The Revenue Cycle Blog
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Medical Billing Wholesalers is excited to announce our official certification as a Great Place to Work. Join us in celebrating this achievement as we continue to prioritize our team's happiness and well-being.
Navigating 2024's Strategies for DME Success with Modifiers and Durable Medical Equipment. Achieve mastery in billing accuracy and revenue optimization. Streamline operations with expert guidance. Contact us today to unlock your practice's full potential.
Explore the latest RCM trends shaping healthcare in 2024 with Medical Billing Wholesalers. From AI automation to telemedicine, stay ahead in reimbursement and patient care.
Dive into the intricacies of new patient CPT codes with our comprehensive guide. From decoding coding guidelines to optimizing revenue cycles, gain the expertise needed to navigate medical billing with confidence.
Discover how Clinical Documentation Improvement (CDI) revolutionizes healthcare data management, enhancing patient care, data integrity, and financial outcomes. Unleash the potential of CDI to optimize your healthcare organization's data and drive better outcomes.
Most companies struggle with the emotional outsourcing decision that changes the status quo. When you eventually make the outsourcing decision, you must tread with caution. You rely on your partner to deliver the financial and clinical outcomes you value the most.
Discover how the Front-End Revenue Cycle serves as the cornerstone of financial success and an improved patient experience in healthcare. Learn about trends and strategies for optimizing patient registration, scheduling, and insurance processes.
DRG-based reimbursement (Diagnosis-Related Group), plays a pivotal role in determining the payment healthcare facilities receive for treating Medicare patients. While the primary diagnosis code identifies the main reason for hospitalization, the significance of secondary DX codes in the DRG-based reimbursement process cannot be overstated.
The Florida Legislature recently amended the Florida Electronic Health Records Exchange Act to prohibit certain healthcare providers utilizing certified electronic health record technologies from storing qualified electronic health records outside of the United States, its territories, or Canada.
DME billing involves submitting and processing claims for durable medical equipment, and outsourcing DME billing services can help healthcare professionals streamline the process, minimize denials, and ensure accurate reimbursement.
ABA (Applied Behavior Analysis) therapy billing refers to the process of submitting insurance claims for reimbursement of ABA therapy services provided to clients. ABA therapy billing is a complex process that requires a high level of attention to detail and a deep understanding of insurance and reimbursement policies.
Discover effective strategies for revenue cycle optimization in your medical billing company. Learn how to improve operational efficiencies and profitability with insights from Medical Billing Wholesalers' blog.
With headwinds of cost increases, reducing reimbursement rates, and declining patient visits, Physician practices must refocus on operational efficiencies to achieve profits sustainably. Revenue cycle KPIs are essential in measuring your Practice's performance and guide on improving.
The offshore-onshore relay race refers to the collaboration between the onshore operations of your medical billing company or in-house RCM team and offshore providers of revenue cycle services across processes such as medical billing, medical coding, patient access, accounts receivable, and denial management.
Process rigor is essential in revenue cycle transformation because it helps ensure the accuracy, consistency, and efficiency of the revenue cycle processes. A lack of process rigor can result in errors, duplications, and delays that can negatively impact the financial performance of an organization.
An efficient and effective physician credentialing process can help ensure compliance, quality of care, and financial stability while supporting the overall success of the revenue cycle in the healthcare organization.
In healthcare, the labor shortage is not limited to clinical roles but extends across administrative functions. If you look at the revenue cycle, lack of timely filing and follow-ups can increase denials and result in delayed cashflows. In this blog, we look at some of the strategies revenue cycles CFOs are deploying.
For hospitals, healthcare systems, and even mid to large physician practices, 2022 was the worst financial year in decades. Healthcare providers already reeling under the impact of the long period of adversity due to COVID-19 were further impacted by inflationary impact and increasing cost of healthcare supplies. Protecting the revenue and doing more with fewer resources are the central themes on the minds of RCM leaders. The impact of the great resignation has left them short of both administrative and clinical workforce.
2023 promises to be a super-charged year with an increasing pace of consolidation, innovation, and adoption of new ways of doing work. We discuss some of the trends impacting healthcare and the revenue cycle.
The rising costs of caring, economic uncertainty, the impact of the great resignation, the consequent labor shortages, and the multi-year delay in investing in technology and processes to re-engineer the financial process have created a perfect storm. Worsening the condition is the demand for medical care slowly shifting from hospitals to ambulatory care settings.
Here’s a list of top considerations for choosing the right revenue cycle technology for your organization:
Healthcare administrative talent will be in short supply for many years, and medical billing and coding offer lucrative career options. This blog discusses the importance of medical coding, the career opportunities it provides, and how medical coding will play a critical role in defining the quality of care.
In this edition of the NSCHBC Edge Podcast, Terry Fletcher invites NSHCBC members Vinod Sankaran and Misty Haralson for an RCM Round table discussion.
Hear fellow healthcare consultants in the RCM space discuss physician and dental practice pain points and how to be efficient in your Revenue Cycle Management efforts.
Staffing shortages affect employee morale, delay patient care, and cause clinician burnout. With the rising inflation, care cost is also increasing significantly. Click here to learn more.
Claim denials, a chief cause of revenue loss to healthcare practices, are rising across payer types. A primary source of denials is on account of coding-related denials. A comprehensive and focused denial management and appeals strategy will help reduce this revenue loss.
With rising consumerism, patients have increasing responsibility for payments. The growth of high deductible health plans (HDHPs) is a clear indicator of this trend. It is important to clearly understand the patient's responsibility for payments upfront and determine coverage. Click here to read the entire article.
On 17th May 2022, Medical Billing Wholesalers was awarded the Platinum award for the Best Rewards and recognition program. Babitha Margaret, our head of HR, received the award at the exclusive HR Distinction Award in New Delhi.
Healthcare providers must focus on delivering high-quality care while the revenue cycle team manages the reimbursements. Outsourcing accounts receivable and denial management processes to a seasoned outsourced revenue cycle services provider can minimize revenue loss and improve financial outcomes. Click here to view some of the strategies to minimize revenue loss.
A revenue cycle CFO faces multiple challenges - Declining reimbursements, the need to find money to make investments in technology and automation, and the massive shortage of qualified revenue cycle labor.
Accounts Receivable (A/R) status has moved from calls to portals. We see increasing relevance for chatbots using conversational artificial intelligence (AI) in A/R and denial management filing. Click here to read more.
The Healthcare Business Management Association (HBMA) healthcare innovation workshop was held on March 20, 2022, in New Orleans. This year's theme was "Increasing Efficiency in Revenue Cycle Management through innovation. Our CEO, Vinod Sankaran, addressed healthcare industry leaders and revenue cycle experts on "Automation/Changes in Revenue Cycle 2022 & Beyond".