Medicare Shared Savings Program A New Approach for Cost Calculations
An announcement released on June 6 by the Centers for Medicare and Medicaid Services revealed the Medicare Shared Savings Program is going to gradually introduce a new approach for cost calculations beginning January 1, 2017. The new cost calculations will be based on regional healthcare trends as opposed to national spending trends in the second... Read More →
MACRA Implementation: Are You Prepared for It?
The implementation of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) permanently replaced Medicare’s Sustainable Growth Rate (SGR) formula. This law changes Medicare payment reimbursements, moving away from a volume-based system to better align with a quality-based system. Physician practices of all sizes, including small physician practices, will need to prepare for the... Read More →
Prior Authorization: An Inefficient Nightmare or Essential Burden?
In the healthcare industry, everyone recognizes that prior authorization (PA), while required by insurance companies, has become an inefficient nightmare. Championed as a cost-savings feature, its intention was to prevent improper use of drugs when there may be a better choice available. However, not only is it proving to be increasingly more of a burden... Read More →
The Government Accountability Office (GAO) Report on Medicare’s Efforts to Curb Backlog of Appeals
The GAO Reports Medicare’s Efforts to Curb Backlog of Appeals Not Sufficient! In spite of Medicare’s attempts to decrease the quantity of Medicare appeals, numerous health care providers and patients continue to file denial appeals, causing a rapid increase in the system, which has created the resulting backlog. The Government Accountability Office (GAO) released a report... Read More →
Efforts to Minimize Medicare Backlog not Sufficient
In spite of Medicare’s attempts to decrease the quantity of Medicare appeals, numerous health care providers and patients continue to file denial appeals, causing a rapid increase in the system, which has created the resulting backlog. The Government Accountability Office (GAO) released a report on June 9, which analyzed the increased number of appeals in... Read More →
A shift in healthcare – Seventy-four Percent report increase in Patient Financial Responsibility
In a report by InstaMed, regarding healthcare payment trends in 2015, it found that a staggering 74 percent of healthcare providers reported an increase in patient responsibility. It discovered that 2 out of 3 consumers prefer to pay their premiums online and 9 out of 10 want to know their payment responsibility prior to being... Read More →
Small Physician Practices do have a Future
With the recent changes regarding reimbursements to physicians for medical treatment of patients, moving away from a fee-for-service payment system to a value-based payment system, many are left speculating what this means for smaller physician practices. Will there be room for smaller practices or will the system benefit larger practices leaving the others behind? MACRA... Read More →
Rev-Ignition Relocates Headquarters to San Antonio Texas
FOR IMMEDIATE RELEASE July 22, 2016 REV-IGNITION RELOCATES HEADQUARTERS TO SAN ANTONIO – California company makes the move to Texas- SAN ANTONIO, TEXAS (July 22, 2016) – Founded in 2013, Rev-Ignition is relocating their headquarters from Ontario, California to San Antonio as the company looks to expand its operation. Rev-Ignition expects to hire more than 25 people... Read More →
Only Three percent of hospitals meet CMS target for Value-Based Care
A survey conducted by Health Catalyst discovered that only 3 percent of hospitals meet the target, set by the Centers for Medicare and Medicaid Services (CMS), for value-based care. Additionally, a mere 23 percent anticipate reaching the target by 2019, one year later and a lower percentage than expected by CMS. Originally, CMS expected half... Read More →
Avoiding denials: 5 ways to improve claims reimbursement
Claim denials account for a staggering amount of lost revenue annually for most healthcare providers. “Industry experts estimate that 25-30% of all healthcare claims are denied or rejected,” says Healthcare Reports, “with a typical loss of 2-6% of the facility’s net revenue each year attributed to denials.” The loss of revenue in the case of... Read More →