The field of medical coding is one of the most critical and complex areas in the healthcare industry. Accurate coding is essential for several reasons, including ensuring proper reimbursement for healthcare providers, facilitating efficient revenue cycle management, and maintaining compliance with federal and state regulations. However, despite its importance, medical coding can be a challenging […]
Fast Healthcare Interoperability Resources (FHIR) is a revolutionary new standard for exchanging healthcare information electronically. Health Level Seven International (HL7) developed FHIR. It is designed to make it easier for healthcare systems to share data through Fast Healthcare Interoperability Resources. Fast Healthcare Interoperability Resources also aims to improve the quality of care for patients. This […]
Managing the financial aspects of patient care is known as revenue cycle management (RCM). It is a crucial part of the healthcare sector. RCM aims to make sure that healthcare providers are promptly and effectively compensated for the services they render. Patient registration, appointment scheduling, claims submission, payment processing, and patient billing are just a […]
Technology can play a significant role in improving the patient’s financial experience in the healthcare industry. It can provide patients with easy access to their healthcare facilities, medical billing, insurance for making payments, and a simple process for healthcare organizations. Additionally, they can offer patients personalized cost estimates and financial assistance options, helping to reduce […]
Healthcare Fraud, According to NHCAA financial loss due to healthcare fraud is billions of dollars. Approximately 3% of total health care expenditures, while some government and law enforcement agencies place the loss as high as 10% of our annual health outlay. Fraud in Revenue Cycle Management (RCM fraud) is a significant concern for healthcare providers […]