Monthly Archives: April 2013

//April

Your Chances of Tax Audits Tied to Emergency Medicine Revenue Cycle Management

2013-04-30T10:14:23+00:00

Say the word “audit” out loud and practically everyone within earshot will stop in their tracks. Filled with fear of this possibility, physicians are among those who top the list, and rightly so. According to a March 15 Physicians Practice article by Philippa Kennealy, MD and Philip Garrett Panitz, Esq., the Internal Revenue Service (IRS)’s audit enforcement is increasing among physicians based on the perception they make easy targets as a result of poor record-keeping practices. “Most physicians in medical practice have received some training in reducing their malpractice risk, but little or nothing is taught about how to minimize the [...]

Your Chances of Tax Audits Tied to Emergency Medicine Revenue Cycle Management2013-04-30T10:14:23+00:00

New Assurances in 2013 Help Medical Practices Offset Risks in Revenue Cycle Management

2013-04-25T05:51:50+00:00

In your medical practice, cost benefit analyses determine many of the decisions you make. There’s one decision that can be particularly difficult…and downright paralyzing: realizing you need to make a change in healthcare revenue cycle management but not knowing if a new process will increase revenue… this time. Fear of transitioning medical coding, billing and collections processes is a valid one. Taking a chance once or twice with in-house revenue cycle management processes and seeing disappointing or even devastating results can make anyone hesitate to move in any direction. It’s no wonder that amidst all the risks facing medical practices today, [...]

New Assurances in 2013 Help Medical Practices Offset Risks in Revenue Cycle Management2013-04-25T05:51:50+00:00

Among All the Cuts, One Number Demonstrates Revenue Growth Potential: Your MedRev Index

2013-04-19T05:24:36+00:00

More than $1.2 trillion is federal spending is earmarked to be slashed in 2013, the sum total of sequester cuts mandated by the 2011 Budget Control Act. A percentage of your reimbursement is included in that number. Did that get your attention? While Medicaid is exempt from the reductions, but Medicare payments to doctors and others for inpatient and outpatient services will be reduced by 2%, or roughly $11 billion for the year. The Dept. of Health and Human Services will spread out the remainder of the cuts among its various other agencies. Account 2013 cut (in millions) Medicare inpatient program [...]

Among All the Cuts, One Number Demonstrates Revenue Growth Potential: Your MedRev Index2013-04-19T05:24:36+00:00

Low Patient Engagement Contributes to Rising Healthcare Costs and Greater Need for Orthopedic Surgery Revenue Cycle Management

2013-04-16T02:09:24+00:00

Among the biggest objectives for any orthopedic surgery practice is to maximize patient engagement and reduce healthcare costs (both for patients and providers). It just so happens one impacts the other. The following Power Your Practice article explains the tie: Though electronic medical record software has helped practices streamline workflows, automate healthcare revenue cycle processes, and better manage patient care, health IT systems cannot revolutionize the healthcare industry on their own. Medical professionals must also make a greater effort to engage patients and make them more active participants in their health. The reason this is important is that patient engagement is [...]

Low Patient Engagement Contributes to Rising Healthcare Costs and Greater Need for Orthopedic Surgery Revenue Cycle Management2013-04-16T02:09:24+00:00

Revenue Bridge Needed Now, More Than Ever, to Bridge the Widening Gap in Physician Practice Revenue

2013-04-12T08:16:09+00:00

Reimbursement rates are dropping while costs to operate a healthcare practice are rising. So where’s a revenue bridge when you need one? According to a March 11 report in Physicians Practice, an online publication produced by the American Medical Association, did you know? Medicare has increased doctors' rates by only 4% since 2001, while the cost of operating a practice has risen by more than 20%. The austerity approach also will affect the overall U.S. economy, according to official budget projections. The gross domestic product would be expected to grow at a 0.6% faster rate if sequestration were eliminated. The AMA, [...]

Revenue Bridge Needed Now, More Than Ever, to Bridge the Widening Gap in Physician Practice Revenue2013-04-12T08:16:09+00:00

Doctors will Feel Medicare Reimbursement Cut of 2 Percent Beginning in April – Assured Return Offers Revenue Assurances

2013-04-10T08:33:48+00:00

This year’s April date is no joke, to be sure. That’s because April 1 marks the day Medicare will start paying doctors less for treating beneficiaries under an automatic budget-cutting provision that took effect March 1, as reported in the American Medical Association’s amednews on March 11. According to the article: “Washington Physicians caring for Medicare patients said their practices will find keeping up with government mandates and the increasing demand for services more difficult once a 2% rate cut hits starting April 1. “The consequences of Congress and the White House failing to strike a deal to prevent spending reductions [...]

Doctors will Feel Medicare Reimbursement Cut of 2 Percent Beginning in April – Assured Return Offers Revenue Assurances2013-04-10T08:33:48+00:00

Reimbursement Concerns Heighten Need for Expertise in Diagnostic Radiology Revenue Cycle Management

2013-04-08T06:05:50+00:00

It’s a critical juncture for diagnostic radiology groups, a time when the level of expertise of your Diagnostic Radiology revenue cycle management can literally make or break your practice. That’s because according to Congressional radiology leaders in a March 1 online article from Radiological Society of North America, “the latest Congressional cuts targeting imaging are “Draconian” and could limit patient access to quality imaging care not to mention stymie research. Following are excerpts from the online article: “In passing the 2012 American Taxpayer Relief Act (ATRA), the so-called “fiscal cliff” legislation, on Jan. 1, Congress bypassed a U.S. Centers for Medicare [...]

Reimbursement Concerns Heighten Need for Expertise in Diagnostic Radiology Revenue Cycle Management2013-04-08T06:05:50+00:00

Unique Coding Fluctuations Require Unique Expertise in Urology Revenue Cycle Management

2013-04-04T02:24:52+00:00

Urology coding is unique, especially with the continuous stream of industry changes and evolving compliance standards in urology revenue cycle management. Keeping up with all these changes is a 24/7 job by itself not to mention implementing all of them. You hate to admit it but some most likely fall through the cracks. Vigilance is key. Some coding changes that occurred in September 2012 related to avoidance of unbundling instillation, in/out catheter, and they bear repeating to ensure compliance and address those questions many urologists may still be pondering about coding for instillation based on the drug being used and charge [...]

Unique Coding Fluctuations Require Unique Expertise in Urology Revenue Cycle Management2013-04-04T02:24:52+00:00