As patients return to doctor’s offices and health systems around the country, healthcare organizations find themselves in uncharted waters, with a greater need than ever to make data-driven decisions that grow revenue. There’s a deep well of data that each revenue cycle feeds into, which if properly analyzed, can help organizations operate at their most efficient and effective. There are four stages of data analytics workflows that are key to developing actionable insights for your company.
There are many benefits to social media in the healthcare industry, however, there is also huge potential for HIPAA violations of patient privacy to be violated on social media networks. The Privacy Rule protects All “individually identifiable health information” held or transmitted by a covered entity or its business associate, in any form or media, whether electronic, paper or oral. The Privacy Rule calls this information “protected health information (PHI).”
Medicare is the largest payer for most practitioners, so it’s important that providers maintain current credentials. Medicare requires providers to revalidate every five years to verify credentials and ensure they meet Medicare qualifications.
The impact of the COVID-19 pandemic will be felt in every industry for many months to come. For medical providers, they are facing some of the most challenging financial times they will or have known. Therefore, we understand that it is crucial for providers to re-access their business and look for ways to cut costs with minimal impact to their practice or their patients.
MIPS is a point-based program and understanding how to earn MIPS points is critical to avoid a 9% penalty. The MIPS program continues to change and evolve each year as it meets the goals laid out in the MACRA law and carried out by CMS. Since the program was implemented in 2017 the points threshold to avoid a penalty has grown from 3 to 60 out of a possible 100 MIPS points; the penalty has increased from 3% to 9% of annual Medicare reimbursements; and, the number of patients required to be reported on has increased from 20 patients to all patients for all payors. With the rules changing every year, the strategy you previously used to score MIPS points and report may no longer be optimal. If you want to avoid the 9% penalty in 2021 and beyond, you must think differently and evolve your strategy for MIPS.
Connecting with patients early and often is a formula for success to increase revenue for physicians
There is no surprise that the cost of healthcare continues to rise creating financial hardships not only for patients but for physicians as well. While the COVID-19 pandemic severely impacted how patients interacted with their physician’s office, it is important to understand that patients want to be financially responsible for their medical bills and have preferences on communication methods to increase revenue.
Are you worried that training your staff in a new medical billing system will be too overwhelming? No problem. Here at EZClaim, our focus is on our customers and providing the best support possible. We understand that every customer is unique with a different set of needs and we are here to help you. The medical billing industry is constantly changing and giving you the onboarding tools you need to achieve your practice’s goals is our number one objective.
Does your team spend countless hours on the phone attempting to collect payments from patients? Do you know how much of your valuable time is spent performing double data entries of those payments just to keep your books balanced? Do you find yourself wishing you had a one-stop-shop for all your patient payment needs? Well, you are in luck. EZClaimPay has the patient portal feature which allows you and your team to not only save time but makes it easier to collect and record payments.
Have you ever been a bit overwhelmed when shopping around for all your medical practice needs? Of course! There are so many pieces required to meet all the HIPAA and reporting requirements, but it’s also about efficiency and ease of sharing information between clinicians to administrators.
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