Practolytics Llc

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About Practolytics Llc

Practolytics is a 20+ year old healthcare technology and management company. We partner with healthcare practices to provide end-to- end solutions including medical billing, healthcare consulting and practice analytics, allowing practices to eliminate revenue cycle management inefficiencies. Our diverse background in every aspect of healthcare allows us to maximize revenue and consistently deliver optimum results.

Why Should a Practice Consider Using a Collection Agency to Collect Patient Balances?

Practolytics Llc04 Feb, 2022Health

Patient balances should be collected either at the point of service or on a set due date, not too late after the appointment. The reason for this is that your practice’s financial health and success depend on it. Collection of patient balances can be made easy if your administrative staff is aware of the financial terminology and can have a difficult conversation regarding the details of the payment such as what the patient is paying exactly, and the due dates for payments. Making the payment process easier is another way to ensure payment of patient balances promptly.

The Importance of Collecting Copay and Coinsurance Upfront When Managing Patient Payments

Practolytics Llc03 Feb, 2022Health

Medical practise revenue management is a difficult undertaking since you must deal with insurance reimbursements as well as patient payments such as copays if the patient does not have insurance. The success of your practice is dependent on multiple parameters, all of which are intertwined with each other. Patient satisfaction and care are some of the most important parameters and so is revenue collection. Both of them require different approaches but neither of them can succeed without the success of the other. You cannot provide excellent patient care without the sufficient funds and revenue required. Revenue management in medical practices is a tricky task as you have to deal with insurance payouts and patient payments such as copay in case the patient has no insurance.

Patient Balances: Best Practices a Practice Should Implement to Avoid This Expensive Mistake

Practolytics Llc02 Feb, 2022Health

Patient balances are the amounts that a healthcare professional, such as yourself, can charge a patient. This cost is separate from the insurance company's payment and copays. The insurance industry has gone through a drastic change with more and more patients paying higher out-of-pocket expenses than before for their doctor’s visits. The TransUnion Healthcare Analysis of patient payment responsibility has shown an 11 percent increase in out-of-pocket patient expenses, in the span of one year. The average annual expenses paid by the patients have increased from $1,630 to $1,813. That is a significant increase given that the economy and patients’ income situations have remained the same, or worsened.

Benefits of Possessing an Appropriate Spravato Billing Guide

Practolytics Llc29 Dec, 2021Health

Since the payment policies and reimbursement strategies regarding Spravato is quite unique, it is very important patient is made aware of their financial responsibilities from the beginning. Now, having a Spravato billing guide handy, will help you with that.

Significance of Healthcare Revenue Cycle Solutions in the Post-Covid Scenario

Practolytics Llc28 Dec, 2021Health

Health care providers across the nation is under significant amount of stress since the outbreak of Covid-19 pandemic; everybody is on a lookout for better healthcare revenue cycle solutions. Covid acted as a major catalyst causing lasting and unexpected changes in healthcare industry and society at large.

How to Keep up with Spravato Billing Complexities?

Practolytics Llc28 Dec, 2021Health

It is well-known fact that Spravato billing involves a number of time -consuming complexities and administrative headaches. Preauthorization, buy and bill nuances, benefit verifications, coding ambiguities, claim tracking etc. are to name a few. Coordinating all these in a timely manner to ensure payment collection without delays is a cumbersome task.

Significance of Medical Billing Solutions at Integrating Workflows

Practolytics Llc27 Dec, 2021Health

What are the expectations of the average practitioner, when it comes to adopting new medical billing solutions?. Surely there are a number of competent billing solutions and software tools available in today’s market. Health care IT is on a boom and the choices are limitless.

Legal Implications of Medical Billing Audits on Provider’s Practice

Practolytics Llc27 Dec, 2021Health

The best way to eliminate the risk of getting caught by authorities for fraudulent billing is to conduct internal medical billing audits periodically. Keep monitoring the billing policies and adopt up to date compliance education to save your practice from penalties and defamation.

A Spravato Billing Guide to Get Established at Spravato Practice

Practolytics Llc20 Dec, 2021Health

Which is why it is necessary to have a Spravato billing guide available for the providers to get established at Spravato practice. Even though this is approved by most insurance companies these days, it remains very expensive as far as co -pay and co- insurances are concerned.

Everything Innovate About AdvancedMD EHR Software

Practolytics Llc20 Dec, 2021Health

The AdvancedMD EHR Software is specifically designed to stay task-oriented on high file volume platforms, so that you don’t get lost while planning your schedule. It has special features that keeps pointing out to what should be next. The EHR Dashboard is a multifunctionality tool that readily prioritizes elements that need immediate. And critical attention from the providers, so that you don’t miss out on any single small detail and your practice doesn’t suffer.