Industry Insights for Medical Professionals

Patients have medical insurance to help pay for these costs, so denials can be an overwhelming roadblock. Avoiding and resolving denials are the key to maintaining a healthy patient and a healthy cash flow. Read on to learn about our tips for how to avoid, manage, and resolve denials for patients and for practices.

Clean claims drive the overall revenue of health care providers and provide a healthy cash flow. Each time claims get denied, they weigh down your accounts and hold up the revenue your medical practice brings in. Denials become costly from a valuable time and financial perspective – so getting it right is important to your revenue stream, keeping your practice moving forward efficiently.

Revenue collection is a tricky tightrope act. You understand that paying for health care can be challenging for patients, but you also need their payments to continue providing them with the care they need.

Both your healthcare practice and your patients lose out when patients don’t show up for their appointments. In the United States, the annual cost of patient no shows is $150 billion. On a more micro level, individual physicians lose $200 per missed time slot.

While your patients’ wellbeing is your number one priority, your practice needs a consistent, steady stream of income to provide your patients with the best quality care and treatment.

One fact that everyone can agree on: COVID-19 has made a significant impact on the world. The world has adapted and changed greatly over the last couple of years. Read about the most common myths and facts about the vaccine.

Health care providers are tasked with safeguarding the general population’s health. Though it is essential for them to do everything that guarantees the health of their patients, they should also protect their financial health.

Though several things have changed the way the world works, few have had as much an impact as the coronavirus. This respiratory infection has been announced by the WHO as a pandemic, with governments worldwide taking different steps to curb its spread.

At the start of the pandemic, a few medical practices assumed that this would mean a boom in profits for them. Even so, many suffered losses with most patients opting out of elective surgeries and in-person visits.

At the start of the pandemic, a few medical practices assumed that this would mean a boom in profits for them. Even so, many suffered losses with most patients opting out of elective surgeries and in-person visits.

When starting a medical practice, you expect to have a steady cash flow so that you can meet the expenses of running the practice and make healthy profits. Unfortunately, this might not happen in most cases.

After the passing of the Affordable Care Act in 2010, several incentive programs were introduced to shift the healthcare sector to a value-based model from a fee-based one.