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GroupOne Health Source Blog

GroupOne Revenue Cycle Blog 

Insights to guide your practice.

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The Top Questions to Consider During RCM Vendor Selection

by Kaitlyn Houseman on November 20, 2018

Today's healthcare leaders understand that they must consider outsourcing revenue cycle management to reduce spending and focus on value-based care initiatives. What kinds of revenue cycle management questions should healthcare organization leadership ask before signing a new RCM vendor contract? Here we will explore just that and share the top ten questions to consider during the RCM vendor selection process.

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Topics: Revenue Cycle Management

A Review of the CMS 2019 Physician Fee Schedule and Quality Payment Program Final Rule

by Kaitlyn Houseman on November 13, 2018

The release of the Centers for Medicare and Medicaid Services' 2019 Physician Fee Schedule and Quality Payment Program final rule offered dramatic improvements for clinicians and patients. CMS is expanding the list of Medicare-covered telehealth services while also focusing on finalizing an overhaul of EHR requirements to promote interoperability. According to a CMS fact sheetCMS finalized several items designed to reduce the regulatory burden on physicians, effective January 1, 2019.  However, the controversial streamlined payment rates will be postponed to 2021 after an overwhelming amount of concern was expressed from the medical community.

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Topics: Coding, MACRA, Revenue Cycle Management

A Complete Guide to the 2019 ICD-10-CM Code Updates

by Kaitlyn Houseman on October 11, 2018

The Centers for Medicare and Medicaid Services (CMS) and the National Center for Health Statistics (NCHS) released the 2019 ICD-10-CM code changes earlier this year. These codes are to be used from October 1, 2018 to September 30, 2019. With hundreds of changing, preparing for the 2019 ICD-10-CM code updates can seem overwhelming. In this post, we'll cover some of the changes taking place and share our comprehensive ICD-10-CM code guide to help you navigate all of the coding changes.

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Topics: Coding, Revenue Cycle Management

5 Ways Practices Can Prepare for New Medicare Cards

by Kaitlyn Houseman on April 5, 2018

CMS has officially started mailing new Medicare cards to Medicare beneficiaries with the new Medicare Beneficiary Identifier (MBI). During a 21-month transition period, healthcare providers will be able to use either the new MBI or old Social Security-based Health Insurance Claim Number for billing purposes. In this blog post, we'll cover how you can communicate the changes to your patients and ways to prepare your practice today.

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Topics: Revenue Cycle Management

What You Need to Know Now: Analyzing the 2018 MACRA Quality Payment Program Final Rule

by Kaitlyn Houseman on November 3, 2017

Yesterday the Centers for Medicare & Medicaid Services (CMS) issued the final rule with comment for the second year of the Quality Payment Program (calendar year 2018) as required by the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). The changes reflect the commitment CMS has made to minimizing the burden of participation in the Quality Payment Programs while still focusing on meaningful measurement and improved healthcare delivery.

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Topics: MACRA, Merit Based Incentive Payment System, Alternative Payment Models, Revenue Cycle Management

12 Eye-Opening Patient Pay and Healthcare Payment Market Statistics You Should Know

by Kaitlyn Houseman on September 14, 2017

With the increasing number of high-deductible health plans, optimizing your revenue cycle management for patient pay collections is no longer a matter of if, but when. These 12 eye-opening patient pay and healthcare payment market statistics are sure to convince you that focusing your revenue cycle efforts on patient pay collections is worthwhile.

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Topics: Patient Pay, Revenue Cycle Management, Self-Pay, Physician Payment

5 MIPS Myths Debunked!

by Kaitlyn Houseman on September 8, 2017

 As we near October 2nd, the last day to start participating in MIPS and satisfy the 90-day minimum performance period, it's important to separate fact from fiction. According to CMS, nearly 600,000 clinicians will participate in MIPS under the Quality Payment Program but there's still some confusion surrounding participation options, eligibility, and the program in general. Here we'll clear up some common misconceptions about the MIPS program to help you better understand what MIPS is and how it affects your practice.

