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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.

The concept of omni-channel payments has been around for several years now. Many large retailers pioneered the concept to develop conveniences we use today in our everyday lives, i.e. buy-online and return in-store.

A fundamental consumer expectation in any financial transaction is being able to answer one simple question- how much will this cost? Unfortunately for the consumer, many hospitals and health care systems lack the ability to do so.

CMS (Centers for Medicare and Medicaid Services) released the MPFS (Medicare Physician Fee Schedule) Proposed Rule for the 2021 calendar year on August 4, 2020. The most significant change to specialty physicians is an 11.9 percent decrease in the Conversion Factor from $36.09 in 2020 CY to $32.36 in CY 2021.

Efforts to contain the Coronavirus has reached into many industries and caused large scale disruption which will have ramifications for months to come.

With many organizations employing a remote workforce, cyber criminals are working overtime to steal valuable company data and cripple healthcare companies when they are needed most. February saw a 21% month over month increase in data breaches, and a 231% increase in breached records – meaning that more records were breached in February than in the last three months combined.

When maintaining a healthy practice, it’s imperative to keep abreast of the inner workings of your office to ensure it’s running at optimum speed. One area that many providers lose consistent revenue is in their denials.

In 2015, Dr. Homer began searching for a billing software that could handle the number of procedures and codes that his office generated every year, he ultimately decided to go with the ImagineBillingTM platform combined with ImagineAppliance® to help automate his revenue cycle process.

Cash is king. That is not a suggestion, not a nice to have, not a cliché, it is one of many truisms in business. Cash rules. Without cash and a consistent cash flow your business is will not make it. The leading cause of business failure is running out of cash, and the leading cause of running out of cash is a lack of cash management processes.