Medical Billing Services

The financial security and expansion of your practice greatly relies on streamlined revenue cycle processes. Poor management of the healthcare revenue cycle results in decreased effective revenue collection and longer accounts receivable (AR) days. The core of revenue cycle management is accounts receivable since it helps you get paid more quickly, which leads to more profitable operations. Ensuring efficient collection and keeping track of AR days are key components of streamlining the healthcare revenue cycle. This can be swiftly done with medical billing outsourcing services . A properly managed revenue cycle results in faster and less laborious revenue generation. From doctors, nurses, and other clinicians to the medical billing and coding team and front office workers, everyone has a job to do. Thus, our team at Medisys Data Solutions is here with simple strategies to improve collection and decrease AR days. 1. Leverage Technology To Reduce AR Days Today, a variety of software too...

In recent years, outsourcing has quickly expanded as a trend in the healthcare sector. The global medical outsourcing industry will reach $449.6 billion by 2023, predicts a 2019 market analysis. Despite the fact that many practices prefer the skill and knowledge of in-house staff to those of an outside stakeholder, the complex and constantly evolving healthcare environment makes it challenging for a small in-house team to properly keep on top of all the best practices for medical billing. This means that by outsourcing these tasks, practices can boost revenue and essentially expand their personnel to include specialists who keep up with any developments in medical billing. Here’s an explanation of what outsourcing medical billing is, how it might benefit your business, and how to ensure a smooth transition. The ability of automated medical billing, charge capture, and claim submission to perform human tasks more effectively and affordably is increasing. Both robotics and AI have enorm...

The internet is ringing with the news of the CMS Updates Final rule for the 2023 Medicare Physician Fee Schedule . The finalized 2023 Medicare Physician Fee Schedule was announced by the Centers for Medicare & Medicaid Services (CMS) on November 1 2022. The 2023 MPFS features a decrease in the fee schedule conversion factor from $34.6062 to $33.0607, reflecting in part the expiration of the temporary 3% supplementary increase in fee schedule payments for CY 2022, among other significant modifications outlined by CMS. Additionally, the 2023 MPFS includes adjustments to telehealth flexibilities that correspond to provisions of the 2022 Consolidated Appropriations Act, such as the extending of several telehealth flexibilities for a period of 151 days after the COVID-19 Public Health Emergency has ended (currently set to expire January 11, 2023, but subject to further extension). In addition to these revisions, the 2023 MPFS contains information on revised coding, work RVUs, and practi...