If any individual in the C-suite will feel the effects of ICD-10 most prominently, it will be the hospital CFO. As reported in Becker's Hospital Review, October 2015, in a article by Kelly Whittle, MS, Principal, ICD-1 0 Advisory and Whittle Advisors, LLC, the top 4 issues faced by hospital CFO will include. Significant productivity [...]
Doctors, insurers and hospitals are preparing themselves for possible business disruptions on Oct. 1. This is when ICD-10 hits, a massive new set of codes meant to describe any illness or injury. Under ICD-10, cardiologists will have over 800 codes for describing angioplasty. Dermatologists will have 8 different types of acne. Gastroenterologists who aren't sure what's [...]
Starting October 1st, physicians and hospitals will have to be far more specific than ever before when diagnosing problems from visits. Because of this change to the system, called ICD-10, patients should expect longer than usual times to be billed for their portion. This may even add waits to the doctor's office when visiting. To [...]
California Medical Association (CMA ALERT) - The CMS announced that a 0.5% increase will be made for Medicare reimbursement rates, which are effective starting July 1, 2015 to December 31, 2015. The increase to Medicare reimbursement rates is an effect of the Medicare Access and CHIP Reauthorization Act, signed in April 2015. CMS has released [...]
For one year past the Oct. 1, 2015 deadline, the CMS will reimburse for wrongly coded claims as long as that erroneous code is in the same broad family as the right one. There had been concerns among providers that they wouldn't be paid if they made minor mistakes trying to implement the new complex [...]
A four-month Medicare fraud crackdown targeting ambulance service fraud has resulted in 11 New Jersey-based ambulance service providers relinquishing their licenses this year, according to the New Jersey Department of Health. However, as many as 20 to 25 companies reportedly have closed, remaining providers say. The Garden State costs Medicare more than any other state for [...]
WASHINGTON--The government recovered $3.3 billion in fiscal 2014 from individuals and companies that tried to defraud federal health programs, part of an effort by the Obama administration to improve enforcement and prevent abusive billing practices. The administration recovered $7.70 for every dollar spent investigating health-care-related fraud and abuse in the past three years, according to [...]
This article by EHR Intelligence https://ehrintelligence.com points out theat there are a lot of reasons for healthcare professionals to dislike the notion of ICD-10. Further, recent surveys point out that although physicians may be jittery about the unknowns of ICD-10, they aren’t necessarily being proactive about addressing them. ICD-10 will require effort, but the industry has been [...]
Announced in the Wall Street Journal on Dec 3, 2014, the Obama administration has strengthened Medicare’s authority to kick doctors and other medical providers out of the federal program for abusively billing the government. Here's a quick summary of the key points / changes in this important federal program: move represents a significant shift in [...]
Announced in the Wall Street Journal on Dec 3, 2014, the Obama administration has strengthened Medicare’s authority to kick doctors and other medical providers out of the federal program for abusively billing the government. Here's a quick summary of the key points / changes in this important federal program: move represents a significant shift in [...]
