Medicare’s Targeted Probe and Educate (TPE) audits are designed to identify and correct billing errors in a more “warm and fuzzy” manner compared to traditional audits. While the process might seem intimidating, understanding the TPE audit’s structure and requirements can help healthcare practices better prepare and respond. This comprehensive guide will break down the TPE […]
Payer agreements are contractual arrangements between healthcare providers and payers, ensuring that providers receive proper reimbursement for the care they provide to patients covered under specific payers. These contracts are essential for several reasons, benefiting providers, payers, and patients alike. Ensuring Timely Reimbursement One of the primary advantages of payer agreements is the assurance of […]
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 […]
In 2021, 60% of healthcare payments were tied to value and quality-based care, while 40% originated from fee-for-service models. These two systems are often viewed as polar opposites in the healthcare industry. While the adoption of value-based care is increasing, fee-for-service remains a significant component of the healthcare payment landscape. It’s crucial to understand both […]
In today’s healthcare landscape, managing the revenue cycle is crucial for the sustainability of any medical organization. The financial health of a practice hinges on effective patient payment collections. If your practice is diligent in sending out statements but faces challenges in collecting payments, it will inevitably affect your bottom line. To ensure the financial […]
According to AARP, nearly 15 percent of all claims get denied, amounting to over 200 million claim rejections each day. However, there are ways to avoid claim rejections and keep your revenue flowing. One common denial that healthcare organizations often struggle with is denial code CO-45. This article aims to provide a comprehensive understanding of […]
Every Physician and Medical Practice strives toward improving the Medical Billing process and achieving better collections. However, end up depleting all their efforts and focusing on patient care and quality treatment, apparently as that is the core of their business. As a result, improvising the medical billing process takes a back seat as it needs […]
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 […]
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 […]
Introduction:Effective medical billing is critical for healthcare providers to optimize revenue generation and ensure financial stability. Implementing best practices in medical billing services can streamline the revenue cycle management process, reducing claim denials, accelerating payment cycles, and improving overall financial performance. Below are eight essential best practices to enhance medical billing services and improve revenue cycle management. […]
