Power Your Practice

At a private practice, the departure of an experienced medical billing professional can be more than just an inconvenient, unwelcome loss – it can be downright debilitating. A small practice might have only one or two billers on staff. If one quits, management of the revenue cycle can easily get off track, stalling cash flow [...]

Traditionally, receivables are tracked based on 30-day increments – different actions are scheduled depending on whether a receivable is 30 days old, 60 days old, 90 days old, etc. But each payer a medical practice deals with operates on its own schedule. Only a software system that enables the daily aging of your receivables can [...]

Many of us recently updated our billing software to meet the requirements of the HIPAA 5010 standards that took effect this year. If you don’t update your software every year, you may be in for a big surprise. It’s not just the changes — it’s the conversion. First of all, I want to mention that [...]

If you’re consistently getting remittance on your submitted claims, you may think your billing system is working just fine. But how accurate are your reimbursements? The Medical Group Management Association (MGMA) estimates that payers underpay practices in the U.S. by an average of 7%-11%. The main cause of underpayment is the complexity of all the [...]

According the Medical Group Management Association, on average, U.S. medical practices are failing to collect 25% of the money they’re owed for treating patients. That means $125 billion is left on the table every year. The convoluted processes of revenue cycle management and accounts receivable allow too many underpayments, denials and ignored claims to fall [...]

American hospitals, medical practices, government health agencies and insurers spend around $360 billion per year on administrative expenses. That exorbitant amount is made up in large part by the costs of billing-related functions. High administrative costs make it more difficult than ever to sustain a private medical office, yet are commonly written off as a [...]