Competition is widespread in today’s world, especially online. Frankly, it takes a lot to make an impact in a market where there are 24 million or more eCommerce websites competing for customer attention. Providing a thoughtfully planned and unique user experience thus becomes essential for any business. In addition, you as a business leader ... 
Growing your team with the right people is crucial because of the effort and value they add to project and client management. The success of your business relies on good employees, including (and especially) accountants. Treating employees with the utmost respect and giving them the best workplace would allow them to improve their productivity. ... 
Using robust, fool-proof revenue cycle management (RCM) practices can help ensure HME, and DME providers consistently stay profitable and growth-oriented. Yet, effective revenue cycle management demands an in-depth evaluation of documents. This includes a close look at insurance eligibility so that claims are never delayed or rejected. RCM and medical billing are critical to ... 
These days, businesses need to work harder than ever to ensure continuous sustainability and profitability. Therefore, an all-hands-on-deck approach is critical for seamless operations and to ensure timely deliverables. Furthermore, as individuals work on more innovative devices, work is no longer limited to the office workplace. A pre-Covid CBS news report reveals that around ... 
Digital transformation and the speed at which businesses across diverse industries have adopted technologies have matched and accelerated the growing need for seamless communication between businesses and their customers. According to a FinancesOnline report, the top benefits of adopting a digital business model include: Improving operational efficiency (40%) Meeting evolving customer expectations (35%) In ... 
There are many challenges that can set back businesses that are transitioning to the cloud, including high costs, low ROI, compromised security, and new vulnerabilities. According to a report, one in three cloud migrations fails, while only 25 percent of businesses meet migration deadlines. The consequences of a poorly planned transition can include businesses ... 
Examples of medical equipment include hospital beds, oxygen and breathing apparatuses, wheelchairs, and machines that can measure blood pressure. Both durable medical equipment (DME) and home medical equipment (HME) providers typically deal with the process of selling and renting medical equipment. Although there aren’t too many differences between DME billing and HME billing, some ... 
Businesses are not always easy to start; most startups begin as simply a dream. The U.S. Small Business Administration website details the process of building a business from the planning stage. However, there is no easy solution to ensure business survival and success. No matter what, the passion that helped a business begin is ... 
The earliest forms of accounting date back to ancient Mesopotamia. In those times, ruling leaders trusted and highly regarded individuals who oversaw financial matters. Today, accounting is a significant field with millions of CPAs in the world and a shift to the customer experience. Nowadays, individuals who pay for a service want the best ... 
Protecting your personal and business data is essential in today’s technology-driven world. It does not come as a surprise that most of the products and services we utilize today are embedded with high-end security measures. Therefore, cybersecurity companies constantly work behind the scenes on security patches to improve protection of confidential and otherwise sensitive ... 
Are you overworked due to the increasing demands of your business? Managing clients, practice management, and business development demand tremendous work and time. These challenges can hinder the growth of your business and potentially cause you to lose business to competitors. To streamline business demands and work towards increasing revenue in the current market, ... 
As businesses shift toward working digitally in many industries, the need for robust IT security is now stronger than ever. According to a 2021 online report from AI-powered IT security firm Sophos, cyberattacks are becoming more and more sophisticated these days. Many organizations find such attacks too advanced for their IT teams to handle ... 
As technology and the economic landscape continue to change rapidly, businesses can no longer afford to overlook the advantages of a digital environment. Understanding the advantages of adopting digital operations is key to ensuring ongoing business success. Optimized digitization can help businesses effectively manage and resolve complex challenges and add value to their deliverables. ... 
Construction projects are excellent examples of projects that require collaboration for successful execution. A Finances Online report illustrates how, aside from construction laborers, the US construction industry also employs carpenters, electricians, plumbers, painters, and paper hangers. Without robust collaboration among all teams, the likelihood of reduced errors and costs is slim. The same applies ... 
According to an online report by Research and Markets, the global medical billing outsourcing market is projected to grow at a compound annual growth rate of more than 10 percent over a forecast period of 2020-2027. The report also noted some emerging trends, including the rising use of IT resources in the healthcare sector. ... 
In today’s world, running a successful accounting firm is a challenge indeed. It is about empowering employee resources, optimizing the latest accounting technology, and allowing your internal team to focus on lucrative tasks. Such practices help you provide comprehensive solutions to clients like business evaluation, financial management, and tax planning. Additionally, accounting processes are ... 
The three most important factors for keeping books up to date and clean are organization, consistency, and reconciliation. Managing and recording each transaction into correct accounts and books daily helps reduce the workload when reviewing your books. Likewise, regular bank reconciliation helps you crosscheck transactions and catch any mistakes quickly. This gives you a ... 
Staying updated with industry trends is crucial for growing a business and providing exceptional services to clients. Understanding market demands and needs can improve your products and services and retain existing customers. To stay informed about evolving trends in the accounting industry, you should invest some time in research and development. The latest technology ... 
