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Category Archives: Outsourcing medical billing

Technology Aids Patient Payment Collections and Financial Resilience

Digital Technology used for patient payment collections.

The healthcare industry is witnessing the trend of increasing patient payments for medical services. The insured’s adoption of high deductible health plans leads to lesser payments by payors and more out-of-pocket expenses by patients. Further, unexpected medical emergencies mean financial stress on the patient’s families and the physician, too, whereby the practice has to find ways to collect dues from the patient.

It is now essential for practices to frame clear-cut policies for collecting payments from patients and adopt patient-friendly ways to communicate and receive payments. Investing in technology will go a long way in shoring up your revenues and aiding in financial resilience for the practice. (more…)

Reliable Contract Negotiation Services are Crucial for a Thriving Practice

Payor contract negotiation needs preparation

One of the ways to increase the financial performance of a practice/ healthcare organization is payor contract negotiation. However, payor contracts can be complicated and difficult to interpret even with an attorney or consultant by the side of a physician. Hence a lot of preparation has to be done before going to the negotiating table.

A well thought out strategy needs to be planned and negotiating points to be kept in mind during discussions with payors over contract language/terms, inclusions, exclusions and coverages. Persistence in this process and successful contract negotiation pays in the long run. This is especially so in the post-COVID era with the unprecedented financial challenges faced by providers and payors. (more…)

Medical AR Recovery Services Increase your Bottom Line Significantly

Medical AR Recovery Services are vital

Healthcare providers are committed to serving humanity, sometimes at considerable cost to themselves. They forget that the business side of their practice is also essential to keep the doors of their practice open. There are billions of dollars in disputed payments from both federal and commercial payors. AR recovery services from dependable medical billing companies can help stem the tide. (more…)