The healthcare industry was hit hard by the COVID-19 pandemic. With fewer patient visits, revenues fell to historically low levels, and now, with the pandemic continuing, providers are still struggling to improve cashflows and collections. With healthcare reimbursements evolving, providers must adjust and focus on doing what they can to increase payments and reduce A/R Read more…
3 Reasons your Mental Health Practice is Struggling to Collect Patient Payments
The healthcare industry is locked in a never-ending struggle with collecting payments. The burden placed on patients is growing, with rising insurance deductibles and premiums increasing the difficulty faced by patients to actually make their payments. According to a recent report by the Kaiser Family Foundation, nearly half of all insured adults in the US Read more…
Three Ways to Ace the MIPS Quality Category
The MIPS Quality category makes up 30 points of a clinician’s total MIPS score. Quality is reported for the whole year, and a clinician must report a minimum of six Quality measures to meet MIPS reporting requirements. Data completeness remains at 70%. A high Quality score is vital for avoiding the negative penalty deductions, with Read more…
How Value Based Care Increase the Care Quality
Value-based healthcare is a care delivery model where providers are paid based on patient health outcomes. It is designed to improve the quality of care patients receive by incentivizing providers to do focus on delivering high-quality care rather than serving the highest possible quantity of patients. This is achieved by making a few changes to Read more…
7 Tips for Young Physicians with Student Loan Debt
Medicine is not an easy field to get into. Medical school is tough, and the student loan debt accrued through attending can be an even greater challenge to overcome. For young physicians, at the start of their careers, the going can be tough. The pay isn’t always great for fresh graduates and the looming specter Read more…
6 Areas to Work on to Reduce Physician Burnout
Physician burnout has been a growing problem in the healthcare industry for some time now. While the COVID-19 pandemic did exacerbate the issue, burnout among physicians had been growing even in the years before. The growing realization of this problem and the increased enthusiasm for finding solutions at a systemic level is encouraging, there is Read more…
3 Billing Codes Every Physician Should Know
Physicians and practice managers are always on the lookout for ways to increase revenue. One of the ways practices miss out on revenue is by not always billing for services that have been provided. Coding mistakes are common, be it from a lack of understanding of when certain codes should be used, or due to Read more…
Important Marketing KPIs for your Practice
Most providers are, understandably, not experts when it comes to marketing. Not much use for marketing study in medical school. It is also likely that very few have an MBA in addition to their MDs. However, once running a practice, there are a few marketing metrics that it is beneficial to know about; these can Read more…
4 Benefits of Online Patient Payments for Your Practice
In this modern digital age, customers are accustomed to paying their bills online. Utilities, credit card bills, internet, etc. can all be paid online through apps or a web page. This begs the question: why should healthcare payments be any different? Surveys have shown that nearly 70% of respondents would prefer paying their medical bills Read more…
Using Telehealth to Engage Senior Patients
Senior patients have, by and large, embraced telehealth. Surveys have found that over 60% of Medicare eligible seniors enthusiastically took to telehealth during the pandemic, and that senior usage of telehealth services increased by 300% over the course of the pandemic. Telehealth has, in many ways, already gotten senior patients more engaged in their healthcare; Read more…