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According to experts, hospitals, and private practice that do not consider improving their patient payment collection by making it a top priority will face significant challenges. Private practices relied on payers to make the majority of the payments for services they offered in the past. Today, healthcare providers and patients face severe issues due to skyrocketing financial responsibilities ushered in by high-deductible health insurance plans. Experts state that high deductibles can translate to future bad debts because some patients are unable to pay a portion of their medical bills or not pay at all. According to statements from The New York Times and Kaiser Family Foundation, about 20% of patients with insurance have difficulty paying for medical care. Additionally, the reports stated that this occurs when the patients’ co-pays represent about 20% of the providers’ revenues. The cost of collecting payments from patients is more complicated than securing reimbursements from -
Technology has become a centralized component of operation across all industries, including the various verticals of the health system. It’s revolutionized the way providers manage patient care. Telemedicine is one of those game-changing technologies, and the plethora of benefits from using it enables a more efficient, effective, and satisfactory relationship between providers and healthcare consumers. How? Why? Telemedicine Has Changed The Delivery Landscape To realize the full scope of this tool’s benefits, it’s important to understand that this system has evolved beyond just telephone consults. Clinical telemedicine applications can be divided into four categories – interactive mode (real-time), store-&-forward, remote monitoring, and telephone communication. In a nutshell, telemedicine solutions offer a comprehensive connection portal delivering convenience, cost-efficiency, and accessibility to health-related information, actions, and communication. Through smartphones, tablets, and computers, a vast array of patients at multiple locations can receive both direct and indirect services and information. Application covers a
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In this article, we would like to discuss an important topic that often gets overlooked; Cybersecurity setup in your office. Regardless if you are a single provider or larger multi-physician office protection of your data is extremely important. This is not only for your billing records but also for the Protected Health Information (PHI) you store on patients. We know utmost protection is needed here. Without it, there are serious consequences for you, your business and patients who trust you’ll keep their sensitive information secured. Here are a few medical cybersecurity tips for your office. Backup your data We don’t mean to another folder on your computer or a flash drive. We mean using something like our iGuard backup solution. This type of protection transfers your data through an encrypted network connection to our protected cloud server. In turn, the risk of stealing information is minimized. Furthermore, should you lose
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How to Assess EHR / EMR Systems Training and Implementation Training and implementation are key factors that drive the success and satisfaction you receive from any EHR software. Why is it so important to discuss these areas in detail before you make a purchase? Simply, becoming proficient at using your EHR software is the key to getting maximum value from the investment. Let’s face it, regardless of the quality of your EMR software. If it’s not configured for your practice needs, and if you don’t really know how to use it, then what’s the point in having an awesome software? Well-trained Users are More Productive When users understand the software’s functionality and full potential they can work faster and do more. For learning how to use the software, EHR systems training is second to only actual hands-on experience. A good trainer develops a quality depth of understanding which shortens the
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The History of Medical Records Software As the old saying goes, necessity is the mother of invention. This is certainly the case when it comes to the need to find a better way to manage patient medical records. For the medical community, the invention was creating specialized medical records software. Although EMR software is relatively new to many medical practices its roots as EHR software can be traced back to the 1960s. The University of Scranton states, “One of the earliest data processing systems originated in the mid-1960s and focused specifically on clinical data management…Also in the 1960s, the development of the Problem Oriented Medical Record by Larry Weed introduced the idea of using electronic methods of recording patient information.”1 Paper Medical Records Management Problems It was widely recognized that because the number of medical records is so massive, storing and organizing them requires a lot of time and is
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Pros and Cons of Medical Billing Solutions Outsourcing your medical billing is a smart move for many medical practices. Explore the thoughts of industry experts comparing in-house coding and billing to hiring a medical billing company. Outsourcing medical billing can make some people nervous yet it is a common topic among small medical practices. This conversation generally weighs the pros and cons of utilizing EHR billing software or third-party medical billing services. The situation that drives this discussion is a need to find a cost-effective solution for better revenue cycle management. Specifically, this comes down to the key goals are timely and accurate billing, collecting money faster and improving your bottom line. An Introductory Comparison In-house medical billing requires employees to use medical coding and billing software to complete tasks for revenue cycle management. Outsource medical billing means the doctor or practice business manager hires a third-party medical billing company
