Denied claims are a common challenge in the healthcare industry, with one-third of all submitted claims being denied or ignored upon initial submission. While this might sound discouraging, it also means that 66% of your claim revenue is still being received. However, the financial impact of denied claims is substantial, with hospitals losing an average […]
Enhancing Accuracy and Efficiency in Pain Management Billing and Coding
Pain management practices are a vital component of modern healthcare, addressing complex patient needs and contributing significantly to the overall quality of life for individuals suffering from chronic pain. However, the success of these practices relies not only on excellent patient care but also on efficient and accurate medical coding. This article delves into the […]
Effective Coding and Billing for Depo Injections
The American Medical Association (AMA) manages the Current Procedural Terminology (CPT) codes, which are pivotal in documenting various medical procedures and services. Within OB/GYN, these codes play a crucial role in accurately billing for antepartum, delivery, and postpartum phases of maternity care. Understanding the Challenges of Delivery Coding Coding for deliveries in OB/GYN presents unique […]
A Quick look at ACOs and CINs
In the face of spiraling healthcare costs and the pressing need for enhanced patient outcomes, Accountable Care Organizations (ACOs) and Clinically Integrated Networks (CINs) have emerged as pivotal models in the transition to value-based care (VBC). These organizations, while sharing a common goal of improving healthcare delivery, embody distinct structures and strategies to manage the […]
Efficient Medical Billing Tips for Small Practices
In the quest to enhance financial performance in medical practices, especially in small settings, the implementation of robust small practice billing strategies is a game-changer. Recognizing the unique challenges independent practitioners face, effective revenue cycle management for independent practitioners is not simply an administrative task; it is critical to the sustainability and growth of their […]
Top 7 Common Medical Coding and Medical Billing Errors
Medical coding and billing are crucial aspects of the healthcare industry, as they determine how healthcare providers are reimbursed for their services. However, errors in medical coding and billing can lead to a lot of problems, including denied claims, delayed payments, and even legal trouble. Some common medical coding and billing errors include: Incorrect codes: Using […]
What Are the 10 Steps in the Medical Billing Process?
The medical billing process is a complex and detailed system that involves numerous steps to ensure that healthcare providers are paid for their services. Here are the 10 main steps in the medical billing process: Patient Registration Insurance Verification Medical Coding Charge Entry Claim Submission Claim Scrubbing Insurance Adjudication Payment Posting Patient Statement Follow-up and Collections Patient […]
Ideas to Improve Your Medical Billing and Collections in 2023
Every physician and medical practice strives toward improving the medical billing process and achieving better collections. However, end up depleting all of their efforts and focusing on patient care and quality treatment, apparently as that is the core of their business. As a result, obliviously improvising the medical billing process takes a back seat as it needs […]
Why do You Need a Medical Billing Company For Your Practice?
In today’s complex healthcare landscape, medical practices can greatly benefit from partnering with a medical billing company. These specialized companies bring expertise in billing and coding, ensuring accurate claim submission and maximum reimbursement. By outsourcing this critical function, practices can streamline administrative processes, reduce costs, and improve revenue cycle management. Medical billing companies also stay […]
Unlocking Financial Success: SVAST Healthcare Technologies Cutting-Edge Approach to Medical Billing Services
Introduction:In the rapidly evolving healthcare industry, SVAST Healthcare Private Limited is at the forefront of providing innovative solutions for efficient and accurate medical billing services. As a leading healthcare organization, SVAST understands the critical role that streamlined financial management plays in the success of healthcare providers. In this article, we will explore how SVAST Healthcare […]