The Knowledge Store

Posts

RCM Challenges Faced By Hospitals

- August 21, 2019

Hospital Revenue Cycle Management is a financial process in the health care services that utilizes medical billing system to track patient care - from registration to appointment scheduling and the final payment of a balance. It unifies the clinical and business sides of healthcare by coupling administrative data, such as the patient’s name and other personal information with the treatment he or she receives and their healthcare data. Here are a few things involved in revenue cycle management: 1. Preregistration: This involves the collection of information about the patient such as the insurance coverage before a patient goes into inpatient or outpatient procedures. 2. Registration: Collecting subsequent information about the patient during the process to establish a medical record number and meet various regulatory, clinical and financial requirements. 3. Charge capture: This process involves rendering medical services into billing charges. 4

Tips To Improve Account Receivable In Your Medical Practice

- July 03, 2019

Are you thinking that high accounts receivable are affecting the cash flow of your practice? If so, then you are not the only one- many practices go through revenue postponement for the same reason. What is A/R in Medical Billing? When your practice bills an insurance company or patient for services, the cash they are indebted is known as accounts receivable (A/R). Normally, practices calculate A/R like “days in A/R”, which is considered by dividing the overall A/R amount by the average daily charges of hospital revenue cycle management . If your practice in A/R is 30 days, then you won’t get paid for 30 days of work. A/R in healthcare accounts receivable management is categorised by age, i.e. time period from the insurance company or patient was billed. Good practice ensures an increase in cash flow, which includes the highest ratio of A/R in the main bucket and a lessening amount in every following bucket. Top Tips To Improve Cash Flow And A/R A high A/R prevents ca

Essential Questions To Ask Your Federal Attorney

- June 18, 2019

Legal counsellors will regularly give a free or exceptionally minimal effort conference to talk about the subtleties of your circumstance and offer you a chance to pose some fundamental inquiries about the Federal Target Attorney in Tampa . This gathering, not just assistance you choose whether to go ahead with a legal advisor, as a rule, yet also whether you ought to continue with this Federal Crime Attorney in Tampa . If you later choose to enlist the legal advisor, you will go into an increasingly detailed discussion of your case and pose progressively explicit inquiries en route. As a rule, you'll need to have a rundown of questions as the main priority to pose during the meeting. Additionally, you should feel great enough posing inquiries that identify with the Federal Crime Attorney in Florida skill, experience, expenses, extraordinary learning, and the board of the case. Below are ten questions to ask your Federal Crime Attorney in Florida : How long have you

How To Eliminate Home Health Billing And Coding Errors

- May 28, 2019

It's essential that medical agencies comprehend the basics of home health billing to decrease mistakes. They can cost you a critical sum in fees and penalties . As indicated by the OIG Fiscal Year 2017 Work Plan, the CERT service provider found improper payments were made for about $9.4 billion, or 51.4%, of home health coding claims in 2014. l How to reduce the possibility of errors in home health billing : As should be obvious above, many home health coding errors come from not having the assets important to productively and successfully deal with the charging procedure. Here are a few ways you can use to enable your agency to streamline your billing activity: l Conduct an exhaustive examination of billing practices of your home health organisations so that no part goes non-revealed : Investigate what your billing procedure is present, how well it is working for you, and what you have to do to improve. Ask yourself, "Would you say you are getting paid for

Expand your business offshore in the UAE

- March 29, 2019

For years now, UAE has become the hub of growing businesses. With the emergence of Offshore Companies in the year 2003, business setup in UAE has increased drastically. An offshore company has emerged as the ideal option for both setting up and expansion of a business. If you are looking forward to company formation in Dubai free zone , you are in the right place. What is an offshore company? An offshore company is also known as the non-resident company. It can be owned either by individuals or corporate bodies. Typically, it is a business entity which does not carry business operations in the country of origin. Although an offshore company cannot own office in UAE, it is primarily used for reducing tax payment, legally, and enhancing one’s wealth. What activities can be carried out? Following are the activities that can be legally carried out by an offshore company: Consulting services Advisory services General trading activities Buying, holding and selling shares of companies

Search This Blog