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Navigating old AR and recovering denied orthopedic claims can be a challenging task for orthopedic practitioners. The American Medical Association estimates that 15% of medical claims are initially denied, resulting in a significant financial burden on healthcare providers. Denied orthopedic claims contribute to legacy AR, impacting cash flow and operational efficiency. Factors such as inaccurate billing, denials, patient balances, and complex reimbursement processes can lead to legacy AR in orthopedic practices. To address these challenges, here are 8 key strategies for revenue recovery: 1. Conduct a thorough AR analysis. 2. Improve documentation for successful claim recovery. 3. Train staff on denial management techniques. 4. Utilize advanced billing software with claims scrubbing capabilities. 5. Implement real-time eligibility verification. 6. Develop a robust denial management process. 7. Submit timely appeals for denied claims. 8. Consider outsourcing AR management for efficiency. Partnering with GSH LLC can offer benefits such as cost efficiency, streamlined claims, and optimized reimbursements. By implementing these strategies and leveraging external expertise, orthopedic practices can enhance revenue generation and financial stability. #Healthcare #Orthopedics #MedicalBilling #RevenueRecovery #providers #claims #insurance www.globalserviceshub.com

🌟 Success Story: Indianapolis Orthopedic Clinic & TrueUs RCM solutions🌟 🏥 Client: An Orthopedic Clinic with 5 physicians, facing high claim denials and under-coded procedures. Challenges: ⚠️ Over 18% claim denial rate (especially for complex fracture cases) ⚠️ Unbundling errors leading to revenue leakage ⚠️ Difficulty adapting to ICD-10, particularly laterality and injury documentation Action by TrueUs: 🔍 Comprehensive coding audit focusing on orthopedic-specific CPT and ICD-10 codes 📝 Identified missing modifiers and coding errors in 30% of claims. 💼 Implemented a streamlined denial management process to resubmit denied claims Results: 💰 $250,000 in revenue recovered in 6 months 📉 Denial rate dropped from 18% to 10% in just 3 months 📈 15% improvement in coding accuracy = higher reimbursements! At TrueUs RCM Solutions, we believe in turning challenges into opportunities for growth and success. Ready to optimize your revenue cycle? Let’s talk! #TrueUs #RevenueCycleManagement #MedicalBilling #OrthopedicSuccess #HealthcareTransformation #MedicalCoding

Does billing & payment take too long at your practice? Or, are you looking for a better way to get your entire team to work efficiently when it comes to claims, settlements, & payment? Streamline all things finance with the Revenue Cycle Management module of Foundations of Orthopedic Practice Management by AAOE. 🎯 A to Z of billing: Understand every step, from patient registration to insurance settlements 🎯 Smart claims handling: Learn about accurate claims submission and their financial impact 🎯 Help patients with ease: Navigate insurance and payment issues with empathy 🎯 Teamwork for success: Figure out how each member contributes to efficient billing & a smoother revenue cycle Sign up today! #aaoe #orthopedic #orthopediccommunity #upskill #practicemanagement #revenue #medical #profits #webinar #orthopedicpractice

Managing orthopedic billing procedures can be complex due to coding difficulty, modifier usage, multiple procedures, and more. Efficient billing ensures timely payments, reduces claim denials, and maintains financial stability for orthopedic practices. Following the best practices: - Collecting accurate patient information - Proper documentation of medical necessity - Timely claim submission - Obtain prior authorization - Implementing advanced billing software - Staying up-to-date with the orthopedic coding Will ensure to get faster reimbursements. Want to learn more in-depth? Read this blog post as we have shared the best practices (with a coding cheat sheet) that help you to get faster reimbursements. https://lnkd.in/gvHmu9MA Orthopedic Associates RCM and Medical Billing Medical Billing and EMR #billing #audit #orthopedic #doctor #healthcare #rcm #revenue #claims

Recruiting for orthopedic clinics is a unique process compared to recruiting for hospitals. The expertise required in orthopedic care demands a specialized approach when searching for the top candidates. In these clinics, applicants need to have a deep understanding of musculoskeletal conditions, surgical procedures, and post-operative rehabilitation.  This makes recruitment more complex than in a general hospital setting and significantly reduces the candidate pool. Generally, these clinics require more patient interaction, focus on treating injuries, and offer a better working environment for their staff. It is crucial to recognize the importance of focused and personalized patient care in clinical settings when looking for candidates who can offer genuine empathy and specialized care.  Understanding these subtle nuances is essential for customizing recruitment approaches to meet clinics' specific needs, and to find, hire, and retain the right individuals who can make meaningful contributions to the success of both the clinic and its patients. #HealthcareRecruitment #OrthopedicClinic #PatientCare

As the landscape of medical procedures continue to evolve, medical device companies are adapting their strategies to meet the changing demands. 👉 Discover how these companies are shifting their approaches to stay relevant in an increasingly competitive market and how the rise of ambulatory surgical centers has significantly impacted the landscape of orthopedic procedures. https://hubs.ly/Q02mhN120 #Innovation #MedDevice #ASC #MedicalDevice #MedicalEquipment

Effective #RCM brings financial health to any health organizations. Deploy right #ehr & #practicemanagement management software along with good team(may be internal or external) & well defined process. CapMinds #medicalbilling

Operational Efficiency Unlocked: Analysis reveals that incorporating Surgical First Assists into orthopedic procedures can lead to notable cost savings for hospitals and ASCs, without compromising on care quality. A closer look at how these efficiencies are achieved offers valuable insights for healthcare management. #OperationalEfficiency #HealthcareCosts

Today we are pleased to announce that Tendo and the OrthoForum Value Network (OVN) are joining forces to revolutionize orthopedic services in the employer benefits ecosystem! Tendo and OVN together will now offer seamless access to top-quality orthopedic care nationally through Tendo’s Care Connect platform. This strategic partnership opens doors for self-funded employers to tap into OVN’s vast network of 5,000 providers from 150 orthopedic groups across 45 states, covering 150 of the top 200 metro areas in the country. Tendo’s Care Connect platform, backed by a decade of shoppable healthcare experience and advanced analytics, is tailored for the employer benefits ecosystem. Employers and care navigators can now effortlessly access high-quality care and transparent pricing across OVN, the nation’s largest clinically integrated orthopedic network. Read more: bit.ly/3UnR2xO The OrthoForum Heath Kirschner, MBA #HealthcareInnovation #OrthopedicCare #EmployerBenefits #NewPartner

Does payment take too long at your practice? Or, are you looking for a better way to get your entire team to work efficiently when it comes to claims, settlements, & payment? Streamline all things finance with the Revenue Cycle Management module of Practice Management 101 by the American Alliance of Orthopaedic Executives (AAOE)! 🎯 A to Z of billing: Understand every step, from patient registration to insurance settlements 🎯 Smart claims handling: Learn about accurate claims submission and their financial impact 🎯 Help patients with ease: Navigate insurance and payment issues with empathy 🎯 Teamwork for success: Figure out how each member contributes to efficient billing & a smoother revenue cycle Sign up today: https://loom.ly/tqZChWM #aaoe #orthopedic #orthopediccommunity #upskill #practicemanagement #revenue #medical #profits #webinar #orthopedicpractice