Medical billing has gotten significantly more complex this year due in large part to some changes in revenue cycles. In addition to other factors that are increasingly complicating the industry, such as a rapidly aging population, greater regulation of the healthcare system as a whole and the shift from paper to electronic recordkeeping, there are a few new developments that …
What Comes After ICD-10 Implementation?
There’s been a lot of debate this year about the upcoming deadline for ICD-10 implementation. People in favor of ICD-10 continually note how the current ICD-9 code set is extremely limited and that here is a great need for data that is more robust. People against ICD-10 have several main arguments, including the expenses and complications associated with implementation and …
Could ICD-10 Implementation Cause Reimbursement Problems for Physicians?
Healthcare executives throughout the nation are carefully following along with all of the most recent news about ICD-10 implementation and the delays that have accompanied it. Many reports seem to indicate the industry is not fully prepared for implementation, and that there is still a lot of confusion about what exactly using ICD-10 will look like. The biggest challenge physicians …
Current Best Practices for Healthcare Billing and Collection
In today’s healthcare world, it’s more important than ever for providers to make sure they are carefully following all of the best practice guidelines for billing and payment. Every year, uninsured hospital patients build up $49 billion in medical debt. In the United States, there is more money spent per person on healthcare than any other country in the world. …
Boosting the Performance of Your Healthcare System with an Integrated Revenue Cycle
One way that healthcare organizations are reducing expenses and boosting their financial performance—while continuing to meet the needs of patients and physicians—is through integrated revenue cycles (IRCs). There is no set definition for what an IRC should be, and it tends to vary depending on the organization and its particular needs. Generally, it allows for the greater collaboration of revenue …
Improving and Fine-Tuning Your Denials Management Processes
One of the realities of operating a health care practice is dealing with claim denials. This can be a major issue for some organizations, but there are some steps you can take to make your denials management system more efficient and effective. It all starts with establishing greater attention to detail. According to the 2013 National Health Insurer Report Card, …
