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GroupOne Health Source Practice Management Blog

      

The GroupOne Health Source Blog

 Answers and Insights Every Healthcare Professional Needs.

 

HIMSS17 Highlights and Quality Payment Program Presentations Now Available

by Kaitlyn Houseman on March 9, 2017

Not able to attend the HIMSS conference this year? No worries. We've put together a list of some highlights from the conference and some newly posted resources from CMS that provide even more information on one of the many hot topics this year at HIMSS, the Merit-based Incentive Payment System.

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Topics: Medical Business, Practice Management, Health IT

What Doctors Should Consider When Weighing Independence vs Employment

by Keith Lage on December 13, 2016

A recent Medscape study found that self-employed physicians are more satisfied in their profession than employed physicians (63% vs 55%). However, the Employed Doctors Report 20161  states that twice as many doctors (27% vs. 13%) have switched from independent practice to employed. But why?

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Topics: Revenue Cycle Management, Medical Business, Physician Payment

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

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

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 Ricki Ransom 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

[Infographic] The Impact of Nursing Leadership Styles on Patient Outcomes

by Tim Wayne on May 20, 2016

Between declining reimbursement, new incentive programs, and keeping pace with the competitive industry of healthcare, healthcare managers and leaders are in a constant struggle to become more efficient and effective. Healthcare is becoming increasingly complex, and juggling these modern day challenges while still being a good leader and providing effective care for patients can be challenging to say the least.

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Topics: Revenue Cycle Management, Medical Business, Patient Engagement

5 Ways to Increase Physician Referrals to Your Practice

by Ricki Ransom on April 28, 2016

Independently owned clinics - particularly specialty clinics - may find the process of getting physician referrals to be daunting. There are multiple reasons for this. For one thing, the number of specialist categories has grown in the past decade, so there are more types of specialists for patients to be sent to. At the same time, there are more multispecialty groups that refer to specialists within the group, while many smaller clinics are being purchased by hospitals where internal referrals dominate.

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Topics: Revenue Cycle Management, Medical Business, Practice Management

Recognizing the Signs of Physician Burnout

by Kaitlyn Houseman on March 28, 2016

Burnout is an occupational hazard for high achievers, so it's no surprise that it is becoming more common and severe among physicians, who tend to be very high-achieving individuals. Physicians who face burnout are often the ones who are most passionate about what they do, making burnout more difficult to detect and prevent.

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Topics: Medical Business, Practice Management

10 Disruptive Healthcare Companies to Watch

by Kaitlyn Houseman on March 10, 2016

Disruption by technology has affected more industries than it has left alone, and many involve things you do and use every day. For example, Facebook Messenger disrupted SMS messaging, Amazon disrupted eBooks, and Uber disrupted the taxi industry. Healthcare is no exception, experiencing disruption in the form of telemedicine, new devices, and new care delivery paradigms.

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Topics: Medical Business, Practice Management, Patient Engagement, Telehealth

What You Need to Know About the Medicare Overpayment Rule

by Ricki Ransom on March 9, 2016

Remember in 2012 when CMS issued a rule requiring healthcare providers who discover past overpayments by Medicare or Medicaid to refund it within 60 days or risk the overpayment being labeled as a false claim? Well the final rule was published by CMS just last month (February). Here's what you need to know about the Medicare Overpayment Final Rule.

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Topics: Medical Business, Practice Management, CMS

5 Most Effective Ways to Increase New Patient Referrals

by Kaitlyn Houseman on March 2, 2016

Referrals offer a connection a little more solid than a new patient who finds you via Google search or in the Yellow Pages. When you get a word-of-mouth referral, your existing patient is acting as a "salesperson," and it costs you very little compared to the cost of advertising your practice. Increasing the number of referrals from patients can help fill your schedule and in turn grow your practice.
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Topics: Medical Business, Practice Management, Marketing

5 Ancillary Services to Increase Your Practice Revenue

by Kathy Kuhn on February 21, 2016

Looking for new ways to grow your practice and increase revenue? It's not just a matter of drawing in more patients who need the medical services you provide. Many physicians have strategically determined ancillary services that can bring in more money from their existing client base in order to fight the neverending battle of declining reimbursement. 

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Topics: Medical Business, Practice Management

Five Healthcare IT Leaders Adopt Carequality Interoperability Framework

by Kaitlyn Houseman on January 21, 2016

Athenahealth, eClinicalWorks, Epic, NextGen Healthcare and Surescripts First to Adopt Enhanced Data Sharing Practices

MCLEAN, VA--(Marketwired - January 21, 2016) - Carequality, an initiative of The Sequoia Project, today announced initial implementers of the Carequality Interoperability Framework released in December 2015. The companies are athenahealth®, eClinicalWorks, Epic, NextGen Healthcare and Surescripts.

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Topics: Medical Business, EHR, Interoperability

10 Reasons a Physician Should Seek an MBA

by Keith Lage on December 29, 2015

More doctors are pursuing the Masters of Business Administration (MBA) degree on top of their medical qualifications. Should you? It can be a wise career move whether or not a doctor is interested in transitioning to the management side of healthcare. But do the pros outweight the cons?

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Topics: Medical Business, Practice Management

Preventing Revenue Cycle Disruptions When Acquiring a Practice

by Kaitlyn Houseman on November 24, 2015


In recent years, hospital systems have been buying up physician practices, expanding their networks and preparing for managed health approaches to reimbursement. With meeting cost and outcome goals as the long term objective, hospitals are coping now with the inevitable shocks to the revenue cycle that result from these acquisitions.

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Topics: Revenue Cycle Management, Medical Business, Practice Management

15 Things to Know About the 2016 Medicare Physician Fee Schedule

by Kaitlyn Houseman on November 12, 2015

On Friday, the Obama administration issued its final rule for the 2016 Medicare Physician Fee Schedule that includes several health IT provisions.  The fee schedule – the first since repeal of the Sustainable Growth Rate (SGR) formula and enactment of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) – includes changes to payment policies, modifications to misvalued codes, and updates to quality performance metrics under the PQRS, the Medicare Shared Savings Program, and Physician Compare, among others. (Internal Medicine News, 10/31)
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Topics: Revenue Cycle Management, Medical Business, CMS, PQRS

Bipartisan Budget Act of 2015 Signed Into Law

by Keith Lage on November 10, 2015

On Monday, November 2, President Obama signed into law the Bipartisan Budget Act of 2015. Among its provisions, the two-year budget deal sets 2016 Medicare Part B premium rates, changes Medicaid rebate policy, repeals the ACA auto-enrollment requirement, and provides for a new Medicare payment policy for new outpatient providers.

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Topics: Revenue Cycle Management, Medical Business, CMS, Incentive Programs