Differences Between Medical Billing Software & Practice Management Software
Healthcare practices of every scale rely on setting firm financial goals to continue to grow and serve their patients. For some, this involves maximizing efficiency while for others it's about streamlining the claims processing to prevent potential losses. Most thriving practices strive to communicate with their patients. Making sure to notify them well in advance about their bills, schedule appointments, and acquire pre-approval for potentially expensive specialty services. There are even some practices that prefer to outsource administrative functions [...]
Differences Between Behavioral Medical Billing VS Conventional Medical Billing
Behavioral medical billing can be frustrating at times, as it tends to take up a significant amount of time, and its arcane nature can sometimes get in the way of the time you would otherwise spend treating or recruiting new patients. At the same time, a lot of insurance carriers are also prone to using incongruities in the mental health industry to deny certain claims or submit a reduced underpayment. Whereas conventional billing practices are strictly codified. Many of [...]
What is CPT Code 97151 for ABA Therapy?
After August 1st, 2021 all authorizations requested on or CPT code 97151, for assessment and treatment plan development, need to be authorized for up to 32 units. This translates into a total of 8 hours for an initial assessment, which is broken down into 24 units, comprising up to 6 hours for all subsequent authorization periods. Though it’s also worth noting that CPT code 97151 still needs to be conducted over 14 calendar days or less. This means that [...]
What Is A Medical Billing Fee Schedule?
Fee schedules play an important role in the realm of medical billing practices. Inefficient or ineffective fee schedule practices can lead to claim rejections, claim denials, and other delays that might interrupt an otherwise consistent revenue stream. The Centers for Medicare and Medicaid Services (CMS) sponsors a comprehensive list of charges for health care services on a fee-for-service basis. These fee schedules play a critical role in making sure that practitioners providing care are reimbursed for the treatments they [...]
What Is A Medical Billing Clearing House?
There are many important facets to the medical billing process. One of the most important steps includes the use of a medical billing clearing house. Though not everyone is fully clear about what a medical billing clearing house is, why it’s important and how to choose the best medical billing clearing house to meet your practice’s needs? What Does A Medical Billing Clearing House Do? A Medical billing clearing house essentially acts as a middle man helping to connect [...]
What Is Payment Posting In RCM For Medical Billing?
Patient responsibility costs and other out of pocket costs continue to rise throughout the United States. This can sometimes lead to delays in payment or failure to pay for services rendered. A patient who pays their co-pay, co-insurance costs, prescriptions, and other out of pocket costs in a timely manner, make it easier to close a claim cycle at payment posting. Also known as “Cash Posting” Payment posting is typically done in one of two ways. The one that [...]
Which Is Better Outsourcing Or In-House Medical Billing?
Medical billing plays a critical role in the success of any medical practice. Medical coding errors, problems with data collection, discrepancies, inefficient analytics, and inconsistent audits in the medical billing process can have significant repercussions in the revenue stream. Claim denials, claim rejections, and delays can also cause an inconsistent revenue stream, which can hamper the growth of your practice. Many solo practitioners and small practices choose to either hire an in-house administrative staff or outsource their medical billing [...]
Benefits Of Outsourcing Medical Billing Services
Small practices and solo practitioners of all specialties are faced with the challenge of having to wear a lot of different hats throughout the course of any given week. This includes critical things like providing patient care, developing treatment plans, scheduling, and maintaining other important administrative chores. Among the most important of all administrative tasks is effective and efficient medical billing practices. Unfortunately, for a lot of small practices things like medical coding, claim creation, and payment remittance are [...]
