Top Healthcare Trends in 2023
Healthcare organizations had to revisit their revenue cycle after the COVID-19 impact as they have to take care of more patients. In addition, the relaxation in the social distancing leads to greater number of patient visits to medical practices. Similarly, labs and...
Billing Guidelines for Pathology Lab Owners – How to Get More Reimbursements
There are various methods followed while billing pathology services. In addition, the methods depend on the agreements between labs and providers. In general, the revenue cycle process of laboratory billing revolves around the interactions between providers, labs, and...
Top 10 Common Medical Billing Issues and Their Solutions
The issue of medical billing is one that impacts each and every one of us who work in the healthcare business. Problems can arise from a variety of sources, including problems with claims and payments, a lack of cooperation from patients, and faults in the software...
What Is Medical Credentialing & Why Is It Important?
To understand “what is medical credentialing”, you need to focus on the process of getting affiliated with insurance payers. In addition, credentialing can be referred to as verification of healthcare providers whether they are qualified to provide care or not....
5 key points for providers to consider before outsourcing services
Being a healthcare provider or a practitioner, you might often find yourself in a place where you’re just wearing too many hats. Managing administration, financing, in-house billing which is a series of tasks in itself, makes practice less focused. This gets...
7+ Healthcare KPIs Vital to Track For Your Medical-Business
The healthcare landscape is constantly changing, and with that comes new challenges for laboratories. One of the biggest challenges is billing and reimbursement, which can be complex and time-consuming. To make things easier, we’ve compiled a list of healthcare KPIs...
How Can You Keep Your Lab Billing System Up With the No Surprise Act?
Surprise medical bills”. This issue has become a hot topic for the last few years. Stories and news of patients left with thousands of dollars of medical costs are quite upsetting for both patients & healthcare providers. Surprise billing occurs when a patient...
How Can CPT Modifiers Make a Huge Difference in Your Profitability_ A Complete Guideline
Lab revenue cycle management_ what comes to your mind after listening to this word? Obviously, all of you will get the meaning of a complicated procedure. That starts with patients scheduling & ends with healthcare providers getting paid for the medical care...
What Are 3 Different Types Of Billing Systems in Healthcare?
A billing system in healthcare is a set of protocols and procedures that make sure that every task involved in revenue collections management is going great. That ultimately results in a streamlined administrative workflow as well as improved billing collections....
Don’t Let Your Revenue Get Clogged_ Stop Making These A/R Management Mistakes
How to minimize the accounts receivable challenges in this digital era? How can you collect more in less time? In the face of economic disruptions, lab practices are facing unprecedented difficulties. It’s time to take an initiative to keep your practice going in...
3 Steps To Develop Business Resilience By Preventing Provider Burnout
Ask providers, have they ever experienced burnout and heard about that before? According to a Medscape survey in 2019, approximately 44% of providers have reported that they have experienced burnout. However, the rate was even higher in the specialty-specific practice...
Appeal Rejected Medical Claims Successfully & Uncover Latent Profits
Denial prevention is important! We are used to hearing these words frequently. As shifting towards claims denial management to prevention can take your profitability to the highest standards and vice versa. But what about the payments that you have lost so far?...
How Do Predictive Data Analytics Help To Tackle Revenue Cycle Challenges?
Are you endeavoring to assure the proficiency and sustainability of your lab practice? How can you leverage predictive analytics to enhance the performance of the revenue cycle? For this, you must have to get familiar with predictive data analytics. With predictive...
Apply These 5 Secret Ways For Managing Prior-Authorization In RCM
Are you facing delays in patient care & inefficient workflows? Prior authorization management is growing heavier day by day due to a huge administrative burden. It has become a cumbersome process filled with manual tasks and roadblocks that dilute the original...
Healthcare Financial Challenges & Significance Of Its Management
What are the critical financial challenges that the healthcare industry is facing nowadays? At this point, the grieving financial situation the industry is going through is unforgettable & was never imagined. No one on this planet can obstruct the disaster from...
