Accounting vs. Billing: Pitfalls to Avoid
Accounting and billing are oftentimes confused in the private practice setting. Billing usually refers to the process called revenue cycle management (RCM) where a practice submits a claim for reimbursement from a third party payer. Accounting usually refers to the process of bookkeeping and tax preparation as a result of revenue, expense, and profit generation. It is important to learn about the difference between accounting and billing so that you can run your practice effe
Communicating with Your Biller
Hiring a biller can feel intimidating. You’re trusting someone with a financial aspect of your business. Letting go of that responsibility can be scary, but if communication is clear and respectful from both sides you can end up gaining more authority, control and visibility over your practice’s financial health while getting to spend more time with your patients. Practice Solutions has been operating for over five years, but our billers have been in the insurance billing ind
One of our goals as a company is to provide you with the most up to date information that can impact your practice. We believe that it is important that you are well informed with all of the available information that can improve your practice. Recently, we did quite a bit of research about CARF Accreditation, what the process is, and how it can provide value to your practice and to your clients. What does CARF stand for? First, CARF is an acronym that stands for Commission o
What is Availity and and How is it Helpful for Insurance Billing?
Availity is a great free tool for mental healthcare providers who are billing insurance. Through the Availity portal, you can establish secure HIPAA compliant connections to payers so that you can perform eligibility and benefit checks for your patients, submit claims, receive ERAs, and more. Availity is also at the forefront of advancing technology in the healthcare industry. If you are a provider accepting insurance, we recommend setting up an account with Availity or follo