Revenue Cycle Matters

Turning Revenue into Cash: The Importance of AR Follow-up and Timely Filing

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In the intricate landscape of healthcare, managing the revenue cycle and reimbursement is a constant challenge for practices. Timely filing of claims and timely AR follow-up is a pivotal aspect that directly impacts cash flow. Failure to adhere to timely filing limits and appeal deadlines set by different payors can lead to significant financial losses […]

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One Size Doesn’t Fit All: Customizing a Financial Plan for Your Healthcare Practice

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In the dynamic landscape of healthcare, managing the financial health of your medical practice is paramount for sustainable growth and effective patient care. Legacy Consulting Services has the proven expertise to provide customized solutions to navigate revenue cycle management.  The Challenge for Revenue Cycle Management Healthcare practices face many challenges in maintaining robust financial health.

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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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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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