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The EMR Billing Specialists

Here is what you can do to Receive $44,000 !

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Getting ready for Stage Two ?

It is October. Time to get flu shots, hustle the kids to school for a new school year, and, yes concentrate on, mu! Qualifying for the stage two of meaningful use guidelines, is going to be tough for physicians. It is certainly no stroll in the park but it isn’t mission impossible either. The final regulations for meaningful use stage two emphasize on interoperability of data and more standardized data formats.

With 2014 drawing near it is time for the smart doc to plan ahead and gear up for the incentive !

Start with the lab…

Do you still run down the corridor to fetch x-rays ? A lab interface that can integrate with your existing emr or ehr can be helpful in qualifying for meaningful use. Lab data contains pertinent patient information and proper filing and documenting of patient records, is critical to attest for the mu incentive.

Several pac systems can integrate with ehrs and emrs. Pick one now and cast aside one major worry.

Are you Encrypting your Data ?

It is important that all personally identifiable health information is encrypted, when “not in use”. Ensure your vendors, staff and anybody who has access to your medical records, encrypts them.

Patient communication is going to be all important…

If you are a busy doctor who rushes through patient appointments, you’ll have to change the way you work. As expected meaningful use stage 2 raises the bar for patient engagement and communication. It is important that your patients are able to access their records and lab results. Asking your ehr vendor to set up a separate, password protected individual access, to patients can help in bettering patient communication.

A Mixed Bag !

The revised guidelines for stage 2 offer a mixed baggage for medical practitioners. It’s gone easy on several regulations that were proposed initially, such as reducing the number of patients, who have to be offered online access to medical information, from 10% to 5 %. But on the other hand has raised the bar for, ensuring patient communication and interoperability.

But it is widely believed to be, in the long run, not just a game changer but harbinger for a better and more secure healthcare environment.

Are you Receiving Billing Reports on Time?

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If your answer is no, here is why you should demand for one. Getting involved in the business side of medicine can be a nightmare, if you’re a busy doctor shuttling appointments. But going by the recent unhealthy trend of doctors being in the limelight for faulty billing, staying unaware of the financial state of your practice can be a costly mistake.

 On your Feet all day long but not Earning Enough…

Your appointment scheduling are choc-a-bloc and there is hardly enough time to breathe or do the laundry, but that just one indicator that you are running a successful practice. The other more important factor being how much you are earn at the end of the day. Entrusting the entire billing tasks to your in house biller or vendor can be prove to be a risky proposition in the long run.

All Fingers Point to the Physician !

It is unfair and crazy but every time there is a blooper it is the physician who is held at gunpoint. More often than not it is not planned embezzlement but simple oversights that can put your practice in the hot water.

Get that Financial Reporting System in Place !

The major hurdle for doctors and billers in setting up a reporting system is the lack of knowledge in implementing one. To start off create a dashboard of your key metrics. It can be revised, later on, to accommodate newer benchmarks and performance indicators set by you.

Here is what a Basic Checklist should consist of…

  • Ar reports that mention clearly the number of days in AR.
  • Insurance payment turnaround report.
  • A list of the contracted allowable for payment by insurers.
  • Monthly production and collection list.
  • The net collections of your practice.

Get it off the Ground, Today ! 

Demand for a financial report from your medical billing company or in-house biller to put your practice on the right track. It will help you analyze the financial performance of your practice, curb unhealthy trends, and finally know what your biller does !

How can Multispecialty Hospitals Tackle the Challenges Ahead?

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A busy multispecialty hospital resembles a war-zone. The audit issues, billing hassles and operational pitfalls faced by multispecialty hospital are more difficult to manage than the challenges thrown at single specialty hospitals. Office managers of multispecialty hospitals feel that they’ve bitten off more than they can chew. Keeping in line with almost unfair demands and regulations can be a nightmare.

 

Frequent Audits give Sleepless Nights  !

Facing billing audits can scare the daylights out of physicians. CMS has placed the onus on healthcare providers to create and maintain evidence based precise billing information. In a large scale set up the costs and infrastructure needed to maintain accurate medical documentation belongs to the realm of wistful dreams.

The billing regulations for each specialty, varies and a little slip-up can lead to the hospital being booked for fraud and abuse. But this not the only roadblock multispecialty hospitals face.

 Zeroing in on a Compensation Formula that works for Everyone…

Well, coming up with a compensation formula that makes everyone happy can be an uphill climb. Multispecialty hospitals have on board, specialists from different medical specialties, surgeons and imaging technicians. To come up with a compensation formula that is fair and in compliance with all regulatory controls, in today’s tough healthcare climate is almost next to impossible. It requires enormous amount of time and understanding to whip up a solution that makes everybody smile.

Is it the Best time to become a part of Multispecialty Groups ?

Surprisingly yes! According to the Great American Physician Survey an increasing number of physicians prefer employment than to start a practice of their own. This attitude shift is attributed to the responsibilities a medical practice owner is likely to face.

Working with Off Shore Firms…

Outsourcing medical billing needs is one way of ensuring profits and operational ease in a multispecialty set up. Hiring, training and monitoring large team of billing and coding professionals can only add up to expenses. To scale down on the efforts and money spent on the everyday workflow of a hospital, outsourcing is the preferred choice.

It will give doctors more time on their hands to fix a workable compensation formula, keep regular tabs on their workflow and keep abreast with changing guidelines and reforms. As most medical billing companies work round the clock the response time for additional documentation requests is swifter and being swift is best way to handle the challenges ahead for multispecialty hospitals.