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COVID Recovery Plan: What Now?
Main Points COVID has disrupted the world and private practices are asking the question, "What now?" As providers look at their recovery plans they are asking Practice Solutions to offer solutions for evaluating a panel or #insurance company to take on an in-network basis Providers are starting to wonder what the mid and long-term impacts of COVID might be on commercial and government health insurance It is no surprise that #COVID-19 has turned the global economy upside down
Credentialing Series Part 3 of 4: Group Credentialing!
Main Points It is not always easier to add providers to a group Limited-license providers are tricky and depend on states rights Benefits for raise increases as a group vs. individual Perhaps you are growing a group practice or are just starting out and want to grow your practice into a group practice. This post is for you. This post will serve as a primer to those of you who are interested in group credentialing and paneling. The first thing to understand about group credent
Credentialing Blog Series Part 2 of 4: Pitfalls to Avoid!
Main Points What is credentialing What are the steps in credentialing What are the pitfalls to avoid Next, you will need to understand the basic process for credentialing in order to apply the terms you have learned above. Here are some frequently asked questions about credentialing and their answers: What is Credentialing: Credentialing, paneling, or payer enrollment is the process of showing and proving your credentials to an insurance company for the purpose of seeing pati
Credentialing Blog Series Part 1 of 4: What you will need to successfully credential!
Main Points Terms The complete list of information you will need to credential with insurance companies Navigating credentialing is a lot like wading through concrete. It can be a long and slow process, but there are actions you can take in order to be as prepared as possible. In this credentialing mini-series, we will go through the credentialing process and the information that you will need in order to be successful at credentialing. First, you will need to know some key t
How To Explain A Balance to a Patient
Main Points Be Clear Be Concise Be Constructive The reality of high deductible health plans (HDHPs) is still setting in. Patients are choosing to pay less in monthly premiums in exchange for HDHPs, but this places more of the financial burdens on the patient when it comes to paying for health care. This strategy is called assuming downside risk. This means that they pay lower premiums but the downside is that they will pay more in health services. Due to more patients assumin
So, You Want to Go Into Business With Your Spouse...
Main Points Create a shared goal with your spouse Play to your individual strengths Endurance and grittiness are key “What is it like being Jeremy’s assistant?”… is one of the most abhorrent questions Kathryn is asked on a regular basis. We tell people that we own a business and people assume that I am “in-charge”, “steer the ship”, and “run the show”. The truth of the matter is that my wonderful wife, Kathryn, is as much a leader if not more. When we decided to go into busin
Get Paid with Accurate Patient Records!
Main Points Collecting all the information you need from your patients will help you to keep accurate records and collect from them what you need to Patient demographic information is the first step to successful reimbursement Patient demographic information is important to ensure compliance in the revenue cycle process Getting a new patient inquiry is very exciting! A new patient inquiry is evidence that your marketing efforts are working and now you have an opportunity to u
What is a CMS 1500 Form?
Main Points: What is a CMS 1500 Form What do all the boxes mean In the United States Healthcare system there are actually two types of claim forms. There is a CMS 1500 form and a UB-04 form. The claim form system was developed to help identify the procedures being performed on patients and who was performing them, however, this is a difference between hospital services and professional outpatient services. This is why there are two kinds of claim forms. A CMS 1500 form is the
3 Ways to Increase Payment Velocity
Collect from your patients at the time of service and while they are in your office. Set up EFT for the insurance companies that you are in-
Breaking Bad - How a Show Can Alter Your A/R Methods
In the hit show, Breaking Bad, Walter White is faced with a terminal illness that would eventually leave his family in financial ruin after
