How ICD-10 will affect your practice
Medical Economics Share
Before you can understand the changes needed to become compliant, it is important to understand the reasons behind the implementation of ICD-10. The transition from ICD-9 to ICD-10 was approved for several reasons, including improved reporting, tracking and reimbursement. To ease the fear of the unknown, inform and make sure that your staff members are aware of the progression of this process and have a detailed knowledge of how it will be implemented. More
Upcoming webinar: The 5010 Transition, Progress as Promised
When: Nov. 9, 1:30-3:30 p.m. EDT
Speakers: David Dyke, Vice President of Revenue Cycle Solutions of Relay Health
Program focus: This intermediate/advanced level session will provide insight into the testing and transition progress of the industry as the deadlines approach. Specific focus will be made on progress across the industry, changes across the transaction sets, testing and lessons learned (so far).
Registration info: Payment must be received on or before Oct. 26. You will receive your confirmation and handouts via email by Nov. 2. You may download the full description and printable registration form here.
HBMA: Time to define 'HIPAA 5010 ready'
Government Health IT Share
The deadline for HIPAA 5010 compliance is knocking at the door but there is confusion, even at this late date, about what "readiness" means, says the Healthcare Billing & Management Association. To remove the confusion, HBMA, a non-profit educational resource and advocacy group representing third-party medical billers and billing professionals, submitted to the Centers for Medicare & Medicaid Services earlier this month a standard definition of 5010 readiness. More
Re-engineering billing: Spending less to collect more
Manage My Practice Share
How does a medical practice meet the patients' healthcare needs while operating a highly-regulated business on less income? Start by examining one of the most expensive processes in the practice — billing. Billing requires skilled employees, sophisticated technology, and constant vigilance from everyone in the office. Let’s explore processes that can reduce your billing expense as well as increase your collection percentage. More
IOM panel: Insurance exchanges will fail unless cost factor is faced
American Medical News Share
Federal officials must balance cost and comprehensiveness when crafting the minimum benefits package required for health insurance exchange plans, according to an advisory group. Otherwise, these coverage expansions in the health system reform law will fall short. More
8 steps to prepare for transition to ICD-10
Modern Medicine Share
Has your practice begun planning for the ICD-10 transition? If the answer is "no," you aren't alone, but you should be aware of the penalty for failing to meet the deadline of October 1, 2013: Your payments will not be processed. With the exception of hospitals, most healthcare organizations are still in the earliest stages of addressing the changes ICD-10 will require. Only 7 percent have completed an impact assessment, and just 5 percent have an implementation budget. More
CMS launches Innovation Advisors program
Center for Medicare & Medicaid Innovation Share
Centers for Medicare & Medicaid Services has launched its Innovation Advisors program, which will recruit about 200 professionals, including physicians, nurses, executives and practice managers to research new models of delivery for Medicare, Medicaid and CHIP. More
Could ICD-10 have as big a financial impact as the mortgage crisis?
Government Health IT Share
U.S. national healthcare expenditures are $2.7 trillion in 2011 and are forecasted to grow 34 percent in five years. This multi-trillion dollar economy will shift its reimbursement paradigm to ICD-10 in under 24 months. ICD-10 will introduce opportunities and risks to hospitals and health plans that may be equivalent to the $148.2 billion to $500 billion in losses to the U.S. economy in the mortgage crisis. This is because ICD-10 introduces favorable and unfavorable reimbursement results. More
Break the silos for successful ICD-10 transition
Despite a deadline that is roughly two years away, providers throughout the nation are in scramble mode to prepare for the change from ICD-9 to ICD-10. But providers aren't the only ones impacted by the coding switch, as both vendors and payers also are feeling the crunch. And while each has their own plan of attack, all three must learn to work together to ensure a smooth transition in October 2013. More
Medicine creating more jobs than any other field
American Medical News Share
Healthcare positions were a driver behind better-than-expected job statistics for September. The monthly employment report issued Oct. 7 by the U.S. Bureau of Labor Statistics found that 103,000 jobs were added in September. About 85 percent of the gain came from the return of 45,000 striking Verizon Communications workers and 43,800 jobs created in healthcare — more than any other monthly total in 2011. The growth included 12,200 new jobs in physician offices and 13,300 in hospitals. More
Why do patients with minor complaints prefer emergency departments over primary care physicians?
Annals of Emergency Medicine Share
Emergency departments are increasingly seeing patients with minor medical complaints. Of 400 patients surveyed, 20.6 percent did not have access to a PCP. Of the remaining patients, 56.6 percent had considered going to primary care for their presenting complaints, and 47.5 percent had called a doctor prior to ED arrival. More
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