Transition to ICD-10 will be a lengthy and complex task for providers who are not prepared to meet the challenges. Switching to a new coding system will not only affect different departments within a practice but investment of time and money will also be required for personnel training and system testing before October 2014. Challenges […]
Finding trained billers and coders is one of the major challenges faced by medical practices. Shortage of certified coding specialists has not just affected the revenue cycle of small, rural hospitals but healthcare facilities around the US are fighting this issue. Common staffing issues that affect reimbursement: Not just hiring expert staff but training existing […]
Pressure for HIPAA compliance is rising and practices are deploying necessary technologies to avoid security breaches. Penalty for HIPAA breaches has been revised and while the fine for one-time security violation stays under $50k, repeat violations in the same year can lead to a fine of $1.5 million. Are HIPAA penalties applicable to your practice? […]
Hospitals in rural areas lag behind in health IT adoption due to which they face difficulties in care co-ordination. It not only impacts patient outcome in such areas but also affects the way these hospitals collect, share, use and manage health information. With few employees, less money and less time, rural hospitals are struggling to […]
Billing and coding procedures are set to become more complex due to ICD-10. So, if you want to minimize claim denials and maximize revenue you need to have well-trained staff at your practice. Providers need to understand that coding complexities will affect the productivity of in-house staff. They will be confronted with requirements for updated, […]
Claim denials are experienced by every medical practice; however, the percentage varies on the basis of how effectively medical billing tasks are handled. Providers can bring down denial rates below 5% if they invest time and money in improving their billing performance. It will not just improve their revenue cycle and increase their cash flow […]
In case of claim denials, every medical practice goes through the time-consuming procedure of dealing with a health insurer. Claim denials create a cash flow problem for practices due to which it becomes essential for providers to minimize delays and denials. Simplifying the appeal process: Physicians should appeal a denied claim even if it is […]
Modern healthcare challenges have become so numerous and daunting that they leave healthcare organizations in a constant state of flux. Take the challenges posed by new technologies used to perform various procedures involved in treatment episodes. Each time a new diagnostic tool arrives, healthcare organizations have to both acquire and adapt to it. Both have […]
Many allege that ICD9 codes lack the ability to precisely describe low-intensity conditions particularly pertaining to physical therapy, home care etc. On the other hand, ICD 10 is widely believed to be more accurate and inclusive and thus is expected to promote the number of successful claims. But before getting there, chiropractic practitioners have to […]
With more than 90 million Americans covered under Medicare and Medicaid insurance services, the U.S. healthcare system is heavily dependent on the success of healthcare reforms to improve care standards. All healthcare reforms are currently focusing on two parameters of care – cost and quality. Every new rule and guideline which is being introduced is […]
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