| Account | 2013 cut (in millions) |
| Medicare inpatient program | $5,752 |
| Medicare outpatient program | $5,330 |
| National Institutes of Health | $1,553 |
| Medicare prescription drug program | $588 |
| Children and families services programs | $503 |
| Health Resources and Services Administration | $365 |
| Centers for Disease Control and Prevention | $289 |
| Food and Drug Administration | $209 |
| Indian Health Service | $198 |
| Substance Abuse and Mental Health Services Administration | $168 |
| Administration for Community Living | $75 |
| Health care fraud and abuse control account | $57 |
| Prevention and public health fund | $51 |
Source: “OMB Report to the Congress on the Joint Committee Sequestration for Fiscal Year 2013,” White House Office of Management and Budget, March 1
Take heart, because there’s one number that shows great potential for increasing your bottom line: Your MedRev Index.
The MedRev Index is a new dashboard tool that serves as a critical benchmark for medical practices today.
The MedRev Index is a meta average for your specific practice and discipline that uses a formula and produces an index actionable number. Customized according to your geography and specialty, this algorithm-driven index serves as a benchmark, driving revenue optimization beginning with a revenue performance comparison with others in your specialty.
This number can serve as a “eureka” moment for your practice’s revenue cycle management, because it represents the delta between your practice’s revenue cycle management proficiency and the average for your industry group with similar practice size and patient payer makeup. The number is derived from the tabulation of your practice’s key performance indicators. By answering less than 10 quick questions from the privacy of your internal connection, you can see the potential improvements to your practice’s bottom line and medical coding, billing and collections process – in a matter of seconds (less time than it takes to fix your sluggish electronic devices).
Uncovering that number is the first step. Doctors are then connected to an entire cadre of support to increase their bottom line on average 19 percent in most cases and:
- Further demonstrates full revenue cycle practice potential
- Develops a revenue cycle management plan for success
- Empowers practices to ensure they achieve it
revMD.com is the results-proven alternative for healthcare revenue cycle management, with a niche specialization in medical coding and billing that generates unprecedented results and builds profitable medical practices. Leveraging a history of industry wide success spanning 25 years, revMD.com partners with medical practices throughout the U.S. to optimize revenue for hospital based and practice based physicians. For more information, visit www.revmd.com.