4 Tips To Steer Your Lab Through Economic Crisis & Instability
Wake-up call! The ongoing pandemic and the recent healthcare reforms are a clear wake-up call for the medical care providers. Which requires making changes in the existing business models to survive and thrive. Just like other businesses, the healthcare industry is...
5 Definitive Approaches to Skyrocket Your Toxicology Business By Outsourcing
Healthcare business is the most rapidly developing and evolving industry of the modern era. Lab professionals have to ensure excellence in the 360 degrees of their practice to compete with the challenges of the market and make it stand out of the crowd. In an...
Four Reasons Why Customized Billing Can Inspire Your Business Growth
Unfortunately, running a practice means shuffling a million duties, removing ceaselessly valuable time and energy from tending to your patients. Adopting customized medical billing solutions can help you tackle a considerable amount of troubles you might be dealing...
Pro Tips 101: Align Your Toxicology Labs Cash Flow With Toxicology RCM Solutions
When it comes to the financial management of struggling medical facility cash is considered as the key to business success. But there are ways to optimize revenue, toxicology billing services, and performance by taking a more structured approach, i.e outsourcing....
5 Rationales Why Should You Opt For a Molecular Billing Company
Perhaps the main choices you will have when starting a molecular practice is whether to deal with your medical billing in-house or outsourcing it to a professional molecular billing company. While some clinical experts may incline toward an additional active...
4 Approaches For Toxicology Labs To Cut Back on Revenue Leakage
The root cause of unstable profitability in the lab business is revenue leakage. Any bigger or modest holes in the accounting and operational procedures become a hotspot for leakages. It significantly influences the overall practice operations and effectiveness of...
Why Billing Solutions Are Important aspect of value-based care?
The US healthcare authorities have been emphasizing the medical industry to shift their practices towards value-based care models since 2018. Therefore, healthcare providers need sufficient resources to make sure that they deliver quality patient care services. For...
Efficient Lab Billing System_A key to Pursue Your Long-Term Financial Goals
Whether you are running an independent or associated lab, it's not easy to reach the point of financial success. Because it takes a lot of time and effort to achieve and maintain the economic stability of your lab business. Moreover, just because your lab business is...
Can Doctors Perform A Drug Test & Charge Lab Bill Without Consent Of The Patient?
Although, medical lab professionals usually don’t ask for the consent of the patient before carrying out any test. However, they conduct these tests while considering the technical limitations and medical necessity of the test. But when it comes to substance abuse/...
5 Out-of-the-Box Ideas to Strengthen Your Laboratory Practice
It’s a reality that scaling your business is not an easy thing. It takes considerable efforts. In the beginning, healthcare providers have to wear too many hats. They have to interact with patients and manage non-medical obligations such as coding and billing...
How Can You Optimize Lab Revenue Cycle Management & Never Leave A Single Dollar Uncollected?
Have you ever felt so overwhelmed when it comes to managing the paperwork at the time of a patient’s arrival? The bureaucracy and behind-the-scenes mechanisms involved in the lab revenue cycle management system have become much more complex than the previous...
Make Your Clinical Lab Business In Line To The Throne With Efficient Billing Solutions
It requires great expertise and knowledge to handle the business operations of clinical laboratories. If practitioners would acquire efficient clinical lab billing solutions then they can accomplish their goal of revenue generation. With streamlined billing...
How Pathologists Can Increase Their Source Of Income? An Expert’s Point Of View!
It's always been a challenge for medical laboratories to increase their profit margin. Whether it is an independent or associated lab_ the challenges are always there. However, in this article, I have particularly featured those solutions that can help pathologists to...
7 Useful Compliance Guidelines For Laboratories?
Healthcare providers should keep their practices safe from any fraud, abuse, and waste related to revenue collection. Therefore, the US government has introduced compliance policies that can prevent your medical laboratories from any legal suites. Since all healthcare...
