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Tag: billing tips

Revenue Cycle Management: Medical Billing Vs. Accounting

Your holistic practice’s longevity and financial success depends on how efficiently and effectively you can manage your revenue cycle. Without ensuring this key component of your strategy is running smoothly, you’ll be struggling to keep your practice in the green. A comprehensive revenue cycle management strategy can really transform your holistic practice and help chart […]

How SOAP Notes Reduce Patient Risk

Paperwork is often credited with causing headaches, not reducing harm or actually helping anyone. So, while it might seem counterintuitive to connect medical documentation to increased patient outcomes, SOAP notes are a standalone example of how that connection is real. This type of medical documentation–short for Subjective, Objective, Assessment, and Plan–is an essential component of […]

How Rejected Claims Impact Your Practice (+ How to Minimize Them)

The healthcare revenue cycle is fraught with various moving parts and pieces that can throw a wrench in your financial performance; one such example is that of rejected claims, which can delay your payment for services rendered, cause extra stress, and result in lower financial performance for your holistic practice. The ideal metric for tracking […]

Your Guide to The No Surprises Act: New Healthcare Billing Legislation

Healthcare legislation can be tricky to navigate, especially when you’ve got a million other things on your plate. However, it’s still essential to keep up with because it can impact your holistic practice, healthcare revenue cycle, and patients. One recent example is the No Surprises Act, which affects you, your patients, and your revenue cycle. […]

Gross Collection Ratio vs Net Collection Ratio: Understanding These Financial KPIs

Your holistic practice’s success and longevity within your community are predicated upon a streamlined healthcare revenue cycle—part of that comes from understanding a couple of key financial metrics that you can use to evaluate your practice’s current performance! Being able to calculate and track the financial key performance indicators, known as KPIs, of your holistic […]

Medicare Billing: 3 Tips For Your Holistic Practice

If you’re on the fence about opening up your practice to patients covered by Medicare, but you’re dubious of the extra workload dealing with billing Medicare for services rendered, then you’ve come to the right place. Expanding your pool of patients to include those covered by Medicare is limited depending on your specialty—primarily acupuncture or […]

How to Avoid Claim Denials as a Holistic Practice

Your holistic practice’s health insurance denial rates are some of the most significant indicators of your medical billing success. Unfortunately, they’re also one of the most difficult elements of your billing operation to improve. If you’re not paying close attention to your insurance claim denials rate, you’re jeopardizing the financial stability of your practice. By […]

Common Acupuncture Billing Terms

Medical billing and coding is a complicated, but necessary, process for both medical and holistic practices looking to be reimbursed for services. However, the world of medical billing processes can become rather complicated very quickly, with people throwing around a lot of technical terms that holistic practices may not be accustomed to hearing or dealing […]

Tips for Auditing Medical Records Successfully (+ Checklist)

While a medical record audit is a lengthy process, it’s a necessary one to ensure your practice is as efficient, organized, and profitable as possible. Clinical documentation in medical records is crucial to delivering the most accurate care to patients, and disorganized medical records can easily hinder this. With medical record auditing, your holistic practice […]

What is the Medical Credentialing Approval Process for Holistic Practices?

As a holistic practice, you want to deliver the best treatments of holistic medicine to your patients - while also ensuring you are paid! To service your patients and grow your holistic business, however, you will want to consider provider credentialing as an in-network provider to bill insurance plans. To be approved, you must meet […]

Does Medicare Cover Acupuncture? All About Medicare Acupuncture Coverage

On January 21st, 2020, the Centers for Medicare and Medicaid Services (CMS) announced their decision to cover acupuncture for chronic low back pain. This is defined as localized pain in the lower back that persists for more than three months. The decision was momentous because it marked the first time acupuncture services could be reimbursed […]

Best Practices for Calculating Billable Units for Your Acupuncture Practice

Operating a successful acupuncture practice can be a rewarding and worthwhile endeavor that makes a real difference in the lives of patients. Unfortunately, it can also be quite a challenge thanks to confusion over how to bill for services effectively. The ins and outs of medical coding are complex and even a minor error can […]

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