HMOs vs PPOs
As the owner of a new or growing medical practice, it’s important to have a strong understanding of your patient’s health insurance options. The vast majority of your patients will be enrolled in either an HMO or a PPO medical insurance plan. Understanding the differences between these two types of insurance will help you and […]
What is Fraud Investigation?
Fraud investigation occurs when a state or Federal agency suspects a medical practice of making fraudulent mistakes in their Medicare and Medicaid billing. A fraud investigator can be hired by a private company, the FBI, or the IRS to investigate possible fraud in your practice. Fraudulent claims and patterns of erroneous medical coding are likely […]
Overhead Business Expenses
If you are in solo practice, this type of insurance is especially important to have. If you were injured or became ill tomorrow,
In-House Doctor Credentialing VS. Outsourcing
There are many areas of your healthcare practice that can be taken care of in-house. Many medical professionals choose to have their billing, coding, and transcription services taken care of on-site. While not as cost-effective as outsourcing, hiring a dedicated staff member to help you with these duties is convenient and can save time. So […]
Doctor Credentialing With Hospitals And Insurance Companies
When Hospitals And Insurance Companies Want To Work With A Physician, They Must Engage In A Process Known As Doctor Credentialing. Doctor Credentialing Helps Hospitals And Insurance Companies Choose The Best Doctors With Whom They’d Like To Work. During The Credentialing Process, Experienced Investigators Dig Deep Into The Physician’s History, Acting As Medical Detectives. Hospitals […]
Must-Have Medical Doctors Insurance
Making sure your medical practice is properly insured will protect you and your business from unforeseen events. Having proper insurance coverage protects you and your assets in the event of a lawsuit or malpractice suit. That’s why it is so important to choose the right insurance for your practice. Medical malpractice insurance will protect you […]
What is Medicare, Medicaid, etc?
In addition to accepting private insurance from your patients, your practice may also want to accept government-sponsored medical insurance such as Medicare and Medicaid. The two programs cover very different populations, so it’s important to understand the differences between them. Medicare offers medical insurance coverage to individuals age 65 and older as well as individuals […]
Life Insurance
Life insurance is not just one more expense to add to the many expenses of running your own medical practice. It’s also not just a way to protect your family in the event of your passing. Instead, life insurance has recently become a financially sound way to protect your assets. In other words, life insurance […]
In-House Medical Transcription Vs Outsourcing
You know your medical practice needs medical transcriptions as part of its daily operations. Medical transcriptions allow physicians to verbally record notes and patient procedures and have those recording transcribed into electronic format. But should medical transcriptions be performed in-house or outsourced to a medical transcription company? There are pros and cons to each approach. […]