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Latest Updates on Medical Billing

Latest Updates on Medical Billing

The Centers for Medicare and Medicaid Services’ scheduled switch next month to a larger set of medical billing codes could ease Medicare secondary payer compliance for workers compensation claims.“The amount of detail it will provide the workers comp community will be amazing compared to what we’ve been using before,” said Rafael Gonzalez, Tampa, Florida-based vice president of strategic solutions at Helios Settlement Solutions, a unit of pharmacy benefit manager Helios. The International Classification of Diseases

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On Oct. 1, Medicaid programs in California and three states will not be fully converting from the ICD-9 to the ICD-10 coding system, as nearly everyone else is federally mandated to do. Instead, they have received CMS approval to take incoming claims coded in the new ICD-10 system, convert them into ICD-9 codes, and use the older system to calculate payments to healthcare providers. Provider groups and health IT experts warn there are risks of

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With one month left until healthcare organizations must begin using ICD-10, 57 percent of respondents to a recent survey say they still are not on track to meet the Oct. 1 deadline. Still, 85 percent say they’ll be ready on time, according to healthcare billing company Navicure. Forty-three percent of organizations responding to the survey, meanwhile, say they are on track to meet the deadline. About 6 percent of those currently not ready say they

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If things are a bit tense in your doctor’s office come Oct. 1, some behind-the-scenes red tape could be to blame. That’s the day when the nation’s physicians and hospitals must start using a massive new coding system to describe your visit on insurance claims so they get paid. Today, U.S. health providers use a system of roughly 14,000 codes to designate a diagnosis — for reimbursement purposes and in medical databases. The updated system

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Outsourcing medical billing has caught up hugely with providers as it is the most cost effective option for at least maintaining a steady revenue if not increase it. Bottom-lines of medical practices are sinking due to various reasons and it is one of the most worrying issues for practices currently. For ensuring guaranteed results, healthcare providers should select an appropriate and able medical billing partner. Here’s how you can do it: Experience in Handling Specialty

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The revenue cycle management process might be the hottest topic in healthcare as consumerism and changes to payment models bring big shifts in how systems get paid. “The increase in consumer financial responsibility is the number one issue,” said Stuart Hanson, chair of the HIMSS Revenue Cycle Improvement Task Force. “We’ve seen this flood of consumers with high-deductible health plans, whether they came from a public or private exchange, or their employer,” he said. “Providers

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Revenue collection is the backbone of every business but it is more so in the case of medical practices as they cannot stop attending patients all of a sudden and the depletion of money is slow and steady. This makes it difficult to detect and gain control over finances. It is thus extremely important to keep a tab and analyze the revenue cycle regularly. An outsourced medical billing service helps providers reduce their administrative and

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CHARLOTTE, N.C.–(BUSINESS WIRE)–Frontier Capital, a growth equity firm focused exclusively on software and technology-enabled business services companies, today announced a $16 million growth investment in Aviacode. “Frontier’s investment will help us to provide that technology to an even greater number of healthcare organizations. Additionally, we’ll be able to expand our sales and marketing efforts to better respond to the need for our services.” Aviacode, a Salt Lake City, Utah-based provider of software-enabled medical coding services

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LONDON, Aug. 27, 2015 /PRNewswire/ — About Global Medical Billing Outsourcing Globally, healthcare spending is expected to increase, which will put additional pressure on healthcare delivery systems, governments, and insurers. The major reasons for increased spending in developed countries are an aging population and lower fertility rate; in emerging countries, it is the lack of infrastructure, increase in chronic diseases, and inequality in availability of patient care. Over the years, healthcare enterprises worldwide have become

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With the heat on physician practices to prepare for the impending ICD-10 implementation date, two analysts discuss how best to avoid negative outcomes. The ICD-10 implementation date is coming and there’s no avoiding it. As healthcare organizations try to prepare themselves the best they can, physician practices in particular may be feeling the pressure. Two experts weigh in on how physician practices can ensure readiness and offer some ideas for ways to prepare. Clinical documentation

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