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 have a workload that needs expertise on-demand, you should consider outsourcing CFO roles. Outsourcing lends an extra hand to improve productivity and expand your team with ease. It can help you complete tasks faster. An outsourcing partner can provide accounting, bookkeeping, recording keeping, and financial and tax management services. Outsourcing companies follow ... 
One of the foremost requirements of a sustainable and successful business is financial strength. Financial strength decides how strong a budget can be, how accommodating forecasts can be, and more importantly, how much cash is available to the business readily. Cash flow, not profits, decides the financial strength of a business. Financial health management ... 
If you discover that you spend much of your time managing accounting tasks without improving productivity and output, then accounting software may be the answer to your needs. Modern accounting software automates back-office operations such as accounting, bookkeeping, financial, and tax management operations/functions, thus making it easier for business owners to manage their finances ... 
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 ... 
The eCommerce landscape is changing rapidly these days. Reports by Statista forecast that revenue from retail eCommerce in the United States will exceed 1.3 trillion dollars by 2025. Nevertheless, the pandemic accelerated the way eCommerce processes are being implemented at an extremely fast pace. This is because the pandemic ushered in the need for ... 
Digitalization is at its peak, and innovations are a never-ending story. If you are a business owner and planning to grow your company, adding the latest technology stack is crucial. It is the only way to survive in the current market. Nowadays, growing companies dominate traditional markets and businesses by implementing and integrating the ... 
Are you struggling to do business in 2022? Don’t worry. Many business executives are struggling to meet market demands. You may be experiencing losses in the current scenario because you could still use an outdated business model. To increase revenue in the current market, you will have to follow the latest business trends. Starting ... 
Accounting and bookkeeping are the foundations of financial management. This makes it a mandatory function for any business, regardless of size. However, for startups, diligent accounting and bookkeeping can be complicated, given that resources may be minimal. In addition, infrastructure may be limited and budgets restricted. Consider the freedom of outsourcing assistance in this ... 
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 ... 
Information technology has permeated human activity considerably in the last few years. Especially, IT has been beneficial to businesses that want to grow faster and reduce workload. In addition, technology allows businesses to remain competitive in the present market scenario. Companies with the latest technology tend to reach more customers and broader markets. If ... 
Implementing the latest accounting technology is crucial for today’s business to grow faster in the competitive market. It allows the workforce to automate regular tasks, increase productivity, improve data analysis, and promote business growth. Automation in accounting and bookkeeping allows accountants to improve financial and business strategies. Their role as an accountant demands skills ... 
Picture this—these days, there are 10000+ eCommerce websites offering quality goods and services. These websites are the same as your online store. Customers love an online store that is optimized, clean, clear, secure, and faster. Therefore, to stand out from all these websites, you need to ensure customer satisfaction. Hence, your online store must ... 
Businesses that are well-supported in tech adaptation and aligned with current technology possess a more significant advantage in planning and executing growth goals. This is true for all businesses, regardless of their size or the industry they operate in. Some challenges facing businesses when it comes to IT deployment include: Inability to choose the ... 
Reducing taxable income becomes very important for small businesses wanting to save every earned dollar. To keep the revenue and reinvest the money back into business, you will have to opt for tax-saving strategies. There are several ways to deduct and reduce taxable income. In addition, there are tax exemptions and tax credits, which ... 
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 ... 
Accounting and Bookkeeping Accounting and bookkeeping are the foundations of sound financial health. Bookkeeping is a basic function that businesses must carry out diligently to ensure reliable accounting. In turn, updated accounting helps ensure financial soundness. Take a look at the following table: When Outsourced Managed In-house Diligent and on-time recording of transactions. Because ... 
A streamlined accounting and bookkeeping practice is central to sound financial health for the business. Finding the right accountant is imperative for businesses because of the critical role of accounting and bookkeeping in financial management. The right accountant can: Help ensure bookkeeping and accounting is in order. Choose and maintain processes relevant to the ... 
Medical billing is a complicated function, more so for DME businesses handling multiple client requirements. There are multiple challenges at different stages, including training, revenue cycle management, and denial management. Below we list some challenges DMEs/ HMEs face in medical billing. We also mention some solutions to address them effectively without affecting the business ... 
Identifying business KPIs is the key to ensuring business goals are on track and can continue to guide the business accurately. According to Business News Daily, KPIs guide businesses in the right direction. To be effective, KPIs are typically: ● Specific: Specific KPIs are assigned numeric values or percentages. For example, ‘15 percent growth ... 
Organizations today need expertise that can smoothen business operations and help grow business steadily in the competitive market. Today’s scenario calls for better solutions to help run a business efficiently, organize mundane tasks, and focus on core competencies. It is always advisable to use a popular solution to manage your HME business and billing ... 
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 ... 
Working capital management is critical to profitability and maintaining a positive cash flow for any business that seeks sustainability, growth, and development. In technical terms, working capital is positive when the assets owned by a business are more than the liabilities. Negative working capital may result from having higher liabilities than assets. Activities such ... 
Reporting and paying taxes by the due date is essential to avoid penalties and other charges. If you owe taxes to the IRS, it is wise to pay them as soon as possible. The IRS adds interest and penalties on the late payment of your owed taxes. To save every earned dollar, it is ... 
Technology adds strength to the healthcare industry for providing comprehensive treatment, cost-effective medicines, better services, and running business functions smoothly. These technological advancements have helped patients, medical billing staff, insurance providers, physicians, and management in their respective roles. The impact of modern technology on medical billing is enormous, and it has changed how the ... 
Successfully processing a medical claim is the only way DME businesses can be paid. A DME business must tend to critical aspects such as the recording of documents in addition to regular business functions. The DME also needs to allocate resources for staff trained in the medical billing process. An MSN report says that ... 
The benefits that Revit BIM brings to businesses can help improve the AV experience, overall and improve AV deployment in living, work, and entertainment spaces. Allowing better understanding of other essential elements like lighting and plumbing so that one does not create interference with the other. Allowing creation of more harmonious surroundings, with optimal ... 
The ability to help boost profitability for your business is just one of the multiple advantages of Revit BIM software. Architecture and design can benefit immensely from robust and reliable integration between AV elements in architecture and design. Revit BIM is uniquely equipped to provide high-quality, data-rich design and documentation support; in the process ... 
Building Information Modeling (BIM) allows you to create a virtual building. This helps service providers, and their clients more clearly understand a proposed design. It is a near-perfect communication tool when it comes to construction visualizations. The potential to transform pre-construction work BIM has the potential to transform the way building projects are communicated. ... 
Given the transformative benefits of AV Revit BIM technology, it makes sense to harness and leverage them to grow the profitability of your business. Building Information Modeling (BIM) is a 3-dimensional design and modeling tool that helps designers, architects, and construction professionals create models of their designs. This ensures: Stakeholders get an idea of ... 
Targets are a focused path that can help businesses attain growth and development goals. As an AV integrator, focus on ensuring your firm’s targets are aligned with your long-term growth goals, and those of your clients. A synchronized way of working with clients is often the key to strong business development. But is your ... 
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 ...