Revenue cycle management is a complex process that seems to have become even more complex these days due to the challenging pandemic situation. In short, the revenue cycle management process consists of collecting patient information, treating them appropriately, submitting claims to insurance companies for getting timely reimbursements and collecting the remaining dues from patients, if […]
What Is a Medical Claim and Its Importance?
A medical claim is a piece of document or a bill that healthcare providers submit to the insurance provider of a patient. This medical claim contains comprehensive data regarding the care and services provided to the patient in the form of unique medical codes. Such a medical claim generated by medical billing professionals serves as […]
Understanding Few Medical Billing Terms
Health insurance, a product covering a person’s medical expenses, has become a necessity with mounting medical expenses that are too high to pay out of pocket. It has been observed that medical bills have become a major cause of consumer debt and associated financial problems for many people. Depending on an individual’s needs, one can […]
Prevent Medical Billing Errors to Maintain Healthy Patient-Provider Relationship
A healthcare facility’s growth depends on the healthy patient-provider relationship that is dependent on the quality of services the facility provided to the patients. Healthcare facilities work hard in every department right from the physicians to the support staff to ensure that the patients have a positive experience with the facility and get great patient […]
Ways to Take Control of Medical Accounts Receivables
One common thing that bothers healthcare providers is poor accounts receivables management and the unacceptable cash flows resulting thereby. Healthcare providers can focus on providing quality healthcare only when they have proper revenues and problems in accounts receivables result in loss of revenue. The revenue cycle management of a healthcare provider involves achieving the shortest […]
Dealing with Pre-Authorization in Medical Industry
Among the many frustrating and time-consuming processes, physicians are required to complete as part of their job is to deal with the pre-authorization. Getting pre-authorization for procedures to be performed is expensive in terms of time and productivity as it takes a considerable amount of time in getting it from the payers. Receiving pre-authorization for […]
Importance of Medical Coding and Billing in the Healthcare Industry -Avontix
Medical coding and medical billing are two of the most vital segments of the healthcare system in the USA. To maintain patient safety, quick payments for treatments provided and effective operations of a healthcare facility, both of medical coding and medical billing are needed. These two require professionals who are skilled at reading, understanding, recording […]
Challenges in Medical Billing Industry -Avontix
The healthcare industry is a unique business that is different from other businesses as it deals with not a single transaction but a procedure starting from the appointment of a patient with the physician and ending with the patient’s account closure. Managing a healthcare facility is a tremendous task which includes vital matters like insurance […]