Insurance Industry Trends and Changes: Keeping Your Practice Up to Date
The health insurance landscape is continually evolving, posing challenges for healthcare providers. To stay updated, practitioners should read industry news and share vital updates within their practice. It’s important to schedule regular compliance checks, both human and technology-related, to ensure adherence to standards. Staying informed about important dates and changes is essential. Implementing efficient practice management tools, like ClinicMind’s EHR and RCM software, can streamline operations and keep practices compliant in the ever-changing health insurance industry.
Creating a Fee Schedule for Your Private Practice
Creating a profitable and fair fee schedule is crucial for private practices. It should cover true service costs, not just insurance reimbursement. Align your rates with insurance provider maximums and industry standards. Ensure consistency and notify patients in advance of any fee changes. Consider your practice’s operating expenses for an accurate fee structure. ClinicMind’s EHR/RCM platform simplifies fee schedule management and practice operations.
Coding and Billing Best Practices
Medical coding and billing are essential for efficient revenue cycle management (RCM). Attention to reimbursements and accounts receivables (AR) is vital, as insurance companies often underpay. Strive to maintain a clean claims rate above 95% to avoid resubmissions and appeals. Double-check claims for accuracy to prevent insurance denials due to errors. ClinicMind’s RCM software streamlines billing and coding, reducing challenges.
ClinicMind External NewsLetter
ClinicMind has acquired Affinity Billing to expand its revenue cycle management (RCM) services. Monthly updates include scheduler customization, waiting list management, and mobile EHR enhancements. ClinicMind updates faxing service pricing for better quality. The patient portal, CareToMe, is rebranded as MyClinicMind. Affinity Billing clients will now receive invoices from ClinicMind.