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What is Patient Pre-Registration?

Patient pre-registration is one of the first crucial step in the revenue management cycle. With new patients or updated information of existing patients, your practice needs to reflect everyone's insurance plans and medical information in your records. Therefore, it is extremely important to keep an up-to-date record in your system. What [...]

What Is An Explanation of Benefits?

What is an EOB?   An EOB, or Explanation of Benefits, is a report from the insurance payor with their decision on the insurance claim. It contains important information such as the procedure billed and the amount paid. You will typically receive this 30-45 days after submitting a claim. Different insurance [...]

5 More Medical Billing Terms Explained

  Previously, we wrote about some common medical billing terms needed for your practice. Next, we have put together a few more medical billing terms that may help you in medical billing. Revenue Cycle Management (RCM) Revenue Cycle Management is the process of regulating your practice’s revenue cycle. From the moment [...]

Managing Your Healthcare Practice’s Working Capital

  Working Capital Management Research into hospitals’ finances and performance show that there is indeed a correlation. Finances are an important part of medical practices and working capital just one measure of financial health that is important to focus on. What is Working Capital? In a previous post, we talked about [...]

Working Capital and Your Healthcare Practice

  What is Working Capital?   Working capital, or net working capital, is one measure of an organization’s financial health. The following is the net working capital formula: Current Assets – Current Liabilities = Net Working Capital In this definition, current assets include items such as cash, accounts receivables, or inventory [...]

Telehealth & Medical Billing

Telehealth & Medical Billing   When the COVID-19 pandemic started, social distancing was (and still is) recommended to combat the virus. For healthcare practitioners, this meant some adopted telehealth practices. What Is Telehealth? Telehealth, telemedicine, virtual practice are all terms describing conducting your routine healthcare activities electronically and remotely. From speaking [...]

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