Given that the consequences of the pandemic are still relevant, businesses across industries are looking at different ways to ensure sustainability over prolonged periods of economic uncertainty. The year 2020 saw businesses adapting to technology at an unprecedented pace across diverse industries. Accounting as a function has been gradually adapted to technological advances over ... 
Sometimes, you may feel like your business’s management team or other leadership teams cannot meet current market demands. Consequently, you may consider expanding your team to help your existing business grow. However, team expansion doesn’t necessarily have to be expensive in order to yield positive results. Adding resources to the team is always beneficial. ... 
Cloud accounting offers the flexibility of working from anywhere and staying connected with businesses on a 24/7 basis. In other words, with cloud technology, you can access business functions from a remote location to complete day-to-day tasks. Your entire practice can be set up on a cloud-based infrastructure to optimize productivity. Accounting business owners ... 
Durable medical equipment (DME) providers often wait for service reimbursement, affecting the revenue cycle. Several factors affect the revenue collection process: calculations, documentation, manual errors, and other delays in filing claims, among others. Considering low reimbursements, attrition, and other industry factors, DMEs must focus on improving the DME billing process. Increased efficiency will help ... 
Financial accounting is essential for any business and often involves tedious tasks. Accounting and bookkeeping, financial reporting, and tax filing should be set precisely to execute projects seamlessly. Developing a process helps eliminate errors and gives you enough time to focus on crucial tasks such as business development. Nevertheless, managing projects help you set ... 
Today, we live in a world where technology comes to our aid for nearly every need. The latest technologies help facilitate the process of automating regular tasks and improving users’ overall standards of living. The impact of technology is widespread and significantly impacts individuals and businesses across the globe. Every business relies on technology ... 
WordPress is a free and open-source platform developed in PHP. Today, WordPress is behind everything ranging from simple websites and blogs to large portals and websites. Today, WordPress powers nearly 43% of the websites on the Internet. It offers simplicity for users and under-the-hood complexity for developers. Currently, WordPress boasts one of the world’s ... 
In today’s world, businesses have the potential to harness state-of-the-art technology designed to allow professionals to execute specific tasks right from their comfort zone. For example, multimedia files can be shared securely by using tools like Dropbox, Google Drive, and Microsoft One Drive, all of which allow a team to make live changes without ... 
These days, audiovisual (AV) technology is increasingly adopted globally throughout the corporate and industrial landscape. The increasing adoption of AV technology across industries and usage patterns proves how global ways of working have changed. Hybrid workforces may soon become more common as workers demand more workplace flexibility and variable work hours. To cope with ... 
DME billing services are a major component of a DME business’s sustainability and success. Making your DME business sustainable and ensuring a thriving profitable future can seem like an uphill challenge at times. Since DME billing is not a direct patient-facing function, it’s critical that such a business regularly perform record-keeping duties in tandem ... 
Business success is dependent on multiple factors, including the right infrastructure to power customer deliverables. Cloud computing is rapidly being adopted by businesses aiming for vertical growth and more robust operations. Read more about the different kinds of cloud options available here. Challenges businesses face routinely For most businesses, especially those that are smaller ... 
A Fortune Business Insights report says that the global cloud managed services market size was $46.50 billion in 2019 and is projected to reach $129.26 billion by 2027, which represents a CAGR of 13.8% in this forecast period. There are many benefits to choosing a cloud managed services provider. Getting a clearer understanding of ... 
Business control is critical to effective revenue management and business growth. However, it’s also essential for DME providers to have efficient medical billing processes for them to operate successfully. DME businesses can gain better control over medical billing services by efficiently managing patient data. Here are some ways in which DME businesses can improve ... 
Medical billing can be a complicated process even for trained professionals because this process’s requirements can be daunting. These include several constraints such as patient health details, prescriptions, notes authorizing medical equipment purchase, health history indicating authorization, prescription for purchase, consent forms, and several other prerequisites. Given the volume of meticulous work needed, trained, ... 
If you are wondering how to smoothen your internal business processes and maximize returns, it is time to opt for Strategic Process Outsourcing (SPO). SPO offers you a unique solution that guarantees outcomes and eliminates lagging processes. Strategic process outsourcing enables you to use experienced and dedicated resources that can help you meet your ... 
As a home medical equipment provider, you could be looking for better ways to improve your HME billing processes and revenue cycle management. Many HME, DME, and healthcare facilities often face problems associated with hiring on-demand expertise to streamline productivity and get maximum reimbursements. With ever-changing market demands, compliances, and industry trends, the stress ... 
In today’s everchanging and evolving healthcare marketplace, medical billing outsourcing is no longer a novel concept. Instead, it is now considered a mainstream approach and a trump card to spruce up bottom lines. Outsourcing helps healthcare organizations generate more savings due to streamlined processes, skilled labor with specialized knowledge and experience, and state-of-the-art technologies. ... 
