In 2023, nearly half of healthcare providers reported an increase in their claim denial rates compared to the previous year. This growing issue highlights the challenges hospitals and health systems face in managing an increasingly complex revenue cycle. As reimbursement models evolve and payer requirements tighten, the risk of claim denials continues to rise, resulting in delayed payments, increased administrative…

In healthcare, accuracy in ICD-10-CM coding goes beyond simple record-keeping; it directly impacts patient care, financial stability, and legal security. Selecting the correct ICD-10-CM codes doesn’t just ensure accurate patient records—it’s crucial for achieving fair reimbursement, protecting providers from potential audits, and upholding patient trust. With even minor coding errors risking denied claims, delayed reimbursements, or inaccurate treatment histories, the…

In today's rapidly evolving healthcare landscape, optimizing revenue cycle management is crucial for the financial stability of healthcare providers across the United States. To achieve this goal, efficient medical billing services play a pivotal role. In this article, we will explore how medical billing services contribute to optimizing revenue cycle management, ensuring financial sustainability for healthcare facilities. Understanding the Revenue…

Effective claims denial management is essential for healthcare providers and organizations to maximize revenue and minimize financial losses. Here are some steps you can take to improve your claims denial management process: Analyze denial trends: Start by analyzing your denial data to identify trends and patterns. This can help you understand the root causes of denials and develop strategies to…

Coding and Billing Services for Mental Health using Telehealth Just like the case in several hospitals throughout the USA, the commonness of intellectual fitness problems in the U.S. Has been growing all through the years. As per Mental Health America, in 2017-2018, 19% of grownup patients encountered psychological maladjustment, an increment of one.5 million individuals over closing year’s dataset. Coronavirus…

CMS proposes a reduction of the Medicare fee schedule conversion factor to physicians. This will drastically reduce the doctors' compensation next year. Today, the Medicare Doctors Price list for 2023 (CY) was released by the federal agency. The proposed rule reduces the conversion factor by $ 1.53, which results in a conversion factor increase of $ 33.08 over the fiscal…

An important role of the old AR recovery in hospital financial performance Your hospital’s primary source of un-received revenue is through accounts receivable. Hospital leaders or CFOs often neglect old accounts receivables. They are written off as bad loans and labeled as not collectible, which can lead to poor collections and excessive spending on incorrect billing and staff who do…

The field of cardiology medical billing is extremely rewarding. However, the best medical billing and coding services for cardiology groups require specialized information and hands-on experience. Medical billing for cardiology has always been based on patient data such as the length of stay, morbidity, and resource usage. Cardiology coding is severely affected by the requirement for detailed documentation and codes.…

E/M Introductory Guidelines for Hospital Inpatient and Observation Services Codes 99221-99223 and 99231-99239, Consultations codes 99242-99255, Emergency Department Services codes 99281-99285, Nursing Facility Services codes 99304-99310, Home or Residence Services code 99342, 99344, and 99345, 99347-99350. Elimination of Hospital Observation Services E/M Codes 99217-99220 (99217 has been removed. To report observation care discharge services, see 99238, 99239)(99218-99219, 99220, and 99220…