New federal data finds that health care spending increased by 9.9 percent in the first quarter of 2014. According to data released Wednesday by the Bureau of Economics Analysis the recent rise in healthcare spending is the biggest jump since the third quarter of 1980.
If you have not heard by now, CMS has delayed ICD-10 implementation until October 2015. The delay either has you annoyed, doing a happy dance, or perhaps both. Already start your ICD-10 implementation phase? If so, it is crucial not to lose the ICD-10 momentum. If you have not implemented a plan yet, you are in luck! However the luck will run out so it is important that you take steps to prepare for the ICD-10 implementation. The thought of the switch alone is stressful but procrastination will only make the transition more difficult.
Whether a practice is small or large, employee turnover seems to be a main concern facing medical practices today. Not only is employee turnover in medical practices increasing the operating expenses, but it is also creating a damper on your patients’ relationships with your practice.
Still thinking about switching from paper charts to an EHR for your practice? If you are like most doctors still using paper, you probably think an EHR is either going to come in between you and your patients or is just too expensive. The start-up costs and implementation can be daunting for some. However, hanging onto your paper-based ways may not be as beneficial for your practice.
A successful medical practice needs a variety of reports and metrics to measure performance and make improvements as needed. GroupOne understands that many practices are facing financial challenges due to the changes that continue to take place in the healthcare industry. Monitoring the 5 measures mentioned below will provide insight into your practice’s performance.
If you are an eligible professional for the Medicare EHR Incentive Program, 2014 is the last year you can start participation in the Medicare EHR Incentive Program in order to receive incentive payments.
The 2014 Medicare Physician Fee Schedule (MPFS) final rule stipulated a negative update to the MPFS that was to be effective January 1, 2014. That reduction was averted for three months with the passage of the Pathway for SGR Reform Act of 2013, which provided for a 0.5 percent update for services paid under the MPFS through March 31, 2014.
Yesterday the House of Representatives passed legislation to delay the 24% physician fee schedule cut slated to take effect on April 1, 2014. However, the legislation did not stop there. A number of other changes were made that will have long-lasting implications. A listing of these changes is available at the end of this post.