ICD-10 preparedness is more than just about meeting the Oct. 1, 2014 implementation deadline, it's about the possible impact to your emergency medical practice revenue cycle management following the "go live" if you're not. There's talk about a possible increase in denial rates during the transition, which can reduce practice profitability, or possibly even bring it to a screeching halt. Denial rates potentially could increase between 100 and 200 percent, AR days increase by 20 to 40 percent, prolonged declining payments and a near doubling of claim error rates. ICD-10 has prompted a Y2K response. That's because the transition from ICD-9 [...]
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ICD-10 update: CMS will not perform end-to-end tests of ICD-10-CM and PCS fee-for-service (FFS) claims with providers before the conversion deadline of Oct. 1, 2014. Yes, you read that correctly. According to CMS, end-to-end testing was already performed when its 5010 data standard was implemented last year, and ICD-10-CM and PCS are code sets rather than mechanisms to manage the data. That means providers and payers are on their own for the most part to make sure ICD-10 codes will be reportable and payable. While CMS is doing internal testing, it won't be providing much support to providers. Not only does [...]
Oct. 15, 2013 is the deadline to register for the Centers for Medicare and Medicaid Services (CMS) Physician Value-PQRS (PV-PQRS) Registration System. It's a new application to serve the Physician Value Modifier and PQRS programs that, according to CMS, will allow: Physician group practices to select their CY 2013 PQRS Group Reporting Mechanism and, if the group has 100 or more eligible professionals, elect quality tiering to calculate their CY 2015 Value-based Payment Modifier Individual eligible professionals to select the CMS-calculated Administrative Claims reporting mechanism for CY 2013 in order to avoid the PQRS negative payment [space height="10"] If missed, this [...]
Avoid reduced payments impacting your orthopedic coding, billing and collections and ultimately your bottom line when you register for the Centers for Medicare and Medicaid Services (CMS) Physician Value-PQRS (PV-PQRS) Registration System by Oct. 15, 2013. PV-PQRS is a new application to serve the Physician Value Modifier and PQRS programs that, according to CMS, will allow: Physician group practices to select their CY 2013 PQRS Group Reporting Mechanism and, if the group has 100 or more eligible professionals, elect quality tiering to calculate their CY 2015 Value-based Payment Modifier Individual eligible professionals to select the CMS-calculated Administrative Claims reporting mechanism for [...]
Through AANS and CNS, neurosurgery has been at the forefront of discussions with CMS on the best way to implement payment and quality reform measures that include PQRS. They are advocating on behalf of neurosurgeons in order to ensure their ability to provide timely, compassionate, high quality and state of the art treatment for patients in need of neurosurgical care. These discussions are vital and while they continue, it's important to be aware of deadlines looming overhead that, if missed, could impact your physician medical billing and the financial health of your medical practice billing, coding and collections. Oct. 15, 2013 [...]
According to a recent survey conducted by QualiTest Group, three out of four healthcare providers are not meeting the recommended timeline for the switch to ICD-10 by Oct. 1, 2014. Are you counted among those who are not? Is the ICD-10 transition of your orthopedic coding and all other aspects of your medical revenue cycle management at risk? Many healthcare providers across the board think they still have a lot of time to complete the steps necessary including performing ICD-10 testing. Think again. That's because CMS will not be performing end-to-end testing of ICD-10-CM and PCS fee-for-service. End-to-end testing is a [...]
If you think you have lots of time yet to perform ICD-10 testing on your Radiation Oncology coding, billing and collections, think again. CMS will not be performing end-to-end testing of ICD-10-CM and PCS fee-for-service. That means there's added burden that rests squarely on your shoulders—unless you have an independent, third party medical coding and billing partner with special expertise in the ICD-10 transition. It's time to re-examine where you are in the process, and if additional support is needed to help you prepare and allocate adequate time to perform all the testing steps necessary to assure your readiness by Oct. [...]
Your revenue stream is dependent on several factors. Among them are the quality of your medical coding, billing and collections, your participation in the Physician Quality Reporting System (PQRS) and understanding just how your medical practice coding, billing and collections can reveal your true revenue potential. PQRS Incomplete information is the culprit often times when it comes to getting all the revenue you're due. With regard to the Physician Quality Reporting System (PQRS), incomplete quality reporting can lead to future penalties, starting in 2015, and reduced payments to physicians. Did you know physicians could lose up to a total of $1.3 [...]
As the heat is being turned up for both medical practice compliance and revenue streams, assurances are needed right now. Incomplete documentation significantly raises the risk for medical practice compliance audits. It's time for some assurances not only to reduce the risks for your practice but also stimulate its growth. Compliance Assurances The likelihood of compliance audits for medical practice revenue cycle management is rising steadily. If you've ever bemoaned the weight on your shoulders to provide more detailed documentation, now is a good time to be reminded of the increased risks to you and your practice if you don't. Take [...]
Details, Details! Full Revenue Potential from Medical Coding, Billing Can Be Missed Without MedRev Indexsam-mi2013-09-12T10:26:13+00:00
In a profession where the devil is in the details, it's surprising how many opportunities there are to miss them. Those details, or lack thereof, can impact compliance and... the financial health of your practice's medical practice billing and coding. Your compliance risk in medical coding and billing is increasing, especially as medical practices prepare for the transition to ICD-10 in October 2014. More detailed documentation a must. If you've ever bemoaned the weight on your shoulders to provide more detailed documentation to ensure compliance in your medical practice billing, now is a good time to be reminded of the increased [...]