{"id":686,"date":"2012-12-19T08:42:58","date_gmt":"2012-12-19T08:42:58","guid":{"rendered":"https:\/\/www.billingparadise.com\/blog\/?p=686"},"modified":"2018-01-04T08:40:30","modified_gmt":"2018-01-04T13:40:30","slug":"health-is-wealth-very-true-in-the-case-of-a-clinical-practice","status":"publish","type":"post","link":"https:\/\/www.billingparadise.com\/blog\/health-is-wealth-very-true-in-the-case-of-a-clinical-practice\/","title":{"rendered":"Health is Wealth &#8211; Very True in the Case of a Clinical Practice"},"content":{"rendered":"<p>We all must be familiar with the adage, <em><span style=\"color: #ff6600;\">Health is Wealth<\/span>; <\/em>ironically in today\u2019s world this can be taken at face value, more so for the healthcare industry than any individual.\u00a0 If you are a practice manager, practice administrator or stakeholder and have never considered the above concept, then we deeply regret to inform you that for all intents and purposes your practice may already be in the eye of a financial hurricane.<\/p>\n<p>Just like a human body which may harbor latent ailments in any organ system; waiting to be discovered during an annual checkup, your clinical practice may be harbouring dangerous bottom-line reducing agents in any of its manifold departments.\u00a0 Thus, unless you perform an annual checkup of your practice and take stock of the situation, these administrative ailments may very well cripple your practice, forever, financially.<\/p>\n<p><span style=\"color: #ff6600;\">The below is what we, <em>BillingParadise (<\/em><em>1-888-571-9069 or<\/em> email\u00a0 <em><span style=\"color: #ff6600;\">info@billingparadise.com<\/span><\/em>), <em>a medical billing vendor<\/em>, have been recommending that our clients do<\/span>.\u00a0 To any clinical practice manager reading this, our advice would be that you may be ignoring the below at your own financial peril.<\/p>\n<p>1.\u00a0\u00a0 Annually check contracts including those for Payer, Vendor, Equipments, and Real Estate Lease.<\/p>\n<p>2.\u00a0 <span style=\"color: #ff6600;\">Check the latest coding guidelines for the following body of codes:<\/span><\/p>\n<p>a.\u00a0 ICD &amp; CPT.<\/p>\n<p>b. HCPCS<\/p>\n<p>c. NDC.<\/p>\n<p>3.\u00a0 Staff and physician compensations.<\/p>\n<p>4.\u00a0 <span style=\"color: #ff6600;\">Check if your <span style=\"color: #ff6600;\"><strong>Revenue Cycle Management workflow<\/strong><\/span> is functional or if it is time that you start outsourcing it to a dedicated <em>medical billing company<\/em>.<\/span><\/p>\n<p><em>Au Revoir!!! <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We all must be familiar with the adage, Health is Wealth; ironically in today\u2019s world this can be taken at face value, more so for the healthcare industry than any individual.\u00a0 If you are a practice manager, practice administrator or stakeholder and have never considered the above concept, then we deeply regret to inform you [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[721],"tags":[],"class_list":["post-686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-billing-collections"],"modified_by":"Erika Regulsky","_links":{"self":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/posts\/686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/comments?post=686"}],"version-history":[{"count":0,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/posts\/686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/media\/693"}],"wp:attachment":[{"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/media?parent=686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/categories?post=686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.billingparadise.com\/blog\/wp-json\/wp\/v2\/tags?post=686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}