MedRev Index

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 [...]

You've heard the old adage "cash is king." Many believe it's the sole indicator of financial health for their practice's healthcare revenue cycle management. What may come as a surprise is that cash flow isn't the only measure of medical practice billing profitability that reigns supreme. You may know how your medical practice coding, billing and collections is doing at this moment, but are you aware of how well your practice should be doing? The unknowns surrounding Healthcare Reform, including reimbursement levels, ICD-10 and more, can cloud perceptions and contribute to growing confusion about your true revenue potential. To maximize practice [...]

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 [...]

The clock is ticking, and with each passing minute is a lost opportunity to capture revenue. Challenges are increasing for medical practices to capture reimbursement from their healthcare revenue cycle management. But do they fully realize just how much better the reimbursement opportunities can be? At a time when more doctors are feeling more financial pressures and trying to optimize their medical coding, billing and collections, knowing what their opportunities are to build revenue is more critical than ever. According to a June 2012 online article from CNN Money, “Doctors, especially those operating private practices, said their financial hardship is increasing, [...]

It goes without saying that measuring a medical practice’s revenue cycle management is essential to the ongoing success of a practice. But it takes more than measuring revenue performance to ensure the success of your medical coding, billing and collections. Measuring revenue potential also is a critical component that many practices can miss in the overall equation. Let’s begin with revenue performance. HFMA recently updated the MAP Keys for Physician Practice Management, utilized by physician practices, hospitals and health systems to measure performance, apply evidence-based strategies for improvement and perform to the highest standards. These keys were created by healthcare leaders [...]