(And Why Most Organizations Don’t Have One) Healthcare organizations don’t struggle because they deliver poor care. They struggle because their financial infrastructure was never designed for the reimbursement reality they now operate in. Payer complexity. Delayed collections. Rising labor costs. Thinner margins. Most organizations are running modern healthcare operations on financial systems that were never […]
If you have spent any time in healthcare billing, you know that denial codes can quietly drain thousands of dollars from your revenue cycle before anyone notices the pattern. Among the most misunderstood and frequently overlooked is the PR 31 denial code. It shows up on an Explanation of Benefits (EOB) or Remittance Advice (RA),
Listen up, doctors, suppliers, and anyone billing Medicare for patient care! There’s a new wrinkle in the world of enrollment – the “stay of enrollment.” Don’t worry, it’s not a complete shutdown, but it is a yellow card from Medicare. So, What Exactly is a Stay of Enrollment? Think of it like a temporary hold
We’ve heard a lot about RPM and the ability to gain significant revenue just by implementing the program in your healthcare organization. In this two-part series we’ll talk about the financial benefits, as well as things to keep in mind in order to effectively implement an RPM program. The financial benefits of implementing remote patient
As a reminder, Covid-19 Accelerated and Advanced Payments repayment will begin this year. The Continuing Appropriations Act established that repayment will begin “one year from the issuance date of each provider or supplier’s accelerated or advanced payment” Medicare will automatically recoup 25 percent of the Medicare payments owed for eleven months, If full recoupment is
As we learned earlier this week, there has been a push for approval from the FDA for emergency use of a COVID vaccine. On the heels of the news, the AMA announced new CPT codes for each of the two COVID vaccines as well as administration codes for each vaccine. Releasing the CPT codes ahead
As tradition always had it, workers would clock in at their jobs at 9am and clock out at 5 pm. Sometimes, there would be instances in which the employees would be required to come into work early or stay late. With the advent of technology, however, the world evolved and came closer together. People were
I have encountered phrases over and over again such as revenue is down from last month or February is a bad month. I’m going challenging both of these concepts with insights as to the revenue cycle. After all, it’s called revenue cycle and not revenue linear. In reviewing financial performance I have seen many organizations
Are you drowning in unpaid patient bills? Are you sick of focusing on how much your patients have paid on their bills instead of what medical treatment will best serve them? As the head of your practice, you have to ensure that you’re making money to pay the bills but you may be wishing you
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