Is your medical practice’s denial rate above 4%? If yes, then its time you started looking closely at your processes. Without you even realizing it, things like input oversights, timing issues and manual errors could be causing denials. Here are some common reasons for your denials. Read on to find out how you can tighten your billing approach and reduce your denial rate at the same time.
1. Illegible claims
Though most payers now accept electronic claims, there may be some who would still use paper and opt for manual submissions. It is not uncommon for printed claims to be illegible and messy. This can generate problems for payers who have to scans such claims into their systems. At your end, you can ensure that your billers pay more attention to such claims and make sure of their readability before sending them to the payers.
2. Vague claims
Coding a claim to the highest level of specificity is the best way to minimize your denials. Make sure that any diagnosis is not vague and is coded to the highest level (maximum number of digits for the code that is being used). For example, if you have a four digit code that requires five numbers to be accepted, make sure that you have included all the five digits. It is also a good idea to provide your billers with appropriate education on coding.
3. Claims with missing information
If there is data missing from your claims, then you could again get a denial. Payers can notice omissions and deny claims based on missing information (the date of onset, the date of the accident or the date of the medical emergency). Make sure that all the required areas on your claim forms are filled. Next, ask your billers to check out the commonly missed fields and rectify the errors, before the claim is sent. Continue reading →
Picturesque photographs of your products, artifacts or nature, devoid of a distracting background are hard to come by, even if you have use the best of imaging equipment. At times, you just can’t avoid that ugly fence, a wandering animal, an unwanted stranger or even maybe a copper wire which you did not even realize was in the photograph. You wish you could get rid of the background and retain your otherwise perfect picture. But how will that be possible? Yes, background removal services have now made it possible to remove any disturbing object from your photographs, while retaining the beauty of your picture.
Skilled photo editing experts from India can expertly remove anything from the background of your image, be it a person, a group of people, dark spots or event the entire background itself. Through the use of photo editing tools any subject in the picture can be removed and replaced accurately. You can even get a complete remake of the background and change the background according to your choice. The possibilities of background removal services are not only attainable, but also limitless! After the background of your image has been digitally enhanced, your picture will be even better and brighter than its original. Continue reading →
Apart from your company’s internal resources and current industry factors, there are many other macro-economic elements that can have a strong impact on your company. Just before you step into a new business venture or prior to launching a new product, you will need to evaluate these factors in order to find out how they can have an impact on your success. One such tool used to analyze and assess external macro economic factors that are closely related to a specific situation is known as PEST analysis.
PEST stands for Political, Economic, Social and Technological analysis and is primarily used to assess the Political, Economic, Social and Technological factors in relation to your current business situation. By conducting a PEST analysis, you can find out how such factors will affect the activities and performance of your business in the long run. Many times, PEST analysis is used along with analysis tools like Porter’s five forces and SWOT analysis to gain a better understanding about external/internal factors.
The factors involved in PEST analysis
Political: Legal factors and government regulations are evaluated in terms of their ability to affect your trade markets or business environments. Issues such as, tax guidelines, employment laws, political stability, safety regulations and trade regulations are addressed.
Economic: By analyzing this factor, your business can find out the economic issues that may impact your company. Commonly evaluated economic factors include interest rates, economic growth, inflation, business cycle and unemployment policies.
Social: By taking into account social factors, a business can evaluate its market by understanding more about the lifestyle attitude, level of education, cultural limitations and customer demographics. Your business can determine how to shape consumer needs and how to bring these needs to the market.
Technological: This analysis can help your company get to know how negatively or positively a product/service can be impacted by technology. The role of the internet, lifecycle of technologies, advancements and the spending on technology research are some of the popularly assessed technological factors.
You have decided to outsource mortgage services to, but are unsure about finding the right service provider? What should you look for in a potential mortgage service provider? Should you go by their experience, cost, background or QA processes? Read on to find out some helpful tips while narrowing down your search for the ideal mortgage services vendor:
1. Look for experience
Before you consider a mortgage company to partner with, do ask questions about their prior experience in addressing mortgage issues. How many companies have they served? What kind of workload are they handling at present? What is the experience level of their employees? How much training is provided before the team works on a project? You may also need to find out how fluent they are mortgage terminology and mortgage processing time. Ask the vendor to provide you with a few examples of the mortgage companies they have worked with in the past and how long they have served them. Evaluating the experience level of a service provider is a good indicator of how effortlessly you will be able to transfer your mortgage processing work to the service provider.
2. Perform a background check
Conduct a background check and find out as much as you can about the mortgage service provider. Find out how long they have been in the mortgage business and if they possess a positive history of results. Verify if they can sign up with an US entity, since this will give you the ability to hold the outsourcing company accountable. Don’t only go by the testimonials or information that you see on the website, as these can be misleading. Make an effort to dig deeper and ask for reference phone numbers whom you can call. Also remember to thoroughly research their history and employment performance before you hire them. Continue reading →
Did you know that if you don’t put the needs of your visitors first, your website will not be effective? The best websites in the online world are the ones that are customer-centric and who provide information in an organized and interesting fashion. Your website should also make it easy for customers to complete whatever action they have in mind, whether it is to sign up for a newsletter, buy a product or contact you for more information. Here are 10 tried and tested tips that you can use to create killer web content and make your website successful:
Use a clear navigation: Visitors have limited patience and do not want to guess where to go. Neither do they want to analyze how your site works. Make it easy for your customers, by organizing your pages into logical categories. Include standard terms on your menu.
Employ conversational English: Write out copy that speaks directly to the customer in a friendly and informal tone, rather than corporate-talk. Use the second person like “you” and “we” whenever possible.
Avoid the use of industry jargon: Do not use phrases or words that your customers will not recognize. It is best to use familiar terminology.
Provide relevant information: People generally come to a site, looking for answers. If your site does not provide the facts, they will simply move on the next website in the search results. Research has proven that information-rich websites are the most effective in converting visitors into buyers.
Skip the hype: Visitors expect transparency and honesty from you. So make sure to place all your cards on the table and allow your visitors to come up with their own conclusions.
Turn your home page into a to-the point summary: Your home page should describe how a customer can benefit from your content, services or products in a nutshell. Otherwise your visitors will click on the back button.
Develop landing pages: Since landing pages convert at a higher rate than home pages, come up with landing pages that address specific subjects. If your customer is looking for a particular product, he/she should land on a page that is dedicated to the subject.
Use images to tell your story: Stock photos are great, but visitors want to know the real you. When it comes to products, use real photos, as visitors want to see what they are buying and from who they are buying from.
Put in contact details: Include contact information in several places, so it is easy to find. In fact, your contact details, should only be a click away, so that it is not too hard for a visitor to reach you.
Keep updating your website: If your visitors notice that your content is not current and up-to-date, then your site will lose its credibility. Continuously update your site, keeping adding to it and remove obsolete information.
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