The CPT codes undergo major changes in the beginning of every year. The changes of 2015 have been announced in October 2014 by the AMA; is your practice prepared?
MedicalBillersandCoders.com is prepared with the CPT changes for 2015. With more number of physicians considering quitting their private practices for losses incurred due to the healthcare reforms, outsourcing medical billing is in serious contention for many healthcare professionals.
2015: A tough year for US Physicians
Physicians have a tough year ahead with the scheduled CPT changes and ICD-10 deadline. Surveys highlight that physicians are yet to prepare their practices fully for the new coding system and bring in complying health IT equipment and software.
Some facts and figures from the US healthcare industry:
Number of physicians employed in hospitals in 2014 were 75%, which conveys that the number of physicians practicing privately are just 25%
Different monetary incentives are offered to physicians by different states to stop them from shutting down their practices
Effect of Medicare Physician Fee Schedule 2015
The announcement of 2015 Medicare Physician Fee Schedule has made matters more complicated for the physicians as they have to invest more time for studying and understanding the repercussions of it, let alone coining methods of dealing with it.
The usual retrospective reports and surveys of medical practices and physicians do not exude a remarkable difference in their RCM. A glaring change that 2015 will bring for physicians is the predicted losses in revenue due to the following:
Various specialty-wise healthcare reforms and lack of resources for coping up
Percentage wise payment cuts on the basis of PQRS reporting and standards
Accurate coding for the type and location of service provided and including the modifier
Payment cuts till the time Sustainable Growth Rate doesn’t take effect, i.e. April 01, 2015
Partner with MBC for Maximizing Collectibles
Steve Martin, Marketing Director (Web Promotion) of MedicalBillersandCoders.com says, “We are all geared up for the impending CPT change and the ICD-10 implementation too. Our dedicated AR team will ensure the reimbursements are mobilized in minimum AR days. So, we assure all the providers of maximum possible collections.”
MedicalBillersandCoders.com - Company Profile
MBC is a popular choice among physicians for over 15 years now and they specialize in analyzing AR. Their research team coins innovative and effective ways of billing. They are spread across all the states of US and hold expertise in over 40 medical specialties. Their dedicated teams ensure you get paid on time.
Prerna Gupta, Media Relations
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