Is your practice ready for ICD-10? Resources are being developed by CMS to help healthcare industry implement ICD-10 but if your practice has not yet started prepping, transition to the new coding system will have a major impact on your reimbursement. With little less than a year left before the mandated shift, small or large […]
In many ways, healthcare reforms have opened doors of opportunities for rural hospitals but the changes in healthcare system have also imposed certain challenges. Rural hospitals are not just facing pressure due to rise in cost of care but reduction in reimbursements has also increased their trouble. Challenges affecting rural hospitals: Payment from government is […]
With the introduction of HIPAA 5010 federal mandate and inclusion of ICD-10 standard for electronic billing processing, there is an immediate requirement for skilled manpower to process your Optometric medical billing claims. If accurate billing is not done as per new codes of ICD-10, your Optometric practice can face major revenue losses. Moreover, if proper […]
Compensation surveys in the medical world have seen several specialties dominate, with certain physician specialties becoming more high-paying than others with each passing year. The specialty of Neonatology holds the distinction of having a far greater increase in average compensation which stands at 11.9%. Plastic surgeons finished second, and saw an increase of 8%. Intensivists, […]
Healthcare is an evidently developing industry, compared to many other significant industries. As the requirement to meet the needs of the patients, aging population care, and medication safety is increasing, so is the relative importance of health care. The healthcare division is offering more jobs and according to industry statistics has contributed for more than […]
Cost of healthcare in America has shot up due to the way healthcare providers are being paid for their services under the fee-for-service system, which has bought about an urgent need for health care payment reforms. However with the introduction of various new payment models; a medical practice needs to expand its capabilities to appropriately […]
A physician takes all the necessary measures to treat his patient, but are the rewards received easily? The answer to this question would be a NO. In the current healthcare scenario a physician has to face various challenges to claim his allowable amount from diverse payers depending on their varied policies. Additionally insurers have a […]
Medical Practices lose approximately 20-30% of their income due to errors made by the internal billing department, as deduced from various studies. If your billing functions including coding, denial follow ups, collection of patient receivables, staffing and accurate charge entries are not done properly, you will end up losing thousands of dollars on a yearly […]
Despite the delay in implementation of 26.5 percent cut in Medicare family practitioners payment, AAFP continues to call on Congress for a repeal of the sustainable growth rate (SGR) formula. This is understandable because the deferment means a temporal relief for family practitioners and if SGR is around, given that it assesses growth solely from […]
A truly successful medical practice in today’s evolving healthcare industry is one that has its goals aligned with its medical billing goals. To a physician, however, it may seem like yet another time consuming task, but well determined objectives of a medical practice, if successfully translated into billing and coding practices can result in enhanced […]
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