Medical Billing since its inception has both equal parts of Healthcare providers and insurance companies. For Healthcare providers it’s more in the part of reimbursement while for the insurance companies, it’s holding their profits. As Billing became more and more complex with the inclusion of other regulations the need skilled billers and coders was felt […]
For managing finances, computation of values or formula is used in the United States Medicare for reimbursement of independent physicians. Known as Relative Value Units (RVUs), it was devised in 1988 to calculate the work rendered by physicians for treating patients. It differs chiefly from physician to physician in terms of services rendered; for e.g. […]
Accounts Receivable (AR) is one step that divides the reimbursement and claims; the older the claim gets, the harder it becomes for claims to get reimbursed. For practice when AR slips below a certain level you either have a pretty large backlog to be sorted out, or you can see that it becomes impossible to […]
Indicating a departure from the volume-based, fee-for-service model, MACRA now replaces the SGR – sustainable-growth-rate-formula to control Medicare costs. The MACRA rule is all about linking Medicare reimbursements to the quality metrics with the medical billers which will be now rewarded for offering value-based quality services. MACRA revokes the set payment rates based on economic […]
Health systems and hospitals across the nation are faced with different revenue management challenges, some of which are caused by the rise in the transition to the value-based payment alternatives, consumerism, and high deductible health coverage plans. Off late, it has pushed patients to become more involved in healthcare decision making. Better transparency into costs […]
Established on September 2, 1974, the Employee Retirement Income Security Act is coded in the 29 USC, Chapter 18 and is a claimed federal law. As stated by this law, every individual is entitled to a sum of money after retirement that has to be provided by his employer, irrespective of any circumstances. Further, employee […]
In January 2017, Donald Trump signed an execution policy against the ACA ( Affordable Care Act). The directives touch on issues like the Affordable Care Act, new homeownership, federal hiring, and most controversially, immigration. Some of the crucial presidential memoranda are mentioned below: 1. Reducing the Economic Burden of the ACA (Affordable Care Act) & […]
Getting your claims reimbursed through offshore medical billing and coding agencies is not a new phenomenon that has hit the healthcare service industry just now. It has been into operations since the change of century (2000-2001) and has gained a stronghold in almost all the major hospitals and physician facilities. So, when we talk about […]
Developed and developing economies are expected to see health care spending increase ranging from 2.4 percent to 7.5 percent between the years 2015 and 2020 according to the report by Deloitte. The Healthcare industry is projected to take a multi-million dollar leap by 2022; Are the existing resources in the industry enough to meet the […]
The first known malware extortion attack happened under the name “AIDS Trojan” which was written by Joseph Popp in the year 1989. The malware was pretty much ineffective due to design problems. Encrypted ransomware returned in the year 2013 when a crypto locker used the digital currency Bitcoin to extort money from the infected users. […]
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