We all know networking is important. Most of you reading this blog found out about it through LinkedIn, proving that to some extent our readers are currently trying to network. Being as we are already networking, I don’t need to explain the benefits of networking. However, have you thought of how much your practice would grow and improve by having your employees network too?
Working in Healthcare, we spend most of our waking time at work instead of at home with our families. While having employment is a blessing, when you don’t like your co-workers or employees, it can feel like a curse. Since we must work together, why not try to improve the time we spend together? Having open lines of communication can help subdue negative feelings as well as improve relationships with both employees and patients too.
We have been hearing about the transition to ICD 10 for many years now. The most recent report is that ICD 10 codes will be required on dates of service from Oct 1, 2015 and forward to all HIPAA entities. Technically work comp and auto insurance companies are not going to be required to update to ICD-10 codes, however some companies are doing so. The way it stands now, a medical practice may have to use both ICD 9 (our current codes) and ICD-10 depending on whether the payers are health insurance companies or work comp and auto insurance carriers.
It’s that time of year when we all think about resolutions for New Years. The most common resolutions have to do with improving our health such as eating better or getting more exercise. But isn’t it important to want to improve your financial health? We will have a series of blog posts highlighting the top 5 New Year’s Resolutions you should be implementing with your billing staff.
Resolution #1 Improve Patient Collections
Revenue Cycle Management is the process that manages claims processing, payment and revenue generation. Why is this important? Is your office doing this currently?
1) Being unaware of referral requirements or visit and/or dollar limits
Insurance can be complicated and sometimes patients don't really understand their plans. To prevent that from becoming a billing issue, Midwest Medical Milling performs a benefit investigation on each patient and speaks to a live representative (where allowed) to get specific benefits in real time.