COVID-19 has brought about a global recession. Considering how poorly the world was prepared for the pandemic itself, its safe to say that most people were not prepared for the financial crisis, either. For medical practices this means expenses go up, and revenue goes down as patients struggle to pay. In the absence of an Read more…
Health IT
5 Reasons Advance Care Plans are Better For Patients
End of life discussions with patients can be incredibly difficult for physicians. Some view it as a failure; the care they provided was not enough to save the patient’s life, not considering factor such as the illness, condition or patient age. For others having these discussions is simply too uncomfortable to stomach. These conversations are Read more…
4 Steps to Improve Cashflow at Your Practice
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…
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…
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…
3 Benefits of Automated Payments for Specialty Practices
Collecting payments can be difficult and complex for specialty practices. Receiving timely payments, managing and coordinating all the different types of payments used by patients and communicating with patients effectively are just a few of the challenges specialty providers have to navigate. This leads to cash flow issues and inefficiency in the practice as a Read more…