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GroupOne Health Source Practice Management Blog

      

The GroupOne Health Source Blog

 Answers and Insights Every Healthcare Professional Needs.

 

2016 Physician Compensation Survey Results

by Keith Lage on November 9, 2016

This year's Physicians Practice Physician Compensation survey revealed some interesting insights into the financial burdens physicians are experiencing. The survey not only gathered insight into things like overhead costs and personal income but also touched on how practices have been affected by high-deductible insurance plans.

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Topics: Revenue Cycle Management, Medical Business, Physician Payment

4 of the Best MACRA Resources for Your Practice

by Jeff Jones, CPHP on November 2, 2016

The final rule on MACRA was released by the Department of Health and Human Services on October 14th, 2016. Since the final rule weighs in at a staggering 2,171 pages, we here at GroupOne thought it would be helpful to provide you with a list of resources that offer detailed information about the final rule.

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Topics: MACRA

Quiz: What's Your Medical Billing Monster?

by Kaitlyn Houseman on October 31, 2016

Medical billing monsters are some of the worst. They can cause you to lose time, money, and sleep. Take our short quiz this Halloween to find out which medical billing monster is haunting your revenue cycle management.

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Topics: Revenue Cycle Management

Preparing Your Practice for the 2nd Round of HIPAA Audits

by Jim Johnson on October 22, 2016

With the first round of HIPPA Audits behind us, the Office of Civil Rights (OCR) indicated back in March that it would finally launch the long-awaited round 2 of HIPAA audits in 2016. As we near the end of the year and start preparing for the Merit Based Incentive Payment System, physicians and practices must also be preparing for the next phase of HIPAA audits expected to take place in early 2017.

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Topics: HIPAA

HHS Finalizes Medicare Payment System-MACRA Final Rule Released

by Jeff Jones, CPHP on October 18, 2016

The Department of Health & Human Services (HHS) finalized a landmark new payment system for Medicare clinicians that will continue the Administration’s progress in reforming how the health care system pays for care. The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) Quality Payment Program, which replaces the flawed Sustainable Growth Rate (SGR), will equip clinicians with the tools and flexibility to provide high-quality, patient-centered care.

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Topics: Merit Based Incentive Payment System, Incentive Programs, MACRA, Alternative Payment Models

An Explanation of the Merit-Based Incentive Payment System (MIPS)

by Jeff Jones, CPHP on October 13, 2016

The Merit-based Incentive Payment System (MIPS) is coming in 2019, and this new physician payment policy is undoubtedly going to be a game-changer. Although it's still a few years out, it's important for healthcare professionals to develop a thorough understanding of how the Merit Based Incentive Payment System and MACRA in general will impact physician reimbursement and medical practice operations.

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Topics: Merit Based Incentive Payment System, Incentive Programs, MACRA

5 Things Your Medical Billing Company Should Be Doing

by Kaitlyn Houseman on October 11, 2016

Whether you already have a medical billing company taking care of your revenue cycle management, or you are in search of one to help you improve your revenue, there are many things to consider. Partnering with a billing service can often be a long term agreement that will have a lasting impact on the financial health of your practice. Here we'll cover the 5 most important things your medical billing company (if you choose to outsource) should be doing for your practice on a regular basis to help you accelerate your revenue cycle.

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Topics: Revenue Cycle Management, Medical Business

6 Key Components to a Successful Medical Practice Marketing Plan

by Kaitlyn Houseman on October 6, 2016

Whether you are just starting up your practice, or you're looking to grow your practice, it's important to understand the key components that make up a successful medical practice marketing plan. Not every practice will use every marketing method. You may try some and find that they simply don't work for you, and that's fine. Here are some of the most popular yet also succesful marketing components used in medical practice marketing.

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Topics: Marketing

Trump vs Clinton: Significantly Rising Prescription Costs?

by Kaitlyn Houseman on October 4, 2016

It's clear that the American people are heavily burdened with the rising cost of prescription drugs, and patients aren't the only ones that are affected. Physicians have become increasingly concerned with the impact of rising prescription drug costs on the industry, as well as on the national economy.

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Topics: Medical Business, Healthcare Policy

4 Ways Independent Practices Can Thrive in the Face of Changing Reimbursement

by Arun Murali on September 29, 2016

Independent health care providers are facing more challenges today than ever before. With changes in payment models and reimbursement methods, competition with a large group of employed physician practices, and changes in patients’ insurance coverage, a practice can be at risk for decreased revenue and increased financial instability. Having an efficient Revenue Cycle Management (RCM) process and integrated electronic health records (EHRs) software can help mitigate financial risk of course, but there are also other key areas that independent clinics can focus on in order to drive success in the face of changing reimbursement.

