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Simple Solutions to Your Reimbursement Problems! |
Minor ICD-10 Errors Medicare Won't Deny Claims |
The Medicare program recently announced a grace period of 1 year for claims that bear ICD-10 diagnostic codes. Claims for payment will not be rejected by Medicare even if the submitted ICD-10 codes lack specificity. |
Healthcare Industry Trivia |
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- According to the CMS, claims will not be rejected due to lack of code specificity as long as the code submitted belongs to the right ICD-10 family
- • Physicians will not be penalized if they submit data which contains less than perfect ICD-10 codes to Medicare quality programs this year such as PQRS
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Efficient Practice Management
equals to Higher Revenues! |
Call Now for Free Consultation 888-357-3226 |
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How is Practice Revenue Related to Physician Credentialing? |
Credentialing is an important aspect of the revenue cycle process within which the medical experience and expertise of a provider is verified. If the provider is not credentialed with commercial or government payers, it can lead to loss of revenue as claims will either get delayed or denied. |
Things to Know: |
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- Through effective and timely credentialing, physicians or hospital administrators can streamline costs, increase revenue and shorten the time span within which they get paid
- As per reports, it can take up to 25 hours each year, per provider to complete the credentialing forms. When multiplied with the number of physicians in a practice, it shows the amount of burden credentialing places on the administrative team
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