Medical Billing Services | Medical Billing Company Checklist

The EMR Billing Specialists

Dont let 55,000 more Codes Faze you !

by 1 Comment

Is 10.1.2014 a Date set in Stone ?

Much to the consternation of physicians, according to the department of health and human services, it most certainly is. After frequent postponements, much hullabaloo and divided opinions, a date has been finally announced to make the transition.

Though the granularity in codes can lead to more clarity and a more structured coding system, most codes physicians fume, are never going to be used.

An Expensive Change !

Change comes with its own baggage. Now healthcare providers will have to make major changes to the infrastructure and workflow of their practice, to accommodate the revised coding system. One of the biggest roadblocks is to train staff and set up a testing schedule, amidst busy workdays. The slew of recent changes in healthcare informatics and billing regulations is going to leave physicians with little time to catch their breath.

What Defines ICD 10 ready ?

This is a question that stares at the face of every healthcare provider today. Most find working with codes that are not going to be of any purpose or use till 2014 a drain of time and human resources. But, the time to start gearing up for the change is, now !

Small Steps can make Huge Strides.

Small steps can shorten the path to adapting to an entirely new coding system. One easy way for medical practices, to stay ahead of the curve is to have a database of ICD10 codes that they’re most likely to use. This will get the “55,000 more codes” scare out of the way.

Assess the Impact of ICD 10 .

Performing a realistic and comprehensive assessment of the impact that ICD10 is going to have on your practice is essential. Draw a bucket-list of the aspects of your workflow that are going to undergo major change during the transition, and start a testing plan on them. Educate staff members or if you work with a vendor request for a detailed plan of action to deal with the onslaught of codes.

Being quick and informed can beat those deadline blues, and make your practice truly ICD-10  ready ! Whether you are planning on creating a training program for your team or ask your ICD-10 medical coding services company to set up an implementation plan, do it today !

How can Multispecialty Hospitals Tackle the Challenges Ahead?

by 1 Comment

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.