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Topics: Revenue Cycle Management, Medical Business, Practice Management

5 Ways to Improve Your Practice's Front Desk Collections

by Kaitlyn Houseman on September 27, 2016

Although it's considered best practice to collect co-payments at the time of service, things don't always happen that way. Sometimes your office is understaffed, or the patient doesn't have the co-payment required, or another issue may arise that prevents collections from happening on the date of service. If this becomes a habit, however, then you are setting yourself and your practice up for long term collection and medical billing issues.

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Topics: Revenue Cycle Management, Medical Business, Self-Pay

Is Your Healthcare Organization Ready for Clinical and Financial Business Intelligence?

by Keith Lage on September 20, 2016

In the next few years, the existence of clinical and financial business intelligence is expected to grow significantly, according to the HIMSS Analytics 20161 Clinical & Business Intelligence (C&BI) Essentials Brief. And rightly so, seeing that clinical and business intelligence is essential for healthcare organizations looking to reduce costs and move to data-driven healthcare improvements.

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Topics: Revenue Cycle Management, Medical Business, EHR

Patients Won't Pay? How to Select a Medical Collection Agency

by Kaitlyn Houseman on September 16, 2016

Unfortunately, there are going to be situations where you may need to send your patients to collections, and it's important to understand when it is time to utilize a third party to collect past due payments. Although it's not something you want to have to worry about as a healthcare practice, it is sometimes necessary to send patients to a collection agency.

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Topics: Revenue Cycle Management

Last Minute Steps You Can Take to Prepare for the End of the ICD-10 Grace Period

by Kaitlyn Houseman on September 14, 2016

Although the ICD-10 transition officially went into effect last year on October 1st, 2015, a grace period was put into place by the Centers for Medicare & Medicaid Services (CMS). October 1, 2016, will mark the end of a one-year “grace period” that allowed unspecified ICD-10-CM codes on certain physician Medicare claims as well as the end of a three-year partial code freeze. Here's what your practice can do now to prepare.

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Topics: ICD-10

Four New MACRA Tracks Allow Flexible Attestation for Providers

by Jeff Jones, CPHP on September 12, 2016

On September 8th, Acting Administrator of CMS Andy Slavitt announced four MACRA implementation tracks that will allow eligible clinicians to pace their own transition and participation in the program. Eligible clinicians will be able to select their own pace for MACRA attestation to ensure all participants can succeed under new value-based reimbursement programs, CMS announced.

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Topics: Merit Based Incentive Payment System, Incentive Programs, MACRA

CMS Comprehensive Primary Care Plus Initiative FAQs

by Jeff Jones, CPHP on September 7, 2016

In April we published a post announcing the launch of the new risk-based primary care initiative, Comprehensive Primary Care Plus (CPC+). Now, we are nearly just one week away from applications for CPC+ being due. So what should you know before submitting your application? We've compiled a list of frequently asked questions about the CPC+ program and some answers to help you better understand it.

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Topics: Alternative Payment Models

Meaningful Use Update: Keeping Your Practice on Track for 2016

by Jeff Jones, CPHP on September 6, 2016

We welcomed the news earlier this year that the Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health Information Technology (ONC) released a Notice of Proposed Rulemaking (NPRM) to allow for flexibility in meeting Meaningful Use this year. However, the 90-day reporting period for 2016 still has not been finalized and the final 90-day reporting period in calendar year 2016 is rapidly approaching.

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Topics: Incentive Programs

Top 5 Most Widely Used EHRs Named in Medscape EHR Report

by Kaitlyn Houseman on September 1, 2016

Epic, Cerner, eClinicalWorks, NextGen and MEDITECH have been named the most widely used EHRs by physicians, according to Medscape’s 2016 EHR Report. Epic continues to dominate the EHR market for hospitals and health systems at 28% representing 48% of users—more than three times as many as Cerner (13%), its next largest competitor. Missing from this year’s list is Allscripts, which dropped out of the top five altogether driven by its 2012 decision to drop its small practice software, My Way. 

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Topics: EHR

The Basics of Medical Code Bundling and CPT Modifiers

by Kaitlyn Houseman on August 30, 2016

Managing a healthcare practice comes with a long list of complex challenges that need to be solved on a daily basis. Anyone who is involved in the operational aspects of a medical office or healthcare facility understands that there are many situations that require making educated and rule-based decisions based on a variety of factors. Medical code bundling and the use of modifiers is one of them.

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Topics: Revenue Cycle Management, Coding

The Good, The Bad, The Ugly: Tracking and Measuring Revenue Cycle Management Metrics

by Kaitlyn Houseman on August 27, 2016

When it comes to revenue cycle management, there is a significant amount of data that you could track, but what are some of the most important metrics to measure and monitor regularly? There are 6 RCM metrics you should be tracking and measuring consistently to determine how your revenue cycle is performing. Here we will cover all 6 and give you some benchmarks to help you compare your practice's performance.

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Topics: Revenue Cycle Management