Tiptastic Tuesday: Physician Practice Collections

Reimbursement issues can cause fluctuations in revenue while payer and contract problems can result in revenue reduction.  Look for the following elements if and when cash receipts look unusual:

  • curious charge activity in previous months
  • payments no posted regularly
  • lost claims
  • payer adjudication issues.

Remember, reports can be run from your practice management system to identify problems with a specific payer.  The sooner you find out the reason for payment delays, the sooner the problem can be resolved.

New Year’s Resolution: Improve Practice Workflow with HMS

Physician practices have become increasingly complex, with data management needs competing with patients for time and attention.  In response, physicians are seeking better, more efficient ways to manage patient data, improve revenue cycles, reduce expenditures, decrease billing errors and streamline day-to-day operations.  That’s where HMS can help.

HMS Healthcare Management Solutions offers revenue cycle improvements, practice management assistance, EHR, as well as consulting and strategic services for physician practices and other health care providers.  We will leverage our knowledge and experience and invest our resources in creating partnerships that fundamentally change how profitability and success are achieved.

HMS believes the best way to help physicians survive and thrive in the ever changing environment is to transform the underlying infrastructure with a comprehensive and flexible system that allows them to take control of their practice.  At HMS, billing and coding is our only focus.  Our investment in the latest technology coupled with an experienced, highly-trained staff will not only improve your revenue and cash flow, it will give you more time to concentrate on what matters most  – caring for your patients.

What does all this mean to your practice? The HMS medical billing team will speeds up your cash flow by reducing error in the claims process for faster reimbursements, improved consistency and increased cash flow giving you a competitive advantage over practices without our resources at their disposal. The end result is a healthy, thriving practice with long term stability.

When you partner with HMS Healthcare Management Solutions, you’re adding a trusted member to your team.  We have over 25 years of in-depth knowledge of the health care business. Many of us started out as providers, so we understand your perspective and know how frustrating it can be to cope with daunting amounts of paperwork while delivering quality care. We understand the difficulties of planning for the future when you need to focus on the here and now.  Let us help you maximize your potential by increasing your financial performance.

Contact HMS Healthcare Management Solutions today!

5010 Compliance Deadline Looms

The compliance deadline for the transition to Version 5010 is only two weeks away. Though the Centers for Medicare & Medicaid Services has announced an enforcement discretionary period of 90 days for Version 5010 compliance, the deadline remains January 1, 2012. Enforcement will not be exercised until April 1, 2012, but the transition to Version 5010 should be completed as soon as possible.  Click here for information and resources on 5010 from CMS.

HMS practice management information systems are already compliant with the HIPAA 5010.  Because of the cutting-edge technology HMS invests in, we are prepared for the change and as always, are here to assist you along the way.