2018 was an overwhelming year for the US Healthcare RCM, to say the least. From CMS pressing on mass scale implementation of value-based care to the introduction of new bundled payment method BPCI Advanced, healthcare financial landscape saw the revolutionary transformation, which divided the industry experts into criticizers and appraisers of the same. The revenue … Read moreRCM 2019: WHAT TO LOOK OUT FOR?
Enforcing entire MACRA implementation is necessary to advance value-based care. Excluding providers from MIPS will only lead to lower payment adjustments for the healthcare practices and physicians providing quality based care to the patient, thereby defeating the purpose of value-based care. The aforementioned is a recent statement made by the AMGA with the intent to … Read moreMACRA MIPS: WHAT LIES AHEAD?
Automation ever since its introduction in the early 1900s has been rapidly disrupting various industries by minimizing the manual efforts, enhancing accuracy, paving the way for the workforce to better utilize their knowledge and skills towards growth and development. One of the industries massively transformed with automation is healthcare system, which post-digitization has gained more … Read moreAUTOMATE HEALTHCARE, ENHANCE PRODUCTIVITY
The American healthcare system has undergone significant change in the passing years. With the shift from fee for service to value-based care, every aspect of the healthcare system from service to account management system has been disrupted massively. But with the change impacting the reimbursement structure, taking the load off the payer as well as … Read moreFundamental: Bundled Payments in Healthcare
First, there was the need for healthcare; then it evolved into quality healthcare which could not be achieved without investing inordinately in the healthcare system. Then the inception of the digital revolution and the emergence of new technologies led to a reduction in healthcare expenditure. Digitization has undoubtedly transformed the healthcare sector making healthcare accessible … Read moreCyber Security In Healthcare
As the healthcare expenditure in the United States is skyrocketing with every passing year, so is the number of Americans getting themselves covered under health insurance policies. These health insurance policies regulated by the federal government keep evolving with the situation and the ever so evolving needs. While these healthcare reforms have a profound impact … Read moreMEDICARE 2019: IMPACT ON BILLING AND CODING
“If patients don’t know the cost of care and cannot see costs across providers they can’t seek the lowest cost as they can in any other industry,” Verma said in a phone call with reporters. “The lack of price transparency has resulted in a system that doesn’t allow patients to make value-based decisions based on … Read moreHealthcare Billing Transparency
Yes, hospital, clinics, doctors, healthcare professionals are responsible for keeping people in pink of their health, but they also need money to keep their medical practice financially healthy. This is where healthcare revenue management comes into the picture. Medical/healthcare revenue cycle management is a crucial element of medical service providers which is responsible to efficiently … Read moreMEDICAL RCM: AT A GLANCE
Ever-changing healthcare technology has a significant impact not only on enriching patients experience but also on how healthcare practices process. From the invention of stethoscope and anesthesia in the early 1800s, the journey of healthcare technology has been nothing short of amazing. Digitization has played a pivotal role in mitigating the roadblocks for an efficient … Read moreDIGITAL DISRUPTION IN HEALTHCARE
A minor error in medical transcription can cost a healthcare practice a fortune or even a possible lawsuit in case the documentation is severely flawed which is why outsourcing a medical transcription service from a credible billing and coding company like Medphine is a preferred choice by all healthcare providers. Not only this ensures accuracy … Read moreFATAL MEDICAL TRANSCRIPTIONS FALLACIES