The year 2010 has registered a hike in the median compensation for Hospitalists. The Hospitalists in adult medicine saw their compensation increase 2.6% to $220,619 from $215,000 while the Pediatric Hospitalists‘ pay rose by 7.2% to $171,617. The report, which is based on MGMA survey information, takes into account data from 4,633 hospitalists in 412 […]
“Despite such volatile environment, physicians have to find means to realize their each and every dollar owed them as their very sustenance and growth hinges on efficient reimbursement of medical bills” Unlike other professional services that realize their professional fees instantly, without having to rely on a third party (insurance carriers), physicians have to go […]
Under-coding can be defined as the procedure of medical coding where the codes do not reflect the full extent of the treatment provided to a patient. This can usually happen due to many reasons but the most common are errors or misreading of codes or because of the misconception that the chances of insurers paying […]
The major challenges faced by physicians who run a small practice or clinics that have less than four or five physicians are expanding exponentially. Many physicians find themselves worrying and spending time on administrative processes and interacting with payers rather than spending some quality time with their patients. The recent health reforms including the HITECH […]
The growing incidence of delays, denials, audits, and resubmission of physicians’ medical bill claims is reason enough to have a relook at the way physicians’ services are billed and coded. In a medical insurance environment, characterized by stringent billing and coding compliance, inherent billing and coding errors are easy to catch. Further, lack of knowledge […]
“Consequently, physicians’ medical bills get an imperial stamp of authenticity, and nullify the chances of undesirable delay, denial, resubmission, and audits from highly stringent medical insurance companies” Notwithstanding physicians’ integrity in preparing honest Superbills, comprehensive analysis has become imperative before these can be submitted to payers for reimbursement because of the highly dynamic nature of […]
A Brief Anatomy of Financial Challenges Faced by Physicians The US healthcare system is facing major reforms in the next two years and this not only includes adoption of new healthcare IT reforms such as EHR (Electronic Health Records) and EMR (Electronic Medical Records) but also changes in the way physicians are reimbursed. The most […]
There seems to be no respite for physicians, who are already reeling under immense pressure from radical healthcare reforms introduced by the Federal Government. Faced with prospect of unsafe retirement life in the face of continuously receding economy, physicians – who earlier had planned retirement in 5-6 years – are actively reconsidering such plans. The […]
Baby boomers are usually believed to be people born during the post-World War II birth rate boom, lasting from 1946 through 1964. According to a survey conducted by the CDC (Center for disease control), many elderly people started flooding doctors’ offices even ten years ago in 2001. Now since the latest health care reforms would […]
The reforms in the health care sector would essentially mean that physicians have to deliver quality service at lower costs. This is inevitable since doctors and hospitals can be penalized for negligence if they end up giving the wrong treatment due to increased work pressure and in order to meet the break-even point. As 45 […]
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