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Office visits represent a huge proportion of revenue for most practice types. It’s easy for small errors in coding to become habitual, and the resulting inaccuracy can be costly for your practice. Under-coding can mean lost revenue — multiplied by hundreds or even thousands of visits per year. Accidental over-coding can lead to revenue clawbacks […]
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Office visits represent a huge proportion of revenue for many practice types. Consistently accurate coding of office visits is important to avoid costly under-coding or inadvertently coding above the level that applies, which could lead to revenue take-backs. Since the E/M range constitutes such a huge piece of the overall reimbursement pie, payers are very […]
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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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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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Anyone who encourages me knows they’ll get an earful about front office technology tools — they’ve become a passion of mine.  I’m referring to things like: Patient responsibility payment estimators (e.g., Wellero, Navicure, Zirmed) Check-in tablets and kiosks (e.g., Phreesia) Online patient payment tools like portals and pre-payment sites (e.g., SpendWell) Patient payment apps (e.g., […]
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As you may know already, I’ve been working on a series of papers on Medicare’s chronic care management reimbursement program (CCM) for the Medical Product Guide. (Click on ‘resources’ after visiting the Medical Product Guide link if you’re interested — they’re free.) Talking to practices that have already started working on CCM, along with others that […]
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What’s the worst thing that can happen when you staff aren’t trained to manage patient deductibles and collect up front?  It’s not that you won’t ultimately get paid.  There is something worse that can happen, and it’s not that uncommon: your practice can end up losing the revenue for the service and losing the patient. […]
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The portion of your revenue that must come from patient collections has skyrocketed.  If you haven’t mastered patient collections, you risk losing more of your practice’s earned revenue than ever before.  But — on the plus side — there are more new ways to tackle this problem than ever before. I’ve got a new, free […]
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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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Reminder: I’m presenting a free webinar this Wednesday, June 18 (10AM Pacific, 1PM Eastern) with Kareo, offering tips to maximize the benefit of outsourcing your medical billing .  Whether you’re already using a third party billing service or just considering switching to one, this webinar will provide you with ideas, insights and pitfalls gathered from […]
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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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Will your practice be taking part in this eight-state pilot? Requirements will include EHR, flexible hours, various preventive and individualized care activities. http://www.innovations.cms.gov/initiatives/Comprehensive-Primary-Care-Initiative/index.html  
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The foundation for effective management of the revenue cycle is the practice’s financial polices – so make yours rock-solid!  They need to reflect the practice’s culture and payment philosophy. This becomes more critical with the increase in high deductible insurance plans that place more responsibility on the patient. Here are some key factors in developing effective […]
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