Unlike any other practice, billing is a very crucial factor, even to orthopedic practices that are looking out for steady cash flow and decent revenues. It is a major decision that medical practices need to make whether to handle the billing in-house itself or to outsource it to a professional orthopedic billing company? You will […]
With changes occurring worldwide in all organizational sectors, the healthcare industry needs to embrace change in its workflow in order to succeed. For this, the process workflow must be in sync with competence and productivity. In the case of orthopedics, optimizing workflow for orthopedic practices is particularly important and can be made beneficial by redesigning the […]
The far-reaching effects of ICD-10 will have to be understood by all in healthcare in order to deal with the impacts. The ICD-10 coding system that will kick in on October 01, 2015, is stated to be more comprehensive and much more advanced than its predecessor ICD-9. It is a known fact that Orthopedic and […]
There are 28,000 Orthopedic Surgeons practicing across the US, according to the American Academy of Orthopedic Surgeons Even though Orthopedists earn the most from patient care work ($421,000), as compared to physicians from other specialties (Medscape Physician Compensation Report 2015), yet today the orthopedic practice seems to be facing big challenges in terms of generating […]
Orthopedic coders need to keep up pace with the coding changes. Even a small coding error can lead to a potential fraud and result in a claim denial. There is a strong need to minimize the time being spent on combating coding issues. Providers need to place more focus on boosting their practice’s revenue, reducing […]
Rising healthcare costs and declining Medicare payments and are two key business challenges being faced by orthopedic practices. Due to the drastic impending cuts in professional fees, providers are finding it difficult to run their business smoothly. Many physicians have already left the Medicare program as they are unable to stay afloat in the current […]
The process of coding and billing can be quite complex for orthopedic practices. Codes and specific modifiers required for obtaining maximum revenue are always changing and this has resulted in a unique set of orthopedic billing challenges for this specialty. To make matters worse, orthopedic fee schedules are getting reduced every year. It is becoming […]
Compared to any other medical specialty, orthopaedic surgeons perform a greater variety of procedures. However, they barely receive one third of what is billed. Insurance companies continue to slash the amount they pay out to doctors and hospital; due to all these reasons orthopaedic practices are facing tremendous pressure to stay afloat amidst rising costs. […]
2013 brought new changes to orthopedic billing and coding, making timely reimbursements even more daunting for physicians. At a time when reduction in fee schedules and Medicare cuts have affected the financial health of orthopedic practices, preparation for ICD-10, compliance to new technology and dealing with varied payer mix has increased billing challenges for them. […]
With the introduction of new coding and billing changes for Orthopedics in 2013, reimbursement and timely billing has become even more challenging. Orthopedic physicians are facing Medicare cuts and their fee schedules are reducing. It has become vital for them to be compliant with the required technology for conducting operational functions putting increased pressure on […]
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