The whole world is going through a pandemic. The world’s governments and health organizations are begging people to stay home and practice social distancing to prevent the spread of a deadly virus. Healthcare facilities are battling day and night to combat the novel virus with thousands of corona-positive patients getting reported daily throughout the world.
Proposing various methods to pay for medical bills has proven to be very strategic for smooth cash inflows. Each of the proposed methods helps the healthcare providers to engage their patients in the billing processes and ensure stable cash collection. As the payment process scope widens and your patients increase, providers find new ways to
Since the implementation of electronic health records (EHR), patients are receiving more standardized quality healthcare and more efficient billing options. This digital revolution did not only help the patients and healthcare facilities in keeping records, but also researchers and big data aggregators. They can use the record (with the patient’s consent) for research, clinical trials,
Bundled payments represent a form of APM (alternative payment models). They are created to offer value-based care by allowing providers to increase efficiency during patient care while improving revenue performance at low overhead costs. Bundled payments are a kind of episode payment model (EPMs) that require the providers to take risks and go above the
Medical billers and coders are very important figures in the healthcare business. They keep the physicians, nurses, healthcare professionals, and patients organized and on track with their duties and treatment by keeping record of all the diagnosis periods, treatments, and procedures. They submit the insurance claims to the insurance agencies as well, which turns into
Medical coding, medical billing and revenue cycle management are significant sectors in healthcare. They are necessary to transform patients’ records into medical codes so that practitioners, surgeons, nurses, and physicians can be paid for their services. Correct billing is a challenge that still, many health facilities around the world face. As these codes are typically