Protect the Integrity of Your Revenue — Getting Back to Basics with Your Business Systems
Our weekly series of “Getting Back to Basics with Your Business Systems” is designed to help ensure you are running a profitable business. This week we will review how new payer credentialing requirements are putting more pressure on medical practices and how easily you can get behind. Read below and follow over the next few weeks as we reveal new pointers that will allow you to take an “outside” look at your business systems and encourage you to make changes if needed. nnProtect the Integrity of Your Revenue!nnProvider credentialing management is more cumbersome, technical and time intensive than ever! New payer credentialing requirements imposed more regularly (government payer vendor changes, increased monitoring of providers, etc.) is wreaking havoc on practices. Failure to meet deadlines, lack of follow up, and allowing things to fall through the cracks will create disruptions in your revenue stream, cash flow and patient care. These are unnecessary disruptions you simply cannot afford! The days of an office manager, biller, medical assistant or receptionist being able to stay on top of provider credentialing are over – you simply don’t have time to focus on it!nnDon’t get behind… Let us help! You can get started TODAY with Welter Healthcare Partners’s FREE revenue assessment. Offered with no obligation, you will receive a free revenue assessment and free follow up consultation to see where and how much you might be losing. CLICK HERE to learn more about the assessment and contact us to schedule your review!nn
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Our weekly series of “Getting Back to Basics with Your Business Systems” is designed to help ensure you are running a profitable business. This week we will review how one code variation can cost you a lot of money! Don’t leave potential money on the table… Read below and follow over the next few weeks as we reveal new pointers that will allow you to take an “outside” look at your business systems and encourage you to make changes if needed. n
Overwhelmed? It’s important to get back to the basics and we are here to help! Welter Healthcare Partners is producing a series of articles with tips to help your business thrive. We will be sharing pointers that you should consider to ensure you are running a profitable business. Over the next few weeks, new information will be released that will allow you to take an “outside” look at your business systems and encourage you to make changes if needed. nn———-nnIt is all about the money! After all, without it, you cannot provide the patient care services you currently do! While today’s healthcare landscape definitely presents obstacles it also presents a lot of opportunities. Internal business systems and patient care systems must work like a well-oiled machine for any practice to maximize profitability. The implementation of new patient care reporting requirements (i.e. MACRA, MIPS, APMs), new payment models, and other operational issues tend to demand everyone’s attention on a day to day basis. Unfortunately, too many practices are losing sight of maintaining sound business systems (the “foundation”) which can interfere with their ability to take advantage of the many opportunities out there. While providing top notch patient care and maintaining reporting requirements is at the top of everyone’s priority list, practices must regain focus on their internal business systems in order to maximize revenue and profitability, but more importantly avoid lost revenue.nnIndependent physician practices should not only survive, but thrive! It’s time to get back to basics! It’s time to work smarter, not harder!nnShow Me the Money!nnRevenue Cycle Management is the lifeline to any and all practices. Practices are hemorrhaging money due to the inability to properly manage the revenue cycle. Dirty claims, increased claims denials, delays in payments, subtle but increasingly important credentialing issues and other increased insurance “games” are wreaking havoc on the ability of practices to maintain consistent revenue and cash flow. Insurance companies are banking on the fact that with increased games (i.e. “lost” claims, records requests, inappropriate denials, etc.) and time, practices and providers will lose sight of unpaid claims (i.e. over 90 days) and therefore they don’t have to pay a penny. Failure to keep claims timely due to lack of resources and proper RCM processes and protocols results in tens of thousands of dollars in lost revenue per provider. How much money are you losing?nn nnAre you ready to learn more now? You can get started TODAY with Welter Healthcare Partners’s FREE revenue assessment. Offered with no obligation, you will receive a free revenue assessment and free follow up consultation to see where and how much you might be losing. 
Anthem (Blue Cross Blue Shield) is preparing for the fall provider seminars and we encourage you to sign up today. There will be important topics covered as we look forward and plan for 2019. 
2019 ICD-10-CM updates will soon go into effect on October 1st. These changes will impact encounters for dates of service October 1, 2018 through September 30, 2019. It is imperative that your organization has up-to-date coding resources and a keen understanding of the changes that will impact your reimbursement! The new updates can also influence your organization’s MACRA quality reporting scores.nnThis year’s ICD-10-CM updates include 473 code changes (279 new codes, 51 deleted codes, and 143 code revisions).nnHere are notable highlights of the 2019 updates:n