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Top Benefits of Outsourcing Medical Billing and Coding Services in 2024

In today’s fast-evolving healthcare industry, administrative efficiency is essential. With constant regulatory updates, complex coding requirements, and the need for accuracy in patient billing, healthcare providers face mounting pressure to manage their revenue cycle effectively. Outsourcing medical billing and coding services has emerged as a powerful solution, especially in 2024, as healthcare organizations strive for […]

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Why a Decrease in Accounts Receivable (AR) is a Positive Sign for Healthcare Providers

Accounts Receivable (AR) represents outstanding payments owed to healthcare providers by patients or insurance companies. A decrease in AR typically signals efficient collection processes, indicating improved financial health. This post will cover the advantages of reduced AR, the formulas used in calculating AR, practical examples, and critical questions to deepen understanding. Detailed Notes Understanding Accounts

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How to Prevent and Resolve Medical Billing Denials

How to Prevent and Resolve Medical Billing Denials: Top 30% of Claim Issues

30% of Medical Billing Claims Are Denied? Here’s How to Tackle Common Denial Reasons and Improve Your Revenue Cycle Medical billing claim denials are a significant challenge for healthcare providers. With nearly 30% of medical claims being denied on the first submission, practices often face delays in payments, an increase in administrative workload, and a

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Billing Systems Evolve

Billing Systems Evolve—Shouldn’t Your Practice Evolve Too?

Discover How EHR Integration Can Improve Both Billing and Patient Outcomes In today’s rapidly advancing healthcare landscape, billing systems are evolving at an unprecedented pace. With the shift towards value-based care and the increasing complexity of payment models, healthcare practices are under pressure to modernize their billing systems to remain competitive and efficient. One of

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How Value-Based Care is Changing Billing

The Latest on Healthcare Payment Models: How Value-Based Care is Changing Billing

The healthcare industry is changing how payments are made. This is due to a shift from fee-for-service (FFS) models to value-based care (VBC) models. This change in payment structures is redefining how providers deliver care and bill for it. As we Diamonds Solution prioritize care quality over service quantity, healthcare is changing quickly. Let’s explore

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Top 5 Reasons Why Your Claims Get Denied

Top 5 Reasons Why Your Claims Get Denied—and What You Can Do About It!

In the complex world of medical billing, healthcare providers often face claim denials. A denied claim disrupts revenue. It requires more work and frustrates providers and patients. Understanding the common reasons why claims get denied is essential for avoiding them in the future. In this article, we will dive into the top 5 reasons your

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what info is required to confirm dental insurance

How to Verify Dental Insurance: Guide to Eligibility and Coverage

Dental practices must verify dental insurance. It ensures smooth operations, avoids financial pitfalls, and gives patients accurate info. Proper verification of eligibility and coverage prevents costly mistakes. These include disputes and recoupment of payments. This guide will help dental offices verify dental insurance. It covers the process, challenges, and best practices for compliance and financial

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Net Collection Rate

Net Collection Rate: Proven Medical Billing Strategies

Introduction to Net Collection Rate In medical billing, the **Net Collection Rate** shows how well a practice collects revenue. It’s the percentage of expected payments received, minus write-offs or discounts. Simply put, it reflects how much owed money actually gets into the practice’s accounts. Why Is the Net Collection Rate Important? A high net collection

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