As you likely already know, running a financially successful anesthesia practice takes more than just delivering excellent patient care. The financial side of your practice requires billing accuracy, strong reimbursement processes, scheduling efficiency, and smart technology use. Without careful management, anesthesia revenue can slip through the cracks, affecting both your profitability and the ability to […]
Here are common anesthesia billing mistakes to avoid if you want to maximize your revenue and save your bottom line.
In July, the Medicare sequestration rate rose back to 2%. Here is what you need to know about the Medicare sequestration cuts and their impact on your anesthesia practice.
It can be difficult to decide which billing option is better for your practice: in-house or outsourced. To help with this decision, ask yourself some questions. Which option gives you the most comfort with the process? Which option gives you the best ROI? To answer this, let’s ask some questions about your practice. What is […]
There are no do-overs in coding and billing for anesthesia services. You get one chance, and you have to get it right. Close only counts in horseshoes and hand grenades, as they say. The cost of incorrect documentation can be high - both in lost reimbursement and in non-compliance. You also can’t rely on someone […]
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.” Charles Darwin said this about the natural world, but it’s a truism that could also apply to healthcare revenue cycle management in 2021. Changes to protocols and standards happen […]
Anesthesia care and billing doesn’t fall on a spectrum from “easy to hard” in terms of levels of care. In fact, it’s a diverse Venn diagram of interactions between existing conditions, procedures, modifiers, and services. The distinctions on this Venn diagram become very important, however, when it comes time to reimburse for these complex types […]
Each year provides new challenges and lessons, but these also lead to many opportunities for positive change. As you plan for the future, one thing you should ask yourself is, “Am I getting the results I want from my vendors?” That is certainly true for those who work with medical billing companies. If you have […]
By Joe Gribbin, Sr. Hospital and facility administrators are often unaware of how much revenue is unrecognized when they bill anesthesia incorrectly. This can be the case whether they manage anesthesia in-house or contract with an anesthesia group. I spent 12 years as a hospital administrator before starting MBM, so I’ve seen how missed revenue […]
by Joe Gribbin, Sr. Facility administrators have to make countless decisions regarding employing, contracting, compensating, and managing anesthesiologists and CRNAs, and these decisions have a significant impact on the bottom line. I spent 12 years working as a hospital administrator before starting MBM, so I understand these challenges. By understanding the types of relationships your […]
