The Commonwealth Fund released a report this week that revealed that the U.S. Healthcare System performs the worst- across the board – compared to other healthcare systems in the developed world.
The best bad debt collection strategy utilizes three leverages, which "motivate" patients to pay a delinquent bill. 1. Independent Third-Party | Collection Leverage The first is the involvement of an independent third-party. Collection agencies create a situation where the debtor may or may not know what the collection agency is going to do to collect the debt. I call this the threat of the unknown. This creates an environment, which motivates some account holders to resolve their debt quickly and amicably.
The U.S. Healthare System is moving toward unifying physician compensation methods, but we’re not there yet. If you’ve ever tried to understand all the various methods by which doctors are paid in the U.S. and found yourself completely and utterly baffled, you’re not alone. Here’s a handy guide to help you understand the various methods by which physicians can be paid.
U.S. based healthcare BPO companies in the Philippines and other countries are contributing to economic growth and prosperity around the globe. The financial benefit offshore BPO companies create extends beyond the host country. U.S. based employees benefit because there is a need to manage the services delivered through offshore locations in the U.S. The American worker is not the only one who benefits from a growing global strategy. U.S. Healthcare providers who use cost-effective offshore strategies benefit in several ways: - Delivery of services, such as medical coding can keep up with healthcare’s growing demand, even though there aren’t enough qualified U.S. employees to fill those highly skilled jobs - Providers benefit by reducing operating costs so existing services can be delivered at the same level without resorting to employee layoffs - U.S. citizens benefit by receiving better care because providers can leverage operating costs savings and invest in advanced technologies and the best and brightest care providers
Are you one of many hospitals being dinged with CMS penalties? Are you ready to be dinged for Hospital Acquired Conditions, in addition to readmissions and value-based purchasing? How can a hospital remain profitable? In terms of hockey, the penalty box is where players are sent when they have committed an act which is against the regulations of the game. The player is forced to sit in the penalty box for a period of time, causing the team to play with less players, until the penalty time has lapsed.
Historically, HMOs are notorious for incurring poor health among patients and bolstering already bloated administrative costs. When healthcare reform was on the horizon, the promise of Accountable Care Organizations in lieu of traditional HMOs lifted the wilted spirits of doctors and patients alike. A few years of ACOs, however, seems to have done little to assuage the initial fears of these groups that ACOs are just nicely dressed HMOs.
There are many reasons a claim might be denied, but did you know that many of them are actually simple oversights that can easily be corrected? Check your denials against this list to see how many preventable errors might be costing your hospital money.
This week the New York Times ran an article about the top earners in healthcare- and perhaps a surprise to none, doctors did not top that list: administrators did.
Physician practices may be lagging behind hospitals when it comes to implementing coding software. The hesitation to do so is costing them not only efficiency in coding, but reimbursements withheld due to avoidable errors.
Summary: Do you understand Relative Value Units (RVUs) as they relate to Medicare reimbursement? Is your physician compensation model based upon RVUs or a derivative thereof? What is an RVU? RVU stands for Relative Value Unit and is currently used by Medicare to determine the amount of reimbursement to providers. RVUs are basically a way of standardizing and comparing service volumes across all continuums.