Consulting Services

Credentialing

Are the Complexities and Challenges of Provider Credentialing Getting any Easier?

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As unfortunate as it is, the answer to this question is “Not really.”  While many payors have moved to electronic applications and email follow-ups, there are still numerous complexities. In addition, it is still a very time-consuming process.  Most practices and providers underestimate the criticality of onboarding and credentialing providers as quickly as possible for …

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Lean Strategies

What is LEAN and how does it apply to a healthcare practice?

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Implementing Lean principles in healthcare practices can lead to increased efficiency, reduced waste, improved patient satisfaction, and better healthcare outcomes. Lean principles are derived from the manufacturing sector, and are highly adaptable to healthcare settings. At Legacy Consulting, we thrive on assisting healthcare groups with being more effective and efficient utilizing improved work processes, technology …

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Medical Billing Trends and How to Resolve Medical Billing Challenges

2023 Billing Trends – Resolution to Common Medical Billing Challenges

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Medical Billing Trends in 2023 and How to Resolve Common Medical Billing Challenges There is a continued shift to value-based care models – There will likely be an ongoing move away from traditional fee-for-service models and towards value-based arrangements like accountable care organizations (ACOs) that prioritize quality and outcomes. This impacts how providers are reimbursed. …

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Billing Integrity AUdit

Why a Billing Integrity Audit is Critical for your Practice?

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A medical billing integrity audit is a comprehensive examination and evaluation of a healthcare provider’s billing practices to ensure compliance with relevant regulations, guidelines, and industry standards. The purpose of such an audit is to verify the accuracy, appropriateness, and completeness of medical billing and coding procedures. This type of audit is crucial for healthcare …

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Physicians struggling with changing healthcare landscape

Why Physicians are Struggling to Make Money in Today’s Healthcare Landscape

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The Big Question:  Why are physician practices  struggling to make money and dealing with burnout in today’s healthcare landscape? There are numerous reasons why, but these are the top five Legacy Consulting Services sees on a regular basis. Increasing Costs: Healthcare costs are rising at a faster rate than inflation, and physician practices are facing …

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How to Manage Payor Contracts Like a Pro

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By Donna White, Principal Consultant and Owner of Legacy Consulting Services and Legacy Billing Solutions in Montgomery, Alabama. Managing payor contracts can be a significant challenge for healthcare providers. It’s one of the more common areas the Legacy Consulting Services team sees providers may be losing money. Here are some common issues providers may encounter …

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5 Keys to Effectively Managing Your Accounts Receivable

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Is your practice getting paid timely and accurately? A growing Accounts Receivable (AR) has a significant impact on the cash flow and profitability of your business. Let’s discuss 5 keys to effectively managing Accounts Receivable. 1. Over-the-Counter Collections Here’s a simple way to ensure patient payments: collect from patients at the time of service. The …

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2023 Health Care Policies That May Surprise You

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New year, new health care policies, and Legacy Consulting Services has team members on stand-by to help you navigate it all. In December, lawmakers passed a massive $1.7 trillion spending package that included a 2 percent cut in Medicare payment for physicians. The new law – called the Consolidated Appropriations Act of 2023 – also …

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Denials Management

How do Denials Impact my Reimbursement?

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Denials impact reimbursement by delayed cash flow, increased accounts receivable days and increased cost to rework the claims.  Knowing the volume of denials and the denial reasons is an important step towards improving the denials process.  Understaffed or high turnover in-house billing teams find it challenging to fit denial management work into their regular workflow.  …

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Denials: The Growing Concern

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Denials are a fact of life for every medical practice. From demographic errors to medical necessity, denials come in easy to fix solutions and time-consuming levels of appeal. A recent article from the Healthcare Finance News website (http://www.healthcarefinancenews.com/news/denials-still-major-risk-revenue-cycle-departments-despite-build-out) noted that hospitals in particular “wrote off as uncollectable 90% more denials than 6 years ago.” The …

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