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Claim Adjustment Group Codes In the healthcare industry, Claim Adjustment Group (CAG) codes serve as a standardized system of categorizing and identifying the various reasons why insurance claims have been denied or adjusted. These codes are used by insurance companies and providers to communicate the reasoning behind the adjustments made to a claim. There are … Read more
The revenue cycle management of the OB/GYN practices needs to be carefully monitored for reliable outcomes. Getting full payments on time is the main financial goal of every practice. Similarly, OB/GYN medical practices should focus on optimizing the billing process for getting timely reimbursements. In addition, there are risks of losing potential revenue in the … Read more
Medical billing is a crucial component of the healthcare industry, which involves the billing and reimbursement process for medical services provided to patients. The process involves several steps that must be performed accurately and efficiently to ensure the timely payment of healthcare providers. Medical billing is a complex process that requires specialized knowledge in medical … Read more
EOB means Explanation of Benefits. An Explanation of Benefits (EOB) is NOT a bill. It is a summary sent by a health insurance company every time a patient receives treatment from a medical professional. It outlines the dates and types of treatment received, and the costs the insurance company will pay. Insurance companies send information … Read more
Medical billing is a also a very important part of Revenue Cycle Management (RCM). The Medical bill is the chief important document for the payment from the payer. The medical billing part includes lot of terminologies which needs to be understood by everyone. These important terms will help you clear give more information about medical … Read more
The main backbone of hospital’s or clinic’s business is Revenue. Medical Revenue Services play an an important role here. Services include the revenue cycle management, medical billing, charge capture etc. These services help in smooth operation of these hospitals. These services are now mainly handled using software programs specifically designed for hospitals to manage all … Read more
Basics for Revenue codes Their are specific revenues codes assigned to different section of medical facility or department, which have a specific set of procedure codes or CPT codes. These revenue codes are very helpful for medical billing. The medical coders and billing professional will we very much aware of the revenue codes. Below are … Read more
Revenue leakages and medical billing in the healthcare industry can lead to significant losses due to long payment cycles. These involve the right medical coding insertion, medical billing process, and increasing claims for payers to get reimbursed on time. Some notable loopholes must be tracked to provide stability to your healthcare business and ensure a … Read more
Basics of Contractual Adjustment A Contractual Adjustment is a part of a patient’s bill that a doctor or hospital must write-off (not charge for) because of billing agreements with the insurance company. Adjustments, or write-off’s, are the dollars that are adjusted off a patient account for any reason. The Contractual Adjustment is the most common … Read more