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Topics: Alternative Payment Models, Merit Based Incentive Payment System, MACRA, Revenue Cycle Management

CMS Proposes Quality Payment Program Rule for 2018: Here's What You Need to Know

by Kaitlyn Houseman on June 23, 2017

On Tuesday, CMS issued a proposed rule that would make changes in the second year of the Quality Payment Program. The proposed rule includes changes that would not only simplify the program, but also ensure high-quality care within Medicare is at the forefront of the Quality Payment Programs. Here's what you need to know about the proposed rule for the 2018 performance period.

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Topics: MACRA, Merit Based Incentive Payment System, Value-Based Reimbursement, Revenue Cycle Management, Practice Management

How Practices Can Start Preparing for New Medicare Cards

by Kaitlyn Houseman on June 22, 2017

CMS will issue new Medicare cards starting in April 2018 with a new unique, randomly-assigned number called a Medicare Beneficiary Identifier (MBI) to replace the existing Social Security-based Health Insurance Claim Number (HICN) both on the cards and in various CMS systems we use now. However, both the MBIs on the new cards and the Social Security­ based HICNs that exist on the cards today, can be used. Here's what you need to know to start preparing your practice for new Medicare cards.

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Topics: CMS, Practice Management, Revenue Cycle Management

How to Switch Medical Billing Services Without Losing Revenue

by Keith Lage on May 1, 2017

If your medical billing service is losing your practice revenue, you should be looking into switching your billing services provider. You know that once you find a new service and start fixing some of the errors from your current billing service, your revenue will soar. But how do you go about switching from your existing billing service to a new billing service without losing even more revenue?

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Topics: Revenue Cycle Management

Top 5 Credit Card on File Questions and Answers

by Kathy Kuhn on April 27, 2017

Today the average practice has up to 35% of their revenue coming from patient pay but 81% of self-pay revenues go uncollected. It's no wonder that practices today are turning to credit card on file programs to solve the challenges of patient pay collections. 

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Topics: Patient Pay, Revenue Cycle Management

Top 5 Practice Management Challenges and Their Solutions

by Keith Lage on March 8, 2017

While it's estimated that practices in the U.S. lose $125 billion each year due to poor medical billing operations, the challenges of practice management expand far beyond revenue cycle management. Here, we'll discuss the top 5 practice management challenges and provide resources and solutions that can assist in overcoming them.

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Topics: Practice Management, Revenue Cycle Management

5 Step Guide: Top Ways to Increase Patient Payments and Boost Practice Revenue

by Kathy Kuhn on March 1, 2017

Patient payments are a vital part of revenue cycle management, but when patients fail to take financial responsibility, doctors and their practices take a hard hit. In fact, according to a report from the American Hospital Association —  since 2000 —  U.S. hospitals have provided more than $502 billion in uncompensated care expenses. More patients are paying higher out-of-pocket costs for medical care expenses than ever before. Here are top ways your practice can increase patient payments that boost your practice's revenue.

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Topics: Revenue Cycle Management, Patient Pay

4 Common Mistakes that Lead to High Accounts Receivables

by Kaitlyn Houseman on February 7, 2017

Now more than ever, physicians need to closely monitor the impact health insurance plans have on their revenue cycle management.  The hard truth is, high AR is an indicator that RCM performance improvements should be made in your practice immediately. So what are the red flags you should look out for to lower your practice's AR? 

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Topics: Revenue Cycle Management

4 Ways Small Practices Can Best Prepare for Value-Based Care

by Jeff Jones, CPHP on January 3, 2017

When it comes to government regulations and health care, change is inevitable. In contrast to the current fee-for-service care, the value-based care model aims to compensate physicians for high-quality service, clinical performance, and patient satisfaction. It's an exciting time for the future of healthcare, and small practices are uniquely situated to thrive in the transition to value-based care.

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Topics: MACRA, Value-Based Reimbursement, Revenue Cycle Management

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