Author Archives: medrevinc

Medical Billing Issues That Are Impacting Your Practice

Every practice needs to have a medical billing system set up in order to properly receive payments in a timely manner. Many struggle with problems regarding their medical billing procedures. Here we identify some of the common medical billing issues practices.

Failure to notify patients of financial obligationsMedical Billing Issues That Are Impacting Your Practice

As we’ve discussed in previous blog posts, patients have become responsible for more and more of their medical costs. However, many do not understand the out of pocket balances that are due from them, leading to outstanding patient balances.

Outdated billing software

Having the right medical billing software can make your life much easier. Updating your software will not only fix bugs, but it also updates billing requirements and ICD codes. Keeping the ICD codes updated is especially important, as inaccurate coding can lead to an increase in claims denials.

Lack of regular training

You should be regularly training your staff how to use your medical billing system in order to clear up misunderstandings and to teach them how to use new features.

Inaccurate or missing patient information

Train your front desk staff how to properly receive and input patient information into your files, then regularly update the information whenever a patient comes in.

One way to avoid these medical billing issues is to ensure you’re signed up with the right medical billing services. Here at Medical Revenue Associates, our accounts receivable services can help prevent and resolve any medical billing issues your practice is struggling with. Give us a call today at 215-497-1001 to learn more.

The Pros and Cons of Credit Card on File

With patients paying more and more of their medical costs, many physicians across the country are looking for ways to ensure patients pay their bills in a timely manner. Keeping a patient’s credit card on file is one of these ways. There are several advantages to this form of payment, but also some disadvantages that…

What is Revenue Cycle Management?

One of the most crucial aspects of managing a medical practice is to ensure that the finances are in order, something that is critical for being able to maintain the operation of the medical practice. Revenue cycle management (RCM) is another terminology for Accounts Receivable, or the collection of insurance carrier and patient payments which…

Common Questions About Medical Credentialing

Medical credentialing and contracting is required for a provider to receive payment for their services. Medical credentialing is a complicated process that takes time and precision. There are many steps and doing just one thing incorrectly can upend the process. Here are some of the most commonly asked questions about medical credentialing: How long does…

What is Medical Credentialing?

Ensuring a healthcare provider has the proper education, training, certification and credentials not only makes certain that they are qualified to provide care, but it is also integral to being “in-network” with health insurance companies. Credentialing makes this happen. But what is it and how, exactly, does it work? Here are the details: Credentialing—The Basics…

Medical Revenue: Planning Your Service Charges with the Medicare Physician Fee Schedule in Mind

The Medicare Physician Fee Schedule (MPFS) applies to healthcare provider services such as office visits, lab work, types of therapy, surgical procedures and more. It gives providers guidelines on what Medicare will cover for services and how much it will reimburse the provider. Medicare Physician Fee Schedule Rates The rates are determined based on input…

Credentialing Services: Adding or Removing a Physician from Your Carrier Profiles

Being a practice within a managed care carrier network or multiple carrier networks means inevitably having to add or remove a physician from your carrier profile. This process involves an application process (completing the 30-page Council for Affordable Quality Healthcare (CAQH) questionnaire) for a specific network and must be completed whenever there is a provider…

Credentialing Services: Benefits of Joining a Carrier Network

Taking the time to join an established provider network can sound like a huge drain on office resources but doing so can be a major benefit for healthcare providers in the practice, as well as your patients. In-network vs. out-of-network Most patients with insurance have the option of choosing a doctor or healthcare provider that…

What to Know About Credentialing and How Long Does the Process Take?

Being a credentialed practice helps you get “in-network” with insurance companies. Patients will almost always look for providers that readily accept their insurance, as it usually more cost-effective for them and makes the payment process easier. However, becoming a credentialed practice is not necessarily a brief and easy thing to do. The process usually takes…