Recent government and industry reforms have created an environment where patients must shoulder a higher share of their medical costs. One result is that many practices’ medical billing revenues are being affected by drops in cash flow, particularly during the first half of the year when many … [Read more...]
Outsourced Centricity Medical Billing Offers More Benefits Than Ever
More physicians and medical practices are choosing to outsource their Centricity medical billing. According to a recently released report by Grand View Research, Inc., the demand is expected to result in the rapid growth of the medical billing outsourcing market — from $6.3 billion in 2015 to $16.9 … [Read more...]
How Does Your Practice Measure Medical Billing Financials?
Centricity Practice Solutions can produce scores of reports to measure medical billing financials and help you gauge the health of your practice. While it's always a good idea to keep an eye on several different metrics, there are a few numbers you should watch more closely than others. Here's are … [Read more...]
Medical Billing Services can Solve Staffing Challenges
Clearly, all practices are facing increased financial pressures, from shifting reimbursement paradigms to increased regulations and red tape and even the trend toward high-deductible health policies that put the onus on the patient to pay for much of his or her care. These challenges are well … [Read more...]
High Performance Centricity Medical Billing Helps Keep Your Practice Succesful
Managing a successful medical practice requires much more than excellent diagnostic skills. Centricity practice owners must also have the business acumen necessary for making critical financial decisions that determine whether the practice is a profitable. One way to determine if a practice is … [Read more...]
Common Medical Billing Claims Rejections Reasons
Do you know your claims denial rate? Some of the most recent benchmarking data for family practice groups suggests averages up 10%, while the AMA found that Medicare rejects roughly 5% of claims. Denied claims leave cash on the table that can impact your profit margin significantly if they aren't … [Read more...]
Prevent Late Patient Payments to Improve Medical Billing
The patient payment process is an important component of and Medical Billing Service. Many patients that default on paying medical bills do not originally intend to do so. When a patient gets sick or is hurt, the patient may not have the ability to pay off all of the bill at the start of treatment. … [Read more...]
CMS Final Rule Physician Fee Schedule
Taking effect on January 1, 2017, the Centers for Medicare & Medicaid Services (CMS) released its final rule for the 2017 Physician Fee Schedule. The revised regulations focus on reinforcing primary care, behavioral health and diabetes prevention. By providing physicians further incentive to … [Read more...]
