Medical Billing

  Firstsource Solutions , a leading provider of Business Process Management (BPM) services, announced the acquisition of Quintessence Business Solutions and Services (QBSS) . This strategic move strengthens Firstsource's position in the market and expands its service offerings. Details of the Acquisition While the official announcement did coincide with Firstsource's Q4 earnings, specific details about the acquisition are limited. We do know that Firstsource acquired QBSS for ₹328 crore (approximately $40 million). What does QBSS bring to the table? QBSS's  Quintessence is a medical billing and coding company that offers end-to-end RCM services, Firstsource's focus on BPM solutions across various sectors like healthcare, communications, and finance, we can expect QBSS's capabilities to be complementary. Potential benefits of the acquisition for Firstsource Enhanced service portfolio: QBSS's integration could introduce new service offerings to Firstsource...

In a recent announcement, Walmart Health disclosed its decision to shutter all 51 of its health centers across five states and discontinue its Walmart Health Virtual Care services. The rationale behind this move? A "challenging reimbursement environment" and escalating operating costs have rendered these ventures unprofitable, as stated in an April 30 news release from Walmart. While this decision doesn't affect Walmart's extensive network of pharmacies and vision centers, it underscores a critical issue plaguing the healthcare landscape: the pressing need to rein in administrative costs. As we dissect this development, let's glean insights and explore strategies to address this overarching concern. The Crux of the Matter: Administrative Costs Walmart Health's closure shines a spotlight on the formidable challenge posed by burgeoning administrative expenses in healthcare. These costs encompass a spectrum of activities, from billing and insurance overhead to re...

 The world is your oyster, but unexpected medical situations can put a damper on your adventures (and wallet) if you're a non-US citizen. Here's the good news: there are fantastic health insurance options available to keep you covered wherever you roam. Choosing the Right Fit Before diving into specific plans, consider your needs: Travel Duration: Short trip or extended stay? Short-term travel medical insurance is ideal for vacations, while international health plans offer comprehensive coverage for longer stays. Budget: Premiums vary depending on coverage, age, and pre-existing conditions. Location: Some plans offer worldwide coverage, while others focus on specific regions. Top Recommendations Here are a few well-regarded insurance providers to get you started: International Medical Group (IMG): IMG offers a range of plans, from budget-friendly options to comprehensive coverage. Their website allows for easy plan comparisons to find the perfect fit. GeoBlue: ...

  In the intricate web of healthcare systems worldwide, the United States stands out for its unique approach, particularly in terms of administrative costs. One striking comparison that sheds light on this aspect is the relationship between healthcare administrative costs and long-term care expenses, especially when juxtaposed against per capita income. Let's delve into this intriguing comparison. The Burden of Healthcare Administration Costs The United States spends a staggering amount on healthcare administration. Administrative costs encompass a wide array of expenditures, including billing, insurance overhead, and bureaucratic processes. According to research, the US spends far more on healthcare administration per capita than any other country globally. In fact, studies have estimated that about one-third of healthcare spending in the US is attributed to administrative costs. Per Capita Income and its Relevance Per capita income serves as a crucial metric for gauging the econo...

  In the intricate landscape of medical billing, navigating the path to reimbursement can often feel like traversing a minefield, with denials lurking at every turn. Despite meticulous attention to detail, even the slightest oversight can result in a denial, leaving providers grappling with lost revenue and administrative headaches. Let's delve into the top five denials that plague the healthcare billing realm and explore strategies for mitigating their impact. Missing Information: It's astonishing how leaving just one required field blank on a claim form can unleash a cascade of denials. Demographic and technical errors, such as missing modifiers, incorrect plan codes, or absent Social Security numbers, are notorious culprits, accounting for a staggering 61% of initial medical billing denials and contributing to 42% of denial write-offs. The devil truly lies in the details, and overlooking even the most seemingly insignificant piece of information can have dire consequences. D...

  Your resume is often the first impression you make on potential employers, so it’s essential to ensure it effectively showcases your skills and experiences. Fortunately, there are numerous resume writing websites and apps available to help you craft a compelling resume that stands out from the crowd. Let’s explore five of the top options to elevate your job search game. 1. Novoresume Novoresume offers a user-friendly platform with customizable templates and a drag-and-drop editor, making it easy to create a professional-looking resume in minutes. With a range of templates designed for different industries and career levels, Novoresume caters to diverse job seekers. The platform also provides helpful tips and guides to optimize your resume for applicant tracking systems ( ATS ) and impress hiring managers. * Understnad what is ATS 2. Resume Genius Resume Genius boasts an extensive library of professionally designed templates, allowing users to create tailored resumes for their spe...