The Questions You Need to Ask Medical Billing Companies
The healthcare industry’s billing laws and reimbursement policies are ever-changing. Being ignorant or ill-informed about these laws could cost your healthcare practice millions of dollars and ultimately cost you your job. In order to receive the right amount of reimbursement, you must learn how to ask the right questions. They won’t give you any leeway.... Read More →
Are You Effectively Tracking Your Medical Referrals?
To say being a doctor is a fast-moving profession is selling it a little short. After the multitude of things on your diary, it can be difficult to keep track of your incoming and outgoing medical referrals. You need a system for tracking this information on behalf of your patients to keep everything in line. Rev-Ignition’s... Read More →
7 Ways to Improve Your Medical Billing Process, For You and Your Patients
If you don’t have a sound medical billing process, you don’t get paid. You’ll improve your practice and take in more money when you get a handle on your medical billing. Some popular forms of billing include handling it in-house, hiring a company and using software. No matter which you choose, the tips below can... Read More →
5 Ethical Concerns in Financial Reporting and Analysis
Financial reporting and analysis create success and well-being for all companies and organizations. The ethics of a company or organization come into play for proper reporting and analysis. Within the healthcare industry, financial reporting and analysis should come with ethics. Lives are at stake each day, no matter what the financial state of the organization. The... Read More →
Billing Software for Physical Therapy: Why It’s Needed for Your Practice
Managing a physical therapy practice can be incredibly time-consuming. Filing claims with numerous insurance companies, keeping up to date with filing requirements, and keeping track of billing statements can be draining on your staff. If you’re reading this article, you probably haven’t updated your billing software for physical therapy in a while. If this is... Read More →
5 Tips to Improve Your RCM
You may not have gotten into healthcare to make a lot of money, but without proper revenue cycle management, you’ll find it very difficult to maintain smooth, efficient operations and help your patients. That’s why it’s important to keep your RCM process as free from problems as possible, and there are a few things you... Read More →
An Overview & Outlook of US Physician Revenue Cycle Management
For better or for worse, one thing is true in both the healthcare field and the financial infrastructure around it; change is inevitable. As new methods of treatment and new methods of organization come into practice, this affects how payments are made and handled. This is especially true in the 21st century, where we’ve come... Read More →
How a Third Party Can Plug Your RCM Leaks
Revenue cycle management is a bit like plumbing in a home. It’s a largely invisible structure that most people don’t pay much attention to when it works, but once the flow is impeded or there’s a blockage, it can bring every activity in the household to a standstill until the issue is resolved. So, as... Read More →
What Is Blockchain & What Does It Have To Do With Healthcare?
The medical and healthcare industries are in a state of constant forward motion. New discoveries and technologies translate into a constantly evolving industry, and this also applies to administration and finance, not just the treatments themselves. We’ve already seen one big change in data organization and transactions thanks to the debut of electronic health/medical records,... Read More →
How Tracking Key Revenue Metrics Can Boost Hospital Profitability
Revenue cycle management or RCM, may superficially be regarded simply as a way to keep track of payments, claims, reimbursements and other financial transactions that are normal for any clinic or hospital. But while good RCM practices do serve this function, it’s possible for improved, more attentive RCM systems to actually increase operational efficiency. This... Read More →