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GroupOne Health Source Practice Management Blog

      

The GroupOne Health Source Blog

 Answers and Insights Every Healthcare Professional Needs.

 

Lost in Translation: Reducing Errors in Medical Transcription

by Kaitlyn Houseman on October 6, 2015

The process of medical transcription is how the files representing patient histories, diagnoses and treatments are built. To perhaps oversimplify, healthcare practitioners dictate the particulars of their interaction with patients and medical transcriptionists may transcribe the oral dictation or edit reports that are generated by speech recognition software.

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Topics: Revenue Cycle Management, Practice Management

Collecting from Patients in a Difficult Economy

by Ricki Ransom on October 2, 2015

Despite the fact that more Americans have health insurance, many still struggle to pay their medical bills due to the increasing number of high deductible health plans.  Collecting from self-pay patients can be also be costly for a medical practice since it typically takes more time and hassle. 

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Topics: Revenue Cycle Management, Patient Engagement, Self-Pay

Protecting Against Credit Card Fraud at Your Practice

by Kathy Kuhn on October 1, 2015

One way healthcare providers increase medical billing collections is by allowing multiple payment options, including credit cards. But it's important that medical billing professionals understand credit card fraud and know how to prevent it. Credit card fraud costs credit card issuers millions of dollars each year, because consumers generally aren't responsible for fraudulent use of their cards.

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Topics: Revenue Cycle Management, Practice Management, Self-Pay

Post ICD-10: What to Expect After October 1st

by Keith Lage on September 30, 2015

Tomorrow ICD-10 will replace the current classification system, ICD-9. Whether you're ready or not, ICD-9 codes will no longer be accepted on claims. Claims with ICD-9 codes after October 1 will be denied without payment. While surveys indicating readiness for the ICD-10 transition vary, one thing is for sure: ICD-10 will dramatically impact medical billing and cash flow. 

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Topics: Revenue Cycle Management, ICD-10, Coding

Be Wary of the ICD-10 Grace Period

by Toshya Griffin, CPC on September 28, 2015

With ICD-10 just 3 days away, healthcare providers and practices should be gearing up for the biggest change in healthcare to occur in decades. However, there seems to be a lot of debate and confusion surrounding the CMS announcement of a “grace period” with ICD-10. If you haven’t yet heard of the “grace period” it is intended to alleviate some of the concern surrounding the additional time physicians will need to spend on documenting with the new ICD-10 code set.

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Topics: Revenue Cycle Management, ICD-10, Coding

What Will ICD-10 Do To Your Cash Flow?

by Toshya Griffin, CPC on September 26, 2015

The change from the ICD-9 coding standard to ICD-10 will affect healthcare provider cash flow from several different angles. In fact, you could do everything "right" in the lead-up to ICD-10 and still face problems with revenue cycle management. But knowing where and how ICD-10 will make an impact can help you prepare and do your best to minimize problems.

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Topics: Revenue Cycle Management, ICD-10

Will ICD-10 Cause the Extinction of Paper Superbills?

by Kaitlyn Houseman on August 26, 2015

Paper superbills have been as much a part of many medical practices as stethoscopes and blood pressure cuffs over the past few decades. And despite increasing prevalence of electronic health records (EHRs), more than half of physician practices today still use paper superbills. That's because they're flexible and powerful and do their job well.

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Topics: Revenue Cycle Management, ICD-10

4 Ways an EHR Can Improve the Efficiency of Your Practice

by Nicole Laucks on August 19, 2015

Adoption of electronic health records (EHRs) is continuing apace as medical providers cope with a dizzying array of new regulations and demands from third party payers. Some healthcare providers have resisted implementing EHRs for fear of lower productivity, which they believe will lead to a reduced patient load and revenue.

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Topics: Revenue Cycle Management, EHR

Code Confusion: What to Expect With ICD-10

by Kaitlyn Houseman on August 10, 2015

Reactions to the looming changeover from ICD-9 coding standard to ICD-10 scheduled to take place October 1 range from general confidence to serious worry. There is little debate that ICD-10 is better. It will make codes more meaningful, allowing medical practices to pack more information into a simple code. This will make it easier to track individual health problems as well as societal health trends.

