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Latest Updates on Medical Billing

Latest Updates on Medical Billing

Employment opportunities for medical billing and coding professionals like technicians, coders, billers, etc. are expected to soar high now. The Bureau of Labor Statistics (BLS) estimates a 22% hike in medical billing and coding jobs from 2012 to 2022, where the number of employment in the former is around 186,000 and 227,000 in the latter. Leading business magazine, Forbes reports the US healthcare industry is worth three trillion dollars in the beginning of 2015. Affordable

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The Centers for Disease Control and Prevention reported more than 90 percent of Americans have health insurance, according to Forbes. Here are five things to know: 1. Approximately 16 million more Americans are insured in 2015 than 2013. 2. Experts project the uninsured rate will continue to decease as enrollment in the ACA exchanges and Medicaid increases. 3. The uninsured rate has decreased from 18.5 percent in 2013 to 10.5 percent in 2015 for those

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A medical facility bustling with patients is a lucrative thing for any clinic or hospital but it comes with a responsibility much more than just providing quality care services. The most essential thing that patients look for while visiting a physician is the personal attention and amount of time the physician spends with them. It is reported that 2015 is going to be tough on physicians as they will have to multitask and get involved

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The global revenue cycle management system (RCM) market is estimated to grow at a CAGR of 6.9% from 2014 to 2019. North America holds the highest market share of 52.6% in 2014, followed by Europe. The global revenue cycle management system (RCM) market holds a high growth potential owing to a number of factors favoring this market. The consolidation of healthcare providers, initiative taken by governmental bodies for implementing revenue cycle management system solutions, and

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Speculations are rife and increasing every passing month as the ICD-10 deadline approaches in the last quarter of 2015. The US government wants its healthcare industry to be all set for implementing the new and advanced coding standard but many providers are apprehensive and still weighing if this is going to be a favorable change or otherwise. Purpose of ICD-10 Before we start weighing the pros and cons of the new coding standard, the upgraded

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Clichéd as it may sound US physicians are still struggling to get a strong hold on their financial health in the wake of the healthcare changes and implementation of the Affordable Care Act (ACA). 2015 is all set to transform the face of healthcare industry in terms of administrative tasks, documentation process, quality of care, ICD-10 and one of the major challenges, the Medicare pay cuts. Running a medical facility center is not a matter

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As long as things go smoothly from their perspective, most patients have little knowledge and less interest in medical billing, so it is probably not necessary to mention the ICD-10 transition to your patients. It might even be a bad idea. “Explaining to patients ICD-10’s requirements for additional documentation could cause them to wonder if documentation was lacking in the past,” said Barbie Hays, coding and compliance strategist for the American Academy of Family Physicians.

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As the October 1, 2015 deadline for the transition to the ICD-10 coding system quickly approaches, many healthcare providers are anxious about the switch. Now, the Centers for Medicare and Medicaid Services has announced it will reimburse for incorrectly-coded claims under the Part B physician fee schedule, providing that the incorrect code is from the right family. Under the new measures, CMS indicated it plans to establish a one-year grace period in which it will

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The US healthcare industry is pitched at around three trillion dollars & is growing, according to Fortune, a leading global business magazine. Increasing healthcare reforms and lack of skilled medical back-end staff like billers and coders are giving the physicians a tough time to maintain their revenue. Even though scores of medical practices in the US are trying out outsourcing their medical billing many physicians are still skeptical about adopting this unconventional method. A Physician’s

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This month, the Medical Group Management Association released the results of a questionnaire that ranked members’ most pressing practice-management challenges. In this edition of “Practice Makes Perfect,” we’ll tackle No. 5 on that list: preparing for the transition to ICD-10 diagnosis coding. As the Oct. 1 ICD-10 compliance date draws closer, physician practices are becoming increasingly concerned about the readiness of their internal processes and external trading partners. Despite the CMS’ recent policy modification—not denying

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