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Medical Billing Services 2019 For smaller medical practices and clinics, medical billing services are often an ideal alternative to tying up a small staff on revenue cycle management using EHR software. This article presents the advantages of using a medical billing and management service in the United States. What are Medical Billing Services? As the name implies, a medical billing service is a company staffed by trained medical billers that manage revenue-related functions for sole practitioners, group medical practices and healthcare clinics. Medical Billing Service Staffing Medical billing and coding specialists are certified and trained, including receiving ongoing training on industry updates, changes, and best practices. Regarding the importance of formal training and certification you can see the AAPC website which states, “Regulations and requirements with the current healthcare delivery system are best met when medical coders, certified in specialty practice, provide medical coding. Medical coders achieve AAPC certification through
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Medical Billing Software Medical billing and coding software can make a huge positive impact on your practice. Learn about the advantages of using medical billing software to improve your revenue cycle management process. What is Medical Billing and Coding Software? Medical billing and coding software facilitate efficiency in creating, filing, tracking, and recording payments for healthcare services. Medical billing software has traditionally been a program installed on a computer or computer network. The modern trend is using cloud-based medical billing programs made available on a subscription basis. The best medical practice software (EMR or EHR software) includes functionality for medical coding, billing, and accounting. Why Use Electronic Medical Billing Software? Electronic medical billing software opens the door to increased productivity, lower operational costs, and optimal management of the revenue billing cycle. Per Software Advice, “in 2014, we found that 88 percent of buyers (from a sample of 385) preferred cloud-based
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HIPAA Trouble and EHR Implementation – How to Avoid Legal, Ethical Issues Learn how you can avoid legal issues with electronic medical records management. Get tips on best practices to manage EHR / EMR security, privacy concerns and avoid problems causing HIPAA violations. HIPPA and the EMR EHR Environment HIPAA trouble due to errors in managing electronic health records can be costly. Every clinician and EMR software user needs to have a solid understanding of how to comply with HIPAA regulations. Lack of knowledge is a poor defense against alleged HIPAA violations. What you don’t know about EMR and HIPAA could cause you to make mistakes that result in civil or criminal charges, large fines, and possible licensing problems. Health Insurance Portability and Accountability Act of 1996 The Health Insurance Portability and Accountability Act of 1996, commonly known to as HIPAA, set federal standards for the electronic exchange, privacy and
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Revenue Cycle Management Revenue Cycle Management is a key part of managing the business side of a medical practice. The best medical practices, clinics and hospitals have mastered merging the clinical and business functions. RCM goes far beyond simply managing billing. RCM enables you to see where your money is going. From top level views to line-item details you can get the information that enables you to better manage your business. What is the Medical Revenue Cycle The Healthcare Financial Management Association (HFMA) defines revenue cycle as "All administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue." Effectively this means the revenue cycle encompasses all revenue related components of a patient’s account. What is Revenue Cycle Management? Revenue Cycle Management (RCM) refers to the financial management of your practice relative to income from services. Leveraging the power of medical billing software your practice
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Lytec 2020 – The Best Medical Practice Software Lytec© 2020 is a proven, trusted, and affordable practice management solution. The software is designed to simplify the way you run your medical practice. With each new release, Lytec medical practice management software gets better and more powerful. Every upgrade improves the user experience with functionalities that medical professionals have demanded. Get Lytec 2020 UPGRADE DISCOUNTS If you buy Lytec 2020 by November 2, 2019! Call MediPro at 1-800-759-1321 and select Option 2 for details. Explore the Benefits of Upgrading to Lytec 2020 Medical Practice Software a[href] { white-space:normal; } /* Client-specific Styles */ #outlook a {padding:0;} /* Force Outlook to provide a "view in browser" menu link. */ body{width:100% !important; -webkit-text-size-adjust:100%; -ms-text-size-adjust:100%; margin:0; padding:0;} /* Prevent Webkit and Windows Mobile platforms from changing default font sizes, while not breaking desktop design. */ .ExternalClass {width:100%;} /* Force Hotmail to display emails at
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CureMD Electronic Healthcare Records Software This article provides an overview of the CureMD All-in-One EMR software solution for medical practice management. We will introduce the practice management software features that make CureMD among best medical software for clinicians. Why Use EHR Systems Medical software programs empower you to improve the efficiency of managing electronic health records. The CureMD All-in-One EHR solution maximizes the experience with cloud-based technology. With a cloud-based EHR, multiple doctors and staff can securely access and manage information from desktop computers, laptops, tablets, and smartphones. With fast access for multiple users, your practice can improve both the patient experience and your bottom line. CureMD – the popular EHR software CureMD EHR software is extremely popular and highly regarded because it delivers everything a practice might require to manage electronic health records. With a sleek knowledgebase filled with your data managing information is as simple as point-and-click. The