These days, AV technology has finally come of age. Effective communication depends on how effective your AV technology is. Also, effective communication plays an essential role in delivering accurate information. Even a tiny interruption can alter the intended message. It is essential to ensure that content is effectively and comprehensively communicated. Therefore, it is ... 
BIM or Building Information Modeling is an intelligent 3D model-based process that uses digital 3D models during a construction project. This process creates a coordinated digital description of every aspect of the asset built, using appropriate technology. Building Information Modeling (BIM) helps create a digital structure of the building before being built physically. 3D ... 
If you are a small business and want to go big in a competitive market, it’s important that you choose an appropriate digital marketing strategy. Nevertheless, engaging with users and converting potential leads to customers has never been easy. It requires lots of effort and attention. The process is tedious and time-consuming. However, spending ... 
These are the days of the Internet where everything is available with just a click of the mouse. Reaching customers on the Internet is easier. They are a click away if you want to grow your business in 2022. To stay competitive, you should focus on moving your business online and targeting an audience ... 
Think innovation in AV, and what comes to mind first? A state-of-the-art flat-screen television or dramatic digital signage that grabs the attention of commuters on the go? But audiovisual lends itself to multiple uses and industries; communication and entertainment form proverbially only the tip of the iceberg. Innovations in AV empower teams to work ... 
In the information age today, the AV industry is thriving. AV solutions support meetings, conferences, and other business-critical functions. Nevertheless, outsourcing in the AV sector can improve the organization’s needs and impact the interaction of various teams. Therefore, outsourcing core AV tasks to dedicated experts has become advantageous for AV consulting businesses. It allows ... 
Entrepreneurs and creators always lookout for better ways to carry out tasks faster to manage projects. This is why leaders and services providers often use Revit software. Revit provides tools for smoothening architectural, mechanical, electrical, plumbing, and AEC industry work. It enhances productivity and offers 3D modeling for building without much effort. Nevertheless, the ... 
Mistakes in medical billing can jeopardize the reputation of your medical practice and hurt patient loyalty. The trust deficit created due to inaccurate medical billing can be irreparable. According to the 2019 Patient Payment Technology Report, based on a survey of 1000 U.S. healthcare consumers, only 33% of consumers expressed confidence in the accuracy ... 
Analytix, a leading medical billing solutions company, joins the Pennsylvania Association of Medical Suppliers (PAMS) as a gold member. The membership in this elite group enables Analytix to help independent HME and DME practices achieve high billing performances as well as drive solutions to the Pennsylvania HME industry. As the oldest state association of ... 
As most providers can attest, when running a healthcare practice, accurate patient billing is critically important. Billing errors can lead to severe consequences, including a loss in revenue, increased claim denials, costly reworking of claims as well as heavy fines and penalties. It is estimated that a staggering 80% of medical bills contain errors. ... 
Analytix joined the American Association for Homecare (AAHomecare) as an affiliate member. AAHomecare is the premier nationwide advocacy group representing providers of home medical or durable medical equipment and services. The AAHomecare Association advocates on behalf of the entire homecare community in legislative and regulatory arenas at the federal and state level. Its members ... 
Prior Authorization (PA) can be a frustrating and time-consuming process. In fact, 86% of physicians describe the administrative burden of prior authorization as high or extremely high. 90% of healthcare providers reported a treatment delay caused by Prior Authorization. Of these, 60% said it took at least one business day to receive a reply, ... 
Claim denials have become a fact of life for HMEs/ DMEs yet studies show that up to 90% of claim denials are preventable. If proper care is not taken, medical billing errors may arise, leading to delay in payments, delinquency in claims, and eventually patient disappointment. Quick and accurate verification of a patient’s eligibility ... 
High AR (Account Receivable) days are red flags that can negatively impact the bottom line of your practice. According to hospital benchmarks, AR days for facilities are 47.5 days, and anything above that means less money to hire quality staff, fewer margins, and capital for expansion. Regular, proactive follow-up of outstanding claims is critical ... 
Billing errors are not only bad for patients but also for medical practices. It’s critically important for healthcare providers to minimize any coding and processing errors to increase their revenue. Frequent claim denials and negligence may also trigger billing audits and investigations which may not only damage the HME/ DME’s reputation but even attract ... 
Claim denials can be frustrating for any medical practice. They not only lead to high administrative costs but also impact your reputation as a reliable healthcare provider. In addition, appealing denied claims can be a time-consuming process, straining an already overworked administrative team. We identified the 7 most common reasons for claim denials to ... 
Insurance verification is the first and most significant step in the medical billing and coding process. Today’s continually changing and increasingly complex healthcare environment requires, more than ever, close attention to validating coverage, benefits, co-payments, and deductibles. Thus, it becomes crucial that medical care providers understand the insurance verification process and its importance in ...