my free webinar next week with Kareo can help you get the very most from outsourcing.  Using a third party medical billing service can be a great way to improve cash flow and collections, and minimize hassles […]
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Mary Pat Whaley at Manage My Practice has posted great information about payers ‘encouraging’ practices to accept payment by virtual credit card, instead of by check or EFT. This method of payment is not a good deal for practices.  Merchant fees are deducted from credit card payments — meaning a further reduction in the reimbursement […]
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Laurie Morgan’s just-published ebook — Get the Best From Your Medical Billing Service (Management Rx) — will be available free on Amazon.com starting today! This one-time promotion runs from October 25 – October 29. This detailed, 15-page guide is the easy way to get up to speed on selecting and managing a billing service. You’ll […]
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Laurie Morgan’s just-published ebook — Get the Best From Your Medical Billing Service (Management Rx) — will be available *free* on Amazon.com from October 25 – October 29. If you’re using or considering using a medical billing service, this detailed, 15-page guide is for you.  Learn tips for screening services, managing the relationship, and evaluating […]
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The AMA’s National Health Insurer Report Card for 2013 provided powerful reinforcement for the need for physician practices to master time-of-service collections: average patient responsibility is now topping 20% for all but one payer evaluated in the survey, and some were approaching 30%.  Even Medicare is requiring patients to contribute about 25% of the cost of […]
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Hiring an external billing service can be a huge source of relief, especially for smaller practices that worry they won’t be able to keep up with staff training needs on technology and coding (e.g., ICD-10).  But, too many practices we work with tend to “forget about” billing once they have hired a service — thinking […]
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When is the last time you analyzed your practice’s payers?  Too often, physicians and practice managers feel powerless against health plans — and don’t even question whether to continue to accept a particular plan.  Yet, even if your practice is located in a market in which you’ve found it increasingly difficult to negotiate higher reimbursement, that doesn’t mean […]
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What if hotel billing were like medical billing? A funny-but-sad video by Costs of Care in partnership with Harvard Medical School and the University of Chicago explores the possibility in a tongue-in-cheek way (click “continue reading” to view the video). “Surprise” medical costs do more than just frustrate patients — they hurt practices, too.  By […]
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Did you know that 30% of  the insurance claims submitted for payment of  medical services in the United States are denied and of that amount 15% are  never resubmitted?  According to Medicare, 40% of their claims denials are never resubmitted. These are daunting statistics. Experts state that 70-80% of appealed claims are eventually paid – That’s a […]
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Are you taking a hit on revenue?If you are not analyzing your reimbursement from different payer source and don’t have a clear understanding of what it cost to see a patient you may be taking a hit that you can’t afford. Start with understanding the basic cost for you to see a patient. Take your […]
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