Medical billing services – the process of recording and processing claims for health care services rendered to patients is one of the most important components of a small practice. It is one of the most challenging parts of running a practice because it requires expertise in many areas, […]
Start a Medical Practice without Making these 5 Mistakes
1. Time is of the essence when starting a practice
2. Show Me the Money
3. Hire Slow, Fire Fast
4. The Technology Chase (EHR/PM)…previously known as “The Paper Chase”
5. Medicine is Business
As a medical billing company, We help you in:
- 15% Increase in Your Practice Revenue
- 12% Average Decrease in Denial Rates
- 99.7% Adjusted Collections Rate
- 30 Days Average Days of Account Receivable
Medical billing refers to […]
Medical Billing Outsourcing Success
The healthcare landscape is complex today. Private Practices have many other priorities. They must address issues such as declining reimbursements and Staff shortages. Partnering with medical billing service companies is a great way to create the […]
Svast is highly experienced staff in Brightree Medical billing. Brightree is one of the most widely used systems for DME billing. We provide a full-service DME billing solution on Brightree. […]
- CVS begins a $25 million marketing campaign to promote its health services.
- According to The Wall Street Journal, CVS Health has launched a $25 million marketing campaign to illustrate how its goods and services may help people live healthier lives.
- Ads will air on television, streaming platforms, social media, radio, […]
The flu, which regularly takes hundreds of thousands of Americans to the hospital each year and kills tens of thousands, was not as severe as in previous years, which was a silver lining of the prior two winters. According to Peter Palese, a microbiologist and flu expert at […]
In 2020, most health insurance providers eliminated co-pays, deductibles, and other cost-sharing for COVID-19 patients who were hospitalized, but several large insurers lifted the waivers in early 2021. In the rise of instances that have occurred since early 2021, tens of thousands of Americans have been very ill […]
The FDA’s vaccine advisory group decided on Oct. 26 to recommend that the COVID-19 vaccine from Pfizer be approved for children ages 5 to 11. Within the next several days, the FDA is anticipated to approve the vaccinations for the age range, following the advice of the Vaccines […]
- The most effective way to encourage patient activation is to ensure that they are well-informed about their treatment. Patients who are better informed about their health are more likely to adopt self-management strategies, attend follow-up appointments, and challenge their doctors about their treatment. Education, on the other […]
COVID, as everyone knows, sparked a surge in telehealth usage and shone a spotlight on the future of telehealth for a brief while. Medical care has become more accessible and easy thanks to video consultations and other virtual care services. However, telehealth utilization is presently on the decline. […]
The Biden Administration has issued an interim final rule with a comment period to further implement the No Surprises Act, introducing a dispute resolution process for self-pay patients and the uninsured, through the Departments of Health and Human Services, Labor, and Treasury, and the Office of Personnel Management. […]
In August, preventable COVID-19 hospitalizations cost the US healthcare system $3.7 billion.
- According to a new Kaiser Family Foundation research, the US health system spent about $5.7 billion between June and […]
To outsource or not to outsource medical billing is an important decision for physicians to practice. Below are a few key factors to keep in mind while considering the possibility to outsource medical billing:
You have made a wise choice to outsource medical billing. More than 70% of physician practices see an increased payment and reduced AR if they are able to find the right medical billing company. It can be overwhelming […]
Svast is on of the top Medical billing for practice using Dr. Chrono. Dr. Chrono is one of the widely used EHR systems among healthcare practices. Svast has been successfully providing medical billing services on the Dr. Chorno platform for over 5 years. We provide a full-service billing solution […]
The updates in the 2021 Evaluation and Management guidelines will mean moving the way you think on selecting the appropriate visit codes for your acute visits. In this article, we’ll cover the changes we need to expect and tips to prepare […]
Medical billing for Pediatrics requires taking into consideration that Pediatricians spend approximately 25% more time with their patients as compared to other specialty practices, and oftentimes will provide several complex and more comprehensive services to their patients. The pediatric practices need […]
Svast is highly experienced staff in Brightree Medical billing. Brightree is one of the most widely used systems for DME billing. We provide a full-service DME billing solution on Brightree. Svast will take care of everything from claim submission to A/R follow-up, and our qualified staff will field […]
Svast is #1 in Aprima Medical billing. Aprima is one of the most widely used EHR systems among healthcare practices. Svast has been successfully providing medical billing services on the Aprima platform to several medical practices for over 10 years. We provide a full-service billing solution on Aprima. […]
Todays informed physicians are looking at how technology can make private practices and medical billing more efficient. While there are many options on the market, the top of the list always remains the same; a practice management system vendor supplying a wide range of tools beyond just basic […]
1. CHALLENGE READINESS
Owning your own practice, while challenging at times, is a rewarding and satisfying accomplishment. As a physician, you are no stranger to long days and working hard to achieve what you want. Thomas Edison said it best, “Opportunity is missed by most people because it is […]
Have you thought about expanding your current services or adding a new one? There are many reasons one might consider doing this and they range from, providing a needed service to the community, to economic reasons. If you’re starting to go down this path, the first thing you […]
Are you finding that your practice’s fees are below other similar specialties in your area? On your insurance payments, are you noticing that the carriers are occasionally reimbursing your practice 100% of the billed amount?
