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 ...
Technology adaptation has become the norm since the pandemic. Hence, businesses looking at swift growth and development cannot continue to ignore technology for their needs. Yet, tech deployment is not an easy proposition. Here are some of the challenges that businesses face when considering tech deployment: Selecting a tech solution that may not be ...
Starting an online business is much simpler than ever. Anyone with basic computer skills can begin with an online business. The Internet makes it easier to access information and collaborate with people. It helps in finding the required expertise on-demand. For example, platforms like YouTube give access to tutorials to help users grasp content ...
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 ...
As businesses explore newer ways to succeed, grow, or even thrive sustainably in an uncertain economic landscape, cloud computing is fast proving to be a solution of choice. Here are some ways in which adopting the cloud can bring about digital transformation within businesses. • Keeping up with innovation consistently• Helping keep pace with ...
If you are considering business migration to the cloud, then why not opt for Microsoft Azure Cloud for your needs. According to an InfoWorld article from 2021, the number of organizations spending at least $12 million annually (31%) nearly doubled over that seen in the previous year, 2020 (16%). However, even as cloud initiatives ...
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 ...
In today’s market, the success of your business depends on how well you use the latest technology trends to dominate the market. Technology allows entrepreneurs to reach more customers and understand market demands in-depth. With the new trends, tools, and automation tactics, you can grow your business faster and make better decisions. If you ...
Cloud technologies have been growing rapidly since the last decade. Especially during the recent pandemic, the growth of cloud computing has been explosive. This is primarily attributed to the growth in remote work. The rising trend of cloud computing can be witnessed globally. According to recent reports, the cloud computing market reached 445.3 billion ...
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 ...
If you consider investing in software with excellent cloud management capabilities, why not opt for Microsoft Azure. It offers both private and public cloud computing and management capabilities. It has proven itself a platform of choice for businesses, regardless of size, industry, or geography. A Statista report reveals that the Azure cloud platform encompasses ...
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 ...
Accounting errors are common in every business. They cause enormous problems when balancing books and filing taxes. This could jeopardize your entire business operations as well as cause loss in the financial year. These problems typically arise because of a lack of financial management. Some great ways to solve accounting errors are adding journal ...
Generally Acceptable Accounting Principles (GAAP) are a set of common accounting principles, standards, and procedures that must be adhered to by public companies in the U.S. when preparing financial statements. These are issued by the Financial Accounting Standards Board and are driven by the need to maintain consistency and clarity in communication-related to financial ...
Many say that the top two problems for small business owners are lack of funds and lack of time. Our research has observed that business owners often use personal funds to facilitate day-to-day business activities, creating problems when analyzing profit and loss. This could disincentivize revenue, and it can affect taxable income. Keeping track ...
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 ...
If you feel overwhelmed with work and client management in the competitive market, it is time for your firm to explore advanced business options like outsourcing. Outsourcing provides a fantastic solution to reduce workload and allow the internal team to focus on other lucrative tasks. To free up your schedule and enable business growth, ...
The insurance claims process is a tedious job for several reasons. Data accuracy and claims submission needs to proceed on time for an insurance settlement. Claim denial rates are consistently high because of a lack of resources and time management. This decreases the revenue of your business. In-house claims processing teams are costlier than ...
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 success of your healthcare business depends on understanding key performance indicators and enhancing revenue cycle management. This allows you to identify areas of weakness in your organization and take the necessary steps to increase revenue. Evaluating KPIs and RCM practices will improve your insurance claim process, reimbursement procedures, and collection rate. These three medical ...
The healthcare business management route is the chosen strategic approach to success in a competitive market. Efficient management practices can help HME/DME healthcare businesses grow. We have gathered top HME/DME management tips that can boost productivity and grow your healthcare business efficiently. HME/DME Management Tips Automation: Today’s healthcare business requires the latest technology like ...
Claim denial can be frustrating. When it happens, businesses need to rework the application, often losing both time and money. Denied claims also negatively impact business cash flow. The higher the incidence of denied claims, the worse the impact on cash flow. Every denied claim is a payment that is deferred or delayed until ...
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 ...
The medical billing process requires tremendous attention to complete work accurately. With a surge in workload, many HME businesses fail to file patient requests accurately and miss the deadline. Moreover, updating patient requests consumes more time, pushing back new submissions. To streamline the medical billing process and improve claims rates, consider these top medical ...
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 ...
The professional AV industry might be experiencing work volume leveling out to what it was in 2019 and before, according to a report by AVIXA. However, this does not mitigate the risks brought about by losses induced by COVID-19. AV engineering provides vital support to a number of projects, including helping meet project deadlines, ...
Matchless interdisciplinary coordination, information-rich 3D designs, and visualizations are some of the transformative benefits BIM brings, which hold great promise for AV engineers, AV integrators, and AV consultants. According to a webinar available on Avixa, Building Information Modeling or BIM is at its essence a communication tool. However, its adaptability for AV engineering has ...
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 ...