Over time, one would expect financial management of a medical practice to become more streamlined and simple. With the abundance of electronic tools, software programs, and the Internet, you can find assistance and problem-solving strategies for economic efficiency. In the rush to take advantage of these support tools, basic facets of financial management, such as billing and collection, have fallen by the wayside.
Missed Appointments Equal Missed Revenue
What do you do when a patient misses an appointment? While an opening in the schedule might seem like a good time for staff to take a break or catch up on their to-do lists, missed appointments are a growing problem in physician practices. With today’s need to maximize every dollar, practices should take a closer look at the effect these missed appointments have on their bottom lines.
Clean Claims Equal Prompt Payment
Submitting a clean Medicare reimbursement claim the first time can save your practice thousands of dollars each year. The Centers for Medicare and Medicaid Services (CMS) defines a clean claim as “a submitted patient claim form without any defect or need for substantiation.”
Is Your Office Lab Up to Par?
Rheumatology practices with laboratory testing facilities in their offices can offer important benefits to patients and physicians. During their care of patients with musculoskeletal and rheumatic diseases, rheumatologists may order many tests, including erythrocyte sedimentation rate, synovial fluid analysis, complete blood count, fecal occult test, and urinalysis. While the prompt receipt of test results and the capability to evaluate specimens in the office directly improves efficiency, it is important to remember that offices must be certified to perform laboratory testing, particularly high-complexity tests such as the analysis of synovial fluids.
Fraud and Abuse: What’s the Difference?
Each year, fraud and abuse cost the Medicare and Medicaid programs billions of dollars. What is the difference between fraud and abuse? The Centers for Medicare & Medicaid Services define fraud and abuse as two different offenses…
National HMO Class-Action Case Settled
The latest development in the healthcare class-action settlement will affect approximately 900,000 physicians (and some major state medical societies) who may be eligible to receive compensation from the settlement – as long as they file a claim. The case has been called “historic” by those representing both physicians and insurance companies.
What Gets a Good Rheumatologist Sued?
Pitfalls to avoid and habits that protect you from malpractice suits
Consultation or Referral? That Is the Question
One of the most troublesome coding decisions is determining whether a visit is a consultation or a referral. To avoid the hassle of incorrect coding, one must first understand the difference between a consultation and a referral.
Enhanced Opportunities at the 2007 Meeting
The AMPC is using more translational components as a way of increasing the basic scientist’s interaction with clinicians, he explains. In keeping with this, the meeting will offer sessions on osteoclasts, implications for the development and treatment of osteoarthritis, T-cell subsets, and a year in review – all of which will be of interest to both the clinician and the basic researcher.
Let’s Talk Tech
As microchips permeate medicine, our new council will spearhead electronic initiatives
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