The payment posting process in the medical billing cycle is not always done correctly but it is an important step. Click the link to learn more.
"Most medical practices deal with a large number of claims every day, and if they're not accurate, more time is required to fix the problems, which means, the longer it takes to get paid. Oftentimes, practices are saddled with a backlog of payments to post, or they lack electronic remittance advice (ERA) file enrollments and do not have clear insights into why claims are getting denied.
This is where payment posting comes in. By having a strong process in place, practices can identify payer problems – such as medical necessity denials, services that are not covered or when prior authorization is required – from the start. These issues can then be quickly addressed before they delay care or result in costly billing mistakes. It can also help with reconciling data from explanation of benefits (EOBs) and ERAs to ensure it matches actual payments."
Considering adding remote patient monitoring at your medical practice? Here are essential things to know first.
"RPM uses information technology to transmit patient-generated health data gathered outside the clinical setting to the patient’s health care team so they can make assessments about the patient’s progress, and if necessary, intervene to make treatment adjustments aimed at improving outcomes. Used most effectively, RPM has the potential to help health care professionals (HCPs) care for millions of Americans with manageable chronic diseases, such as diabetes, obesity, and hypertension. In fact, it’s a win-win care strategy that’s beneficial for patients, HCPs, payors, and healthcare systems."