Revenue Bridge

Let's face it, transitions are nerve racking, whether they are in life or in business. Many healthcare officials believe the 2,700 page Affordable Care Act (ACA), with its 12,000 pages of regulations, is leading to even more uncertainty. Just how will the transition to the ACA work, and how will appointed and career federal officials determine the law's final requirements? All of this uncertainty raises real concerns about how the new law will impact the most crucial element in any healthcare reform effort: physicians. That's why doctors are nervous about the new law and how it will affect their incomes, their [...]

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, [...]

When searching for a new medical billing company, what questions do you need to ask? There is a sea full of companies out there, and a boatload of risk unless you have the right healthcare revenue cycle management company uniquely qualified to work with you. For starters, narrow your search down by looking for one with niche specialization in medical coding, billing and collections that’s been around for many years and also offers services tailored to your needs including a no-risk transition of your A/R to avoid any possibility of revenue falling through the cracks. The following questions are recommended as [...]

Do you know what the biggest risks to your practices are? According to Matthew Smith from Health Directions in a September 2012 online article, they include: 1. Preparing for reimbursement models that place a greater share of financial risk on the practice 2. Participating in the CMS EHR meaningful use incentive program 3. Dealing with rising overhead costs 4. Selecting and implementing a new EHR system 5. Implementing and/or optimizing an accountable care organization 6. Managing finances with the uncertainty of Medicare reimbursement rates 7. Modifying the physician compensation formula to more heavily emphasize quality measures 8. Recruiting physicians 9. Negotiating [...]