If you’ve ever had a claim denied because of a simple coding mix-up between a new and established patient, you’re not alone. It’s something every healthcare provider must know to avoid revenue loss. It happens in practices across the country every single day. And in physical therapy, where reimbursement margins
Healthcare payment is evolving, with value-based care at the forefront of this transformation. . According to the 2024 HCP-LAN annual survey, over 60 % of U.S. healthcare payments now flow through value-based arrangements, and the number keeps rising. Medicare and Medicaid moved first, and private insurers have been following their
Automation has transformed the account industry, and now it is time for the Medical Billing industry to evolve.
For those of you who are not trained medical billers and coders you should know that the process can be quite complex for orthopaedic practices. Codes and specific modifiers required for obtaining maximum revenue with orthopaedic billing are constantly changing which has resulted in a unique set of billing challenges for this specialty. To make matters worse, orthopaedic fee schedules are getting reduced every year – so it is really important to stay on top of things to avoid losing revenue.
The bottom line is that improving efficiency and management skills will help you regain some control as a family practice owner. Drawing a budget plan and optimum use of resources will make your practice more rewarding, and it will help you attract new patients.
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