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Revenue Issues MCR Doctors Face

EMR Billing Solutions is here to address billing issues that some MCR doctors face.

There have been numerous adjustments over the last 10 years, including the freeze on the accumulated 27% in 2013.  Despite the numerous attempts to improve revenue for MCR physicians, Medicare fees still do not cover enough of the expenses that physicians must cover.

For example, during the first quarter, and depending on the annual deductible and patient situation, physicians may face up to 60 days without payments, or the correct amount owed.  Therefore, MCR physicians are constantly trying to reduce their costs to make up for the revenue losses due to Medicare and Medicaid.

Did you know that Medicare requires physicians to comply with program requirements that may cause them to lose from .05% to .2% of their payment?  MCR Physicians also face numerous auditing programs that insure they adhere to HIPAA.  MCR Physicians continue to endure new rules, regulations, audits, and inspections.  However, why do they continue to be MCR physicians?  Because of their devotion to patient care and their responsibility as doctors, they understand the risks and revenue issues, and consequently continue to care for MCR patients.

In addition, Medicare does not pay for annual physicals, that patients may not be aware of when they go to see their doctor. Most often, MCR patient care requires more time with a physician and also negatively affects revenue overtime. However, Patient Portals have efficiently proven to save time and improve communications with patients regarding their health.

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Cash Flow Drives Success for Medical Practices!

EMR Billing Solutions understands the importance of cash flow for small medical practices. Since maintaining a positive cash flow is a challenge, we will address possible cash flow challenges, and ways to improve cash flow within your practice.

The majority of cash flow challenges revolve around Medical Reimbursement rules, and complex Coding trends. As the days pass, Accounts Receivables must wait for financial responsibility to shift from high-deductible health plans to patients. Medical Practice debt continues to rise due to uninsured patients; changing regulations and insurance consolidations may also have negative effects on revenue.

Strategies for Cash Flow Improvements:

  • Maintain a cautious oversight of your practice’s core business strategies
  • Collect all copayments and balances at the time of service, increase security through internal controls to prevent fraud and cash leakages, and improve transfer efficiency with your chosen bank -they may offer cash management tools, remote deposits, image-based lockbox services, EFTs, online bill payments, and so on
  • Analyze your cash flow and physician income distribution to double check that payroll is covered each month
  • Improve care coordination and patient access within your medical practice
  • Optimize your practice’s resources by balancing patient demand and provider supply
  • Evaluate your fee schedule maintenance, and be aware of changes in healthcare reimbursements
  • Propose revenue cycle management and establish a baseline for cash flow with insurance payers
  • Complete insurance verification before a patient’s appointment to inform them of payment requirements
  • Instill denial prevention by identifying and fixing errors before your practice submits claims to insurance payers
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