“Account Receivable” (AR) is a widely used term referring to the amount of money that a customer owes to the company. Similarly, in the healthcare industry, AR means the patient’s account balance becomes due for payment within a year. Account receivable services include the management of many reports dealing with insurance, collection analysis, write-offs, bad debt […]
Value-based reimbursement inspires clinicians to care for the whole person, who is essential to addressing health disparities confirmed by claims data from the COVID-19 crisis, CMS says. Health disparities confirmed by Medicare claims data for the period of the COVID-19 crisis underscore the need to transition to value-based reimbursement, according to CMS. Health disparities evident in the […]
Policymakers of the US quickly took action in this COVID-19 pandemic to relaxed long-standing healthcare regulations which include telemedicine reimbursement and healthcare fraud prevention laws. Moreover, the government and aligned organizations have developed temporary health policies to support the industry’s response to the pandemic. Telemedicine reimbursement policy During this pandemic, most of the practices opt […]
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) enforced CMS to implement an incentive program called the Quality Payment Program as MACRA ended the Sustainable Growth Rate (SGR) formula, which significantly cut payment rates for participating Medicare clinicians. Now, clinicians can choose the following ways to participate in the Quality Payment Program: Merit-based […]
The United States Food and Drug Administration (FDA) is cautioning health care providers regarding the newly revealed potential drug interaction linked to inspectional antiviral drug remdesivir that has given emergency utilization authorization for the treatment of the COVID-19 patients with serious disease. Revision in the fact sheet According to the recent non-clinical laboratory study, the […]
There are many hurdles during the process of radiology billing reimbursement. Claim rejection and postponements are not only disappointing to your imaging center but also showcase the extended timeline inpatient care, idle machines, and wasted physician hours. From the past few years, imaging centers have observed an increase in prior authorization declinations. Furthermore, in some […]
Multiple coding changes have been made either half-yearly or yearly basis with small reporting to the medical community from Centers for Medicare & Medicaid Services (CMS) as well as other private carriers. Owing to multiple modifications and their extended reporting, billers, and coders, and physicians are unaware of new guidelines until months later when it […]
Recently, the president signed the Paycheck Protection Program Flexibility Act of 2020 (HR 7010), since this law does not integrate any kind of additional funding to the Small Business Administration (SBA) Paycheck Protection Program (PPP) loan program. The payment protection program offers small businesses with funds in order to pay up to eight weeks of […]
The radiology billing and coding was usually seen as a bulky process. It is quite difficult to stay upgraded on different changes in rules and regulations of an individual payer. Irregularity in billing and coding can occur in the tough radiology environment. Moreover, this can create hurdles such as lost or under-coded filing and the […]
It has been a few months since that whole world is facing the COVID-19 crisis. Kudos to health care providers, they are the one who battling the pandemic at the forefront. The outbreak of COVID-19 has triggered an extraordinary healthcare crisis, occupied with tragic deaths, and heavy workload on the medical workforce. However, the experienced […]
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