Los Angeles, California Sep 7, 2022 – Bristol Healthcare Services, Inc. announced today that they will be exhibiting at the upcoming 2022 Healthcare Business Management Association (HBMA) Fall Conference in St. Louis, Missouri from September 15th -17th.

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…)

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…)

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…)

What is the Medicaid program?

Medicaid is a jointly funded state and federal healthcare program that provides care to low-income individuals. Where Medicare is entirely a federal program, Medicaid, by contrast, is wholly administered by each of the fifty states within their borders.

The Centers for Medicare and Medicaid Services (CMS) provides oversight while states administer the Medicaid program. Additionally, CMS issues federal regulations and sub-regulatory guidelines that states must adhere to in implementing their Medicare program.

The CMS has promulgated requirements for Medicaid Provider enrollment. Credentialing standards are set by the National Committee on Quality Assurance (NCQA) and CMS. States may also have additional regulations for providers to participate in their Medicaid program.  (more…)

Medical Billing Reports help a physician to understand the financial health and the business side of the practice. The reports clearly show the different revenue cycle metrics, which indicate the areas of concern needing corrective action and the areas where revenue can be increased. Whether revenue comes from payors or patients, medical reports help a practice stay profitable while delivering excellent patient care.

Listed below are four impactful medical billing reports that will help a physician monitor the practice’s financial health and not leave money on the table. (more…)