According to a report by nonprofit Kaiser Family Foundation premiums for employer-sponsored insurance plans between 2008 and 2018 increased 55 percent--twice as fast as workers' earnings. And since 2006, the average health insurance deductible for covered workers soared by more than 200 percent--from an inflation-adjusted average of 379 percent to more than $1,300 today. Bottom [...]
Did you know a national survey released in November from analytics company Geneia found physicians who are employed by hospitals and corporations are more dissatisfied and burned out than those who work independently and in physician-owned practices. The breakdown is revealing: 69 percent of corporate/hospital-owned physicians agree they are talking about work in a more [...]
CPT Editorial Panel approves sweeping changes to E/M coding and documentation guidelines.
Read more here: https://revenuecycleadvisor.com/news-analysis/cpt-editorial-panel-approves-sweeping-changes-em-coding-and-documentation-guidelines
National health expenditure growth is expected to average 5.5 percent annually from 2018-2027, reaching nearly $6.0 trillion by 2027, according to a report published today by the independent Office of the Actuary at the Centers for Medicare & Medicaid Services (CMS).
Here is a link with more information: https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/Downloads/ForecastSummary.pdf
CMS reissued MLM SE17023 released on 01-24-2019 which clarifies physicians and non-physician practitioners need to identify the correct date of service for the services they provide to a Medicare patient.
RADIOLOGY SERVICES: Typically, radiology services have two separate components: a professional and technical component. These services will have a PC/TC indicator of “1” on the Medicare Physician Fee Schedule (MPFS) Relative Value File. The technical component is billed on the date the patient had the test performed. When billing a global service, the provider can [...]
Why Providers should accept credit cards and eChecks
Since the inception of the ACA, consumers have seen their deductibles and out-of-pocket medical expenses skyrocket! Because of this, providers need to give patients every opportunity to meet their financial responsibility. By accepting credit card and eCheck payments, providers offer their patients this opportunity. According to an InstaMed study, 50% of consumers would rather use [...]
Merit Practice Advisors Launches to Deliver Revenue Cycle Management, Practice Advisory and Analytics Solutions to Hospital-Based Medical Groups
Merit Practice Advisors leverages parent company’s 47 years of experience; focuses on Radiology, Pathology and Anesthesiology Waterloo, IA (November 18, 2013) - Professional Management, Inc. (PMI), a complete practice management solutions provider with over 50 years of industry experience announced today the launch of Merit Practice Advisors. Merit Practice Advisors is a physician-owned practice management solutions company [...]
Harness Technology To Accelerate Claims Success
Medical billing and coding processes are becoming increasingly complex as the healthcare industry prepares for the transition to the ICD-10 coding system and Medicare and Medicaid continue to cut reimbursement rates. Medical professionals must be more specific when coding diagnoses and procedures, as well as satisfy a laundry list of requirements to ensure claims are [...]
Start Early To Limit The Pains From The ICD-10 Transition
In just over a year, the latest version of the International Classification of Diseases (ICD) system will be implemented, significantly altering the coding process for medical billing operations. While the time and energy needed to master the ICD-10 system – which is more complex than the ICD-9 system – may seem cumbersome, the Centers for [...]