MedRev Index

/MedRev Index

ICD-10 Denial Risks Need the Medical Practice Billing Assurances of MedRev Index

2013-10-23T11:03:49+00:00

For you and your medical practice coding, billing and collections, the impact of the oncoming ICD-10 transition might just be seen as an oncoming freight train when demonstrated with these sobering numerical facts: 68,000 diagnostic codes 87,000 procedure codes Denial rates potentially increasing between 100 and 200 percent AR days increasing by 20 to 40 percent Almost twice the claim error rate [space height="10"] But there's one number that actually can help protect your practice, and your bottom line, from these vulnerabilities that may occur during the months following the Oct. 1, 2014 "go live." That's the number you probably never [...]

ICD-10 Denial Risks Need the Medical Practice Billing Assurances of MedRev Index2013-10-23T11:03:49+00:00

PQRS and MedRev Index: Two Separate Ways to Glean All the Revenue You’re Due

2013-09-19T15:20:53+00:00

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 [...]

PQRS and MedRev Index: Two Separate Ways to Glean All the Revenue You’re Due2013-09-19T15:20:53+00:00

Details, Details! Full Revenue Potential from Medical Coding, Billing Can Be Missed Without MedRev Index

2013-09-12T10:26:13+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 [...]

Details, Details! Full Revenue Potential from Medical Coding, Billing Can Be Missed Without MedRev Index2013-09-12T10:26:13+00:00

MedRev Index Tops List of Financial Growth Indicators for Optimal Medical Practice Billing

2013-08-13T09:05:53+00:00

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 [...]

MedRev Index Tops List of Financial Growth Indicators for Optimal Medical Practice Billing2013-08-13T09:05:53+00:00

MedRev Index Harnesses the Power of Your Medical Practice Revenue Cycle Management During ICD-10 Transition

2013-06-04T09:07:43+00:00

As your practice prepares for the ICD-10 conversion, your medical practice revenue cycle management and ultimately your bottom line hang in the balance. Revenue stream needs to continue uninterrupted before, during and after the Oct. 1, 2014 ICD-10 conversion deadline. But how is this possible when the ICD-10 conversion means significant changes to office procedures that can affect every aspect of business operations including your medical practice billing and coding? Medical record documentation will increase too. You and coders will need to collect and document more data on patients to justify all codes submitted for claims. During this conversion, said to [...]

MedRev Index Harnesses the Power of Your Medical Practice Revenue Cycle Management During ICD-10 Transition2013-06-04T09:07:43+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

Potential to Generate New Revenue through Revenue Cycle Management helps Medical Practices Counter Financial Hardships

2013-03-29T04:16:49+00:00

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, [...]

Potential to Generate New Revenue through Revenue Cycle Management helps Medical Practices Counter Financial Hardships2013-03-29T04:16:49+00:00

Keys to Successful Revenue Cycle Management: Revenue Performance and Revenue Potential

2013-03-18T12:10:30+00:00

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 [...]

Keys to Successful Revenue Cycle Management: Revenue Performance and Revenue Potential2013-03-18T12:10:30+00:00

The New Benchmark: MedRev Index Measures Revenue Cycle Management Reimbursement Potential

2013-02-19T15:57:26+00:00

The new benchmark: MedRev Index measures revenue cycle management reimbursement potential Chances are, you’ve heard the adage “You can’t manage what you can’t measure,” which underscores the importance of the dashboard as a tool to capture key pieces of data for your practice and demonstrate its overall health and viability.No doubt, you’re connected to the many dashboards out there. In addition to all the dashboards that measure physician performance, there are also those that serves as a reliable means to document investment per physician and gauge effective group staffing.Then there’s one that stands apart from the rest, a dashboard that serves [...]

The New Benchmark: MedRev Index Measures Revenue Cycle Management Reimbursement Potential2013-02-19T15:57:26+00:00

MedRev Index Demonstrates Full Revenue Cycle Management Potential

2012-09-21T11:22:30+00:00

What takes most medical practices weeks or even months to discover can now be realized in a matter of seconds: the potential for your medical practice revenue to grow – substantially – on average more than 19%. In today's healthcare climate, a myriad of factors can impact reimbursements and overall revenue collections. The current economic slowdown nationally is squarely hitting the bottom line of medical practices nationwide. Traditional ways of doing your medical billing, coding and collections don't work anymore, nor do traditional companies. That's why it takes an alternative in revenue cycle management – revMD – to get results. The [...]

MedRev Index Demonstrates Full Revenue Cycle Management Potential2012-09-21T11:22:30+00:00