8 Steps to Run a Profitable Medical Practice
"Advocate. Market. Elevate."

Archive | Revenue Cycle Management RSS feed for this section

8 Steps to Run a Profitable Medical Practice

Healthcare Consulting

How can you grow, serve more patients and keep your costs in check — all at the same time? In other words, how do you give great care and get paid every dollar you are owed? The following are 8 ways to grow your practice: Know Your Numbers Get Integrated  Go Paperless Be Mobile Automate Read more

Read full story

How to Achieve Success through Key Performance Indicators (KPIs)?

Healthcare Consulting

STEP 1 – Assess your Current Situation Look for opportunities to analyze your progress. By tracking and comparing key performance indicators, or KPIs, you can identify and address issues with productivity, reimbursement, claims submission, and other processes. Days to final bill—number of days from the time of service until provider generates and submits a claim Read more

Read full story

How to Read an EOB / ERA

ERA/EOB - Reimbursement

Many physician practices recognize the Health Information Portability and Accountability Act (HIPAA) as both a patient information privacy law and electronic patient information security law. However, HIPAA actually encompasses a number of regulations. As such, the federal government has published several “rules” that instruct the health care industry on how to comply with the law. Read more

Read full story

DMV Makes Changes That Affect Physicians

Road (DMV)

Department of Motor Vehicle (DMV) has made two changes that affect physicians. Effective January 1, 2014: DMV will only accept new DL 51 (1/2014 revision date) for commercial driver exams as a valid medical examination report for commercial driver license holders. Exams performed before January 1 can still be submitted on the older forms (revision Read more

Read full story

Blue Shield Changes Its Fee Schedule

Blue Shield Logo

In a notice sent to physicians on September 23, Blue Shield notified physicians about a change in the physician fee schedule. The new fees took effect December 1, 2013.  The insurer said that it would be increasing payment for evaluation and management services for preventive care. Additionally, Blue Shield notes payment increases for the more Read more

Read full story

Close Your Year With Confidence!

Checklist_End of Year

The following is a brief guide to getting ready for the new year: Allowables Do you have any new insurance contracted amounts (allowables) that you need to load in your practice management software for the new year? If you do, load these new fees in your practice management. And, if you do not have your allowable Read more

Read full story

Charging for “Free” Forms!

Charging for Forms

Due to rising practice cost and declining reimbursements, most physicians are looking into charging for services that they have done for free for years. One of the new sources of revenue is charging patients for completing forms. Charging patients for forms comes with a risk. Patients are not accustomed to paying for it and this Read more

Read full story

Are You Ready for Noridian – Your New Medicare MAC?

Medicare Transition to Noridian from Palmetto GBA

The Centers for Medicare & Medicare Services (CMS) first announced in September 2012 that Noridian Healthcare Solutions has been named the new Medicare Administrative Contractor (MAC) for Medicare Parts A and B in California, Nevada and Hawaii, as well as the U.S. territories of American Samoa, Guam and the Northern Mariana Islands (Jurisdiction E, previously called Jurisdiction Read more

Read full story

When is a “New Patient” Considered “NEW”?

Define a "New Patient" visit?

In 2012, the American Medical Association (AMA) revised its definition of a “New Patient” in its Current Procedural Terminology (CPT®) book. However, CPT®’s definition of a new patient did not mean Medicare would necessarily follow suit. Indeed, this change did not have any impact on Medicare Part B claims. CPT® defines a new patient as: Read more

Read full story

Hiring a Billing Company – Compliance Plan (Part 3)

Hiring a Billing Company

Does the Billing Company Have a Compliance Plan? One of the most important components of doing your due diligence in hiring a billing company is to ensure that they have an active compliance plan. In fact, having a compliance plan should be a hiring requirement. Having a compliance plan is imperative and, at the least, Read more

Read full story