ImagineSoftware Medical Billing Blog

Cybersecurity Realities

American security consultant and former con man Frank Abagnale once said, “Technology breeds crime and we are constantly trying to develop technology to stay one step ahead of the person trying to use it negatively.” The average cyberattack for a small healthcare provider can cost upwards of $1 million in recovery. Download white paper, "Healthcare, Cybersecurity, and You." Unfortunately, cybercrime is constantly evolving, and you need to be doing all you…
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Cyber-Security: Are You the Weakest Link?

Cyber and ransomware attacks are on the rise as criminals are finding more ways to infiltrate companies that house critical demographic and financial information. It’s important to determine where your weakest links are in your cyber defense system and how you can fortify your infrastructure to guard yourself from these types of attacks. How can you put a stop to these crimes and ensure your healthcare information stays safe? The…
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Automation and Your Practice

Automating your business can be a daunting task for any healthcare organization, especially when you are established in your systems and operations. But when your business reaches the point of growth expansion, how do you attain your business goals while expanding your practice? Today we’re talking with Kyle Hart, ImagineSoftware’s VP of Integration Success, to see how automation can benefit your practice. Gain efficiency in every step of the revenue…
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Improving Accounts Receivable with Automation

More Americans are covered by high deductible health care plans than ever before, with the total crossing over 40%, this now means that the weight of responsibility for payment now rests on the shoulders of your patients which can sometimes prove unreliable. Is your Accounts Receivable department armed with the tools they need to be effective in this new landscape? Billing offices and practices can save an average of $3.60…
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3 Steps to Reduce Patient Data Waste

Inadequate patient matching and duplicate record creation is an increasingly complex and expensive issue that many healthcare organizations face. As healthcare shifts from a service based to a value-based model it has become more important than ever to capture patient data correctly to ensure accuracy and eliminate duplicate records. Gain efficiency through every step of the healthcare revenue cycle with ImagineSoftware's RCM solutions. When patients are identified incorrectly it not…
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Reducing Denials and Increasing Patient Care

With denials rising in frequency every year, it’s important to understand where denials are coming from and how they impact your patient experience. Administrative expenses for hospitals, medical practices and health agencies are approaching $360 billion dollars a year – most of which is billing related. The typical cost of reworking a denial is $25 per claim which totals about $4500 a year if you are processing 15 denied claims…
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Creating Practice-Patient Loyalty

With the new mandates imposed by CMS, healthcare organizations will be required to post their negotiated rates in an easily identified, consumer friendly format. Is your practice prepared for the change? Imagine a future in which consumers are empowered with more options for managing their healthcare costs. What Drives Patient Loyalty? “The cost of care for medical services can vary significantly across health care providers,” Tom Meier, vice president of…
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Maximizing Patient Collections

It’s a challenge that gets more complex every year—how to cost-effectively address patient collections, whether they are true self pay or pay after insurance has been applied.  The increasing cost of health insurance has resulted in the proliferation of high-deductible plans as an option to lower premiums; this has resulted in increased patient responsibility which has ballooned the least efficient financial class.  Fortunately, there’s also more technology than ever to…
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Improving the Patient Financial Journey

In the new landscape of value-based healthcare, the patient is quickly becoming a consumer of healthcare services rather than just a recipient. As the popularity of high deductible health care plans rise patient pay responsibilities increase, along with the bad debt for medical practices. Billing offices and practices can save an average of $3.60 per eligibility check and benefits verification by switching to an automated system.   “The cost of…
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Cultivating a Revenue Cycle Success Mindset

Using a flexible revenue cycle solution that can manage the current range of payment models (such as bundled payments, VBP, MACRA, CPC, etc.) and account for any issues that might come along is key for revenue cycle success. Through collaboration with an innovative partner, your revenue cycle can deliver financial predictability that will stop revenue leakage and increase productivity. Gain efficiency through every step of the healthcare revenue cycle with…
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Using Analytic Solutions to Fix Revenue Cycle Weakness

As healthcare continues to move from fee-based services to value based services we must understand the total cost associated with caring for individuals and communities. Our goal is to help you deliver quality care that is aimed at achieving the best possible health and realizing financial results driven by exceptional patient outcome. Below is a brief overview of how revenue cycle analytics can help fix those gaps in your revenue…
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A Beginner’s Guide to Electronic Claims Processing

Innovations like electronic claims and electronic healthcare records are the start of a revolution in healthcare; one that promises to dramatically simplify the way billing offices, practices and hospitals get paid. In this article, we will cover a brief definition of electronic claims, why they are important to the medical billing industry, and ways you can adopt this new technology for the betterment of your patients and your practice. Reduce…
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