By Ranadene (Randi) K. Tapio, MBA, CMRS, CMC, Guest Contributor bio Revenue Cycle Management is multi-faceted. There may not be a right or wrong way as far as your process goes, but there are tips, tricks, and best practices that can optimize the process, and in turn, your reimbursements. After years of experience working with varying sized and specialty practices, … [Read more...] about 4 best practices to help optimize your processes and increase your reimbursements
Billing & collections
5 proven levers for improving your medical practice
Virtually any medical practice can immediately improve its revenue, cash flow, profitability, and growth, along with streamlining its operations by embracing five levers for medical practice improvement. John W. McDaniel, founder and chairman of Peak Performance Physicians LLC of New Orleans, LA, says these five levers apply to any type of healthcare business, whether it is a … [Read more...] about 5 proven levers for improving your medical practice
Get personal to get patients to pay faster
Set the expectation of payment before the patient comes in. When the office calls to confirm an appointment, whether it's a live conversation or an automated message, say, "Your co-pay is due when you check in." In other words, "bring your wallet." Some offices go so far as to refuse people who don't have the co-pay at the time of the visit. However, such a strict policy … [Read more...] about Get personal to get patients to pay faster
How to determine the order of multiple insurance coverages
By Ranadene (Randi) K. Tapio, MBA, CMRS, CMC, Guest Contributor bio When patients have multiple insurance coverage, at times it can be difficult to determine which one is primary, secondary, and tertiary. Sometimes, the patients don't even know which order they go in! While there are always going to be exceptions, here are some basic guidelines to keep in mind: … [Read more...] about How to determine the order of multiple insurance coverages
CMS finalizes changes to the Medicare Physician Fee Schedule and Quality Payment Program
Last week, the Centers for Medicare & Medicaid Services (CMS) finalized proposals that it says will address provider burnout and provide clinicians immediate relief from excessive paperwork tied to outdated billing practices. The final 2019 Physician Fee Schedule (PFS) and the Quality Payment Program (QPP) rule also updates Medicare payment policies to promote access to … [Read more...] about CMS finalizes changes to the Medicare Physician Fee Schedule and Quality Payment Program
Polite form on chart collects balance due at registration
Because staff don't like asking patients for money, one manager set up a non-confrontational form that gets patients to pay their outstanding balances at registration. The billing department attaches it to the charts each morning, and the front desk staff hand it to patients with, "Oh, by the way, there is a note here for you from the billing department." The form was designed … [Read more...] about Polite form on chart collects balance due at registration
3 questions to help you handle patient credits
By Ranadene K. Tapio, MBA, CMRS, CMC, Guest Contributor bio How does your office deal with patient credits? More importantly, does your office deal with patient credits at all? Believe it not, not all offices do. There are several reasons why an office wouldn't address patient credits—from just not knowing they should to not knowing how to being short staffed. If … [Read more...] about 3 questions to help you handle patient credits
Patient collections ‘bonus incentive’ program increases patient payments and staff pay
An Indiana practice recently established a bonus incentive program for its support staff that has been a huge help to patient collections. "I had managed an office prior to joining this practice where I was able to track patient collections percentages each day," Leanne Craig, office manager at Hendricks Therapy, tells Medical Office Manager. "I had a report within our … [Read more...] about Patient collections ‘bonus incentive’ program increases patient payments and staff pay
Simple but workable ways to improve collections
What's the cause of poor collections? Don't blame it on the office, says one collections expert. Sadly, the underlying reason for poor collections is today's all-too-common attitude that bills don't deserve respect. In the past, people were proud to pay their bills. No more. A bill that can be avoided gets avoided. And along with that, "the world has changed," says … [Read more...] about Simple but workable ways to improve collections
Reminder: Comments for QPP Year 3 NPRM due September 10
On July 12th, the Centers for Medicare & Medicaid Services (CMS) released proposed changes to its Physician Fee Schedule and Quality Payment Program (QPP). CMS is seeking comment on various QPP provisions in the NPRM. Comments are due by 5:00 pm ET on September 10. You must officially submit your comments in one of the following ways: Electronically, through … [Read more...] about Reminder: Comments for QPP Year 3 NPRM due September 10