Topics: Effective AR Management, Accounts Receivable Management, Urgent Care Centers, Urgent Care Industry, Revenue Cycle Management, Medical Billing Services, Healthcare Revenue Cycle Management Services, Medical Billing Company in Orange County, Medical Billing Services Provider, Medical Billing and Coding

Topics: Accounts Receivable Management, Revenue Cycle Management, Medical Billing Services, Healthcare Revenue Cycle Management Services, Medical Billing Company in Orange County, Medical Billing and Coding, Medical Practice

The two most integral positions in the success of any healthcare practice are the physician and the medical biller. While the physicians work hard to provide the best care to the patient, it is expected of the biller to ensure optimal reimbursement for the physicians. We continuously speak toindependent physician practices and are often told that their practice is consistently losing money! Some would say too many claim denials are rocking their boat. Others would say the AR is so out of control. This is certainly not acceptable, but the real question is... Why does this happen? 

Topics: Accounts Receivable Management, Urgent Care Industry, Healthcare Revenue Cycle Management Services, Medical Billing Company in Orange County, Medical Billing Services Provider, Leading Medical Billing Company, Medical Billing and Coding

Cash flow is the lifeline of any business, and an independent medical practice is no different. As a practice owner or administrator, the best way you can ensure consistent and increasing cashflow is by preventing your revenue from being locked in denials. Management of denied claims is important and will remain so, but the main focus needs to shift from management to prevention. The benefits of this shift are immense but so are the challenges of eliminating the traditional retroactive approach. 

According to industry sources, 90% of all claims denials can be prevented. However, for this preventive mechanism to work and deliver optimal results, all departments in the revenue cycle need to collaborate and work cohesively. Once you have seamless & effective practices implemented throughout processes such as patient access to claims submission, you will reduce your future denial rate by 50-60% and enjoy sustained cashflow. 

In this article, you will learn the 4 critical steps required to implement preventive denial management. 

Topics: Effective AR Management, Accounts Receivable Management, Cosentus News

The two most important positions in the success of any healthcare practice when it comes to increasing revenue is the physician and the medical biller. While the physicians work hard to provide the best care to the patient, it is expected of the biller to ensure optimal reimbursement for the physicians. We keep talking to independent physician practices and we are often told their practice is losing money all the time! Some would say too many claim denials are rocking their boat, others would say the AR is so out of control. This is certainly not acceptable, but the real question is why does this happen?

Download our FREE Billing and AR checklist: The Ultimate AR checklist! 

Topics: Accounts Receivable Management, Urgent Care Industry, Healthcare Revenue Cycle Management Services, Medical Billing Company in Orange County, Medical Billing Services Provider, Leading Medical Billing Company, Medical Billing and Coding

The ever-changing healthcare landscape means coders and billers also must continuously update their skills and concepts to stay on top of the changes to make sure they are not leaving money on the table. With the introduction of EMR and advanced practice management software, the general belief is that the standards of billing and collection will be like never before - with every claim being billed out accurately and collected upon in a timely manner. Unfortunately, according to industry sources, independent medical practices are still leaving as much as 30% potential revenue on the table due to the inefficiencies in the billing and collection process. This happens because the rejection and denial rate is still too high and almost 50% of denials never get worked resulting in 5-7% loss of potential revenue. When you have too many denials your revenue can quickly get locked in Accounts Receivable creating a serious impact to your cash flow.

Cosentus is a leading medical billing service provider having optimized the billing and collection processes for numerous practices, enabling them to maximize their revenue and get rid of their cash flow issues. The purpose of this article is how you can implement these basic changes to your existing billing process and see your revenue grow by 25-30%.

Topics: Effective AR Management, Accounts Receivable Management, Cosentus News, Medical Coding- Optimization, Contract Negotiation, Urgent Care Industry, Revenue Cycle Management, Medical Billing Services, Healthcare Revenue Cycle Management Services, Medical Billing Company in Orange County, Medical Billing Services Provider, Leading Medical Billing Company, Medical Billing and Coding, Medical Coding

Topics: Accounts Receivable Management, Revenue Cycle Management, Medical Billing Services, Healthcare Revenue Cycle Management Services, Medical Billing Company in Orange County, Medical Billing and Coding, Medical Practice

Topics: Effective AR Management, Accounts Receivable Management, Urgent Care Centers, Urgent Care Industry, Revenue Cycle Management, Medical Billing Services, Healthcare Revenue Cycle Management Services, Medical Billing Company in Orange County, Medical Billing Services Provider, Medical Billing and Coding

The Urgent Care industry is going from strength to Strength. What’s been driving this growth is their ability to provide affordable, efficient and quick medical care. This trend is sure to continue and as per projections the industry will hit $21 billion by 2020.

On one hand the industry is booming and on the other hand a lot of clinics are complaining of shrinking profit margins. A lot of this has to do with the inefficiencies in their revenue cycle management processes. The challenges are many ranging from technological deficiencies to lack of billing & coding expertise. Urgent Care clinics must pay close attention to their revenue cycle performance for them to continue being profitable. Cosentus believes every Urgent Care clinic must pay close attention to these 4 areas for maximize their revenue.

Topics: Accounts Receivable Management, Medical Coding- Optimization, Urgent Care Centers, Contract Negotiation, Insurance Network, Urgent Care Industry, Fee Schedule, Revenue Cycle Management

Cash flow is the lifeline of any business and an independent medical practice is no different. As a practice owner/ administrator the best way you can ensure this, is by preventing your revenue from being locked in denials. Management of denied claims is still important and will remain so, however the focus needs to shift from management to prevention. The benefits of this shift are huge but so are the challenges of eliminating the traditional retroactive approach.

According to industry sources 90% of all claims denials could be prevented. However, for this preventive mechanism to work and deliver best results, all departments in the revenue cycle need to collaborate and work in cohesion. Once you have cream of the crop practices implemented throughout the processes from patient access to claims submission, you can reduce your future denial rate by 50-60% and enjoy sustained cash-flow.

In this article you will learn 4 critical steps to implement preventive denial management.

Topics: Effective AR Management, Accounts Receivable Management, Cosentus News