If you answered yes to either of the two questions above, it may be […]
Have you considered the benefits of adding a concierge medicine practice to your current business or perhaps switching over entirely?
3 reasons why physicians are considering concierge medicine.
The number of physicians in concierge medicine remains small, but it’s growing rapidly. In 2012 there were 4,400 private […]
Finding the right candidate can be stressful and always comes with a little risk. If you prepare well enough, you can improve your chances of finding that right person that will work well with your practice goals and operations, and fit into the culture of the practice.
How to […]
The transition to ICD-10-CM represents much more than just an increase in codes and field sizes. The scope and complexity of the transition are significant and should not be underestimated. Although the transition will impact many systems, processes and people, let’s focus for a moment on the impact […]
Many projects go live using some of the basic documentation provided with the purchase and very little customization. Customization can be part of the solution but only if the optimization efforts for documentation are carefully approached. Customization is not the Holy Grail, however if done well and with […]
Getting these and other major decision points within an interface implementation right the first time is extremely important as the ramifications will extend far beyond the implementation itself. Between managing large and ever changing lab compendiums as well as dealing with issues identified in the first two bullet […]
In the bustle of EHR implementation to meet compliance with the HITECH Act and Meaningful Use, there are EHR go-lives happening every day in all parts of the country. As EHR implementation experts’ clients are constantly asking, “How did you do this before? What can we learn from […]
Collecting overdue patient balances is a task that few relish and one that often gets thrown onto the infamous “to do” pile. With ever shrinking operating margins in private practices, and patient liable amounts increasing annually, it is crucial that you take steps to capture these payments. The […]
Many practices struggle with the decision of whether to do their billing in-house or outsource medical billing. For some practice managers and physicians, outsourcing the billing can feel scary, like you’re giving up control over a crucial part of your business. However, if you have the right billing partner, […]
Deciding whether or not outsourcing medical billing is the right thing to do for your practice can be a difficult decision. However, it should be as easy as deciding whether or not to perform your own appendectomy. Medical billing has always required a specialized set of skills, and in […]
The move to outsource medical billing can be unnerving, but it is one of the most impactful ways that a small practice can reduce costs and improve efficiency. If you have questions about outsourcing your billing, one of our advisors would be happy to discuss the process and assess whether Svast […]
Patient due amounts (copays and coinsurance) can make up roughly a third (or more) of your practice A/R, but on average only one-third of patient dollars are properly collected upfront. If you see a patient in your practice and they leave without resolving their patient due amount, your […]
When posting payments in a practice management system the need for accuracy is essential. Inaccurate postings can result in serious downstream financial affects for your practice. Though the importance and possible negative ramifications of posting payments inaccurately are seemingly obvious, mistakes can easily occur with a simple typo. […]
All providers who enter the medical field generally do so to meet a common goal, providing good care to their patients. With this goal in mind it is often conflicting to set a price to the care provided. It is even more challenging to make financial decisions that […]
We’ve all seen it. The patient comes to the check-in window, and you ask “Name… date of birth… have there been any changes in your address or insurance?” The patient quickly replies, “Nope”, and takes a seat in the waiting room. The charge is entered and billed to the insurance […]
High deductible health plans and higher copays have driven practices to focus more attention on collecting large outstanding patient balances. For many practices, patient collections account for 20-30% of their overall revenue, so it’s more important than ever that the practice staff be comfortable with and trained on […]
Building intellectual and emotional equity happens while deciding whether or not to start your own medical practice. Once you have decided to go ahead and open a medical practice, get prepared to start building your sweat equity. Sweat equity is your contribution to starting your […]
Own or be Owned: Why Physicians Should Open a Medical Practice in 2021
The Healthcare industry is pushing toward outpatient/ambulatory services. What better time to open a medical practice business providing outpatient/ambulatory services than when that model has been determined to be […]
For some, going to a bank to obtain a medical practice loan may seem daunting but it’s really a straight forward process. These simple points will help you obtain a good loan.
Pediatric Medical Billing Expert
By submitting […]
The time is right to start a medical practice.
Although it may not yet be obvious at scale, we are beginning to see an increase in physicians entering private practice. The last several years have been a period of intense consolidation, with many physician practices […]
There are things to consider when bringing on a mid-level provider, first be clear on what you are trying to achieve. Is it increased revenue, better life style, or more face time with patients? With some planning each of the above can be accomplished.
The “Spirit of the Entrepreneur” is innate and constant. It is not a characteristic that one can learn, develop and strengthen over time. It is not dynamic and therefore doesn’t change. You either possess it or you don’t. Sarah Pierce, in “Entrepreneur”, described it most aptly.