When a recession or an economic slowdown occurs, markets become unstable, leading investors to sell stocks. While some industries are very susceptive to economic changes, other industries perform well regardless of what’s happening with the economy. And according to two different reliable sources, as they
Billing a patient for any medical service can get a little complicated. Plus, not all patients can afford to pay the entire bill in full. And then there’s the paperwork. With laws like the Health Insurance Portability and Accountability Act of 1996 (HIPAA). Knowing which
Here’s a list of some Medical Billing Terms you can easily learn to get yourself familiar with the industry. A Account – Your charges for a medical visit. Account Number – Number your doctor or hospital gives you for a medical visit. Actual Charge – The amount of
Medical billing in the United States can seem like a highly convoluted process. According to a 2016 public opinion survey conducted by Copatient, around 72% of American consumers are confused by their medical bills, and 94% of consumers have received a medical bill they considered to
Medical billing and coding are the backbones of the healthcare revenue cycle, ensuring payers and patients reimburse providers for services rendered. Medical billing and coding translate a patient encounter into the languages used for claims submission and reimbursement. Billing and coding are separate processes, but
The medical billing industry has been steadily growing over the last five years. According to IBIS World, the industry has seen an average of 3.1% growth to $4.3 billion from 2015-2020. While many sources have said that the industry took a minor hit in 2020 due to
Building your own business from the ground up is an exciting opportunity, but it can also be challenging. Starting up a business involves planning, making critical financial decisions, and completing a series of legal activities. Scroll down to learn about the steps that might help
The financial success of your practice can’t be evaluated through cash flow alone—it’s just one of several vital factors. Use this article as your guide to easily digest and better understand how to measure your practice’s financial health. You’ll learn in this article more on
A successful healthcare revenue cycle management system can help hospitals streamline administrative and clinical tasks. In simple terms, healthcare organizations must stay in the black and maintain profitability to succeed at healthcare revenue cycle management. Let’s show you how to maximize the revenue cycle and
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