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Adding Pink to Your Services Spectrum

Looking for new avenues to spark your healthcare business- women’s health may be the direction. Let’s face it, every operator is searching for the latest thing, that special marketing edge or new gadget that can set their practice apart from the competition and draw in new patients. Revenue is the name of the game, but with the payers constantly changing the way the game gets played with declining reimbursement, closed networks and often unreasonable contractual requirements, its no wonder that many practices submit to joining larger health system groups. But for those that are toughing it…

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Happy New Deductibles!

At the start of a new year, deductibles can be a challenge for patients and providers alike. Patients may not fully understand deductible resets or their healthcare plan’s policies in general. When patients are confused, they are less likely to pay their balance to providers. Additionally, some patients may not be able to pay their bills in full when deductibles reset to their annual maximum amount, which can be as high as $6,000 for a family health plan. As a result, deductible resets cause cash flow and collection problems for provider organizations, while also causing a strain in their…

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Above All Else Do No Harm…

Mark your calendars for March 8 through the 14th next year. What’s so special about that week other than the promise of upcoming shamrocks and green beer? The second week of March marks the observance of National Patient Safety Week when healthcare organizations of all sizes and disciplines can put up posters, hold special events and webinars and basically spruce up their efforts to make sure their patients – their reason for existing – don’t leave their practice in worse shape than when they arrived. But really, why just one week a year. Doesn’t patient safety deserve more than just 5…

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Corporations — Friend or Foe?

I recently read a post on Facebook about how horrible corporations are and that they are stealing from society. That corporations are only about profits and that it’s not right that they should be taking so much from society. Those who commented also went on about the evil of companies. No one mentioned where they get their paycheck to pay their house payment or suggested an alternative. It rubbed me the wrong way, but the more I have thought about it, the more untrue it seems to me. While it may be true that corporations are about profits, it must also be true that these profits only come…

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Credentialing 101

Insurance credentialing can be a confusing and lengthy process that will leave you frustrated. Unfortunately, you don't get paid by third-party payers unless you are credentialed and have a contract in place. It's important to understand what credentialing is and what it is not. Credentialing is the process third-party payers use to evaluate your qualifications and your clinical history. They want to determine that you are who you say you are, that you don't have any malpractice claims against you, that you are good providers with good references, that you are not a risk to them or to their…

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Save the Date! Medical Practice Success Summit 2020

Need a little extra boost to make your medical practice a success? Whether you’re having trouble with culture, leadership, financials, or marketing we’ve got you covered. Save the date for this one of a kind experience, this is not a conference – It is a learning summit! You will leave with a list of action items that you will be able to go back and execute so that you can take your organization to the next level. Date: March 17-19, 2020 … Location: Dallas, TX … Want to learn more? Check out the event at https://mpssummit.com/ .

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MPS Credentialing Allstars

Medical Practice Success understands the frustrating but necessary process of credentialing and health insurance enrollment required of healthcare providers when running a practice or setting up a new practice. While you could process your own paperwork or try to hire a staffer who is familiar with health insurance enrollment and credentialing, save yourself time, money, and headaches by partnering with our organization. Our Provider Enrollment specialists become part of your staff, your own in-house credentialing department, enabling you to focus on your patients rather than worrying about…

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Flu Season is Here - Are YOU Ready?

To have a successful flu season with the highest level of reimbursement, there are a few steps that you should take. The new flu injection CPT codes and payment allowable goes into effect each year on Aug. 1 for Medicare and most governmental payors. This allows vaccination efforts to begin as soon as the seasonal influenza vaccines are available. Just like any other injection, you will need to know the following NDC information to determine the correct CPT Vaccine Code to submit on your claim. • What brand will you be using for this season. • Whether the product was trivalent or…

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Is Your Front Desk Lending YOUR Money?

Patient payments are a vital part of revenue cycle management, however, when patients fail to take financial responsibility, many providers and their practices take a hard hit. Not only do statistics show that 81% of self-pay net revenues will go unrecovered but that the default rate for self-pay patients is at a rate of 30% or higher depending on the market area. This means that it can cost twice as much to collect from a patient than it does from a payer. One reason self-pay revenue goes unrecovered commonly is that the patient’s benefits and/or eligibility were not verified before the…

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Protecting Your Practice

You only have to go back about ten years to the “good old days” of being able to surf the internet without fear of your data being breached or corrupted in some manner as to make you take extra safeguards to protect it. Since 2010, when the first major ransomware threat was noted, we’ve steadily seen an increase of attacks on nearly every industry that regularly utilizes electronic data in their daily operations. In 2018, the rate of ransomware attacks totaled in excess of 850 million as reported by PhishMe, Inc and even more startling is the fact that 75% of the companies infected with…

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