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Topics: Revenue Cycle Management, ICD-10

Will ICD-10 Make Your Staff Less Productive?

by Toshya Griffin, CPC on August 6, 2015

Change is difficult, even if it is ultimately a positive change. ICD-10 is one of the biggest changes to hit healthcare in decades and the deadline is getting closer and closer. The upcoming transition from the ICD-9 coding standard to ICD-10 will lead to more accurate tracking of individual and population health trends, and will allow much greater specificity in medical coding. But there's no question that the transition will be challenging.

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Topics: Revenue Cycle Management, ICD-10

Why ICD-10 Has More Than 150,000 Codes - And What You Can Do About It

by Kaitlyn Houseman on July 27, 2015

Use of the ICD-10 coding standard will no longer be optional after October 1. After that time, medical claims submitted without the correct ICD-10 codes will be rejected. Learning ICD-10 is comparable to learning a new language, one that is much more complex than ICD-9.

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Topics: Revenue Cycle Management, ICD-10

5 Things You Must Know About Denied and Rejected Claims

by Toshya Griffin, CPC on July 1, 2015

As the ICD-10 deadline approaches, you might be wondering how your practice is following up on denied and rejected claims. According to CMS, 1 in 5 practices will see Medicare denials double for 6 months after October 1, 2015. Understanding how your practice is following up on denied and rejected claims now is critical to the success of your revenue cycle. Investing time into your denial management strategy can minimize the impact of ICD-10 on your practice.

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Topics: Revenue Cycle Management, Denial Management

5 Hidden Ways Your Medical Practice is Losing Revenue

by Toshya Griffin, CPC on June 17, 2015

According to recent studies, approximately 25%-30% of all medical practice income is lost due to incorrect coding, underpricing, missed or never submitted charges, and nonexistent or improper follow-up. Physician practices have to have a comprehensive and strategic approach to medical billing that involves a skilled personnel mix, from those who schedule appointments to those who follow up with insurers about denied claims. Many practices have switched or are switching to electronic health record (EHR) systems, expecting them to solve medical billing problems.
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Topics: Revenue Cycle Management, Practice Management

Physicians Beware! 3 Revenue Cycle Impacting Changes in 2015

by Kaitlyn Houseman on June 13, 2015

Just when you thought medical billing couldn't become a more complex process, it is set to do just that in 2015. Medical facilities could find their incomes affected unless they have a strategy ready for many of the changes expected to take place this year. This may be true even for practices that are experiencing above average financial outcomes.

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Topics: Revenue Cycle Management, ICD-10, Physician Payment

Why Investing in Revenue Cycle Management Services is On the Rise

by Keith Lage on April 24, 2015

Revenue cycle management is not something that  most medical  professionals understand, but it is a concept that is very near and dear to the bottom line of each medical practice. These days, medical practice management is being split up into two segments: managing the daily operations of the office and managing the way the practice does business. These are two separate functions and they both require full-time attention, which is why RCM outsourcing is on the rise.
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Topics: Revenue Cycle Management

Senate Passes Bill Stabilizing Doctors' Payments and Ending SGR Formula

by Kaitlyn Houseman on April 14, 2015

The Sustainable Growth Rate (SGR) formula has been eliminated. The Senate voted 92-8 to pass the Medicare Access and CHIP Reauthorization Act of 2015, which will replace the Sustainable Growth Rate. It was passed on the eve of a 21 percent cut to physicians' Medicare payments which was set to take place. Instead, the new legislation removes much of the instability and uncertainty that long has plagued the Medicare payment system so practices can focus on patient care. A huge step in the right direction, the bill also includes several other important improvements for physician practices. 

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Topics: Revenue Cycle Management

Update on the Status of Provisions Expiring on April 1

by Kaitlyn Houseman on April 1, 2015

The negative 21% payment rate adjustment under current law for the Medicare Physician FeeSchedule is scheduled to take effect on April 1, 2015.  CMS is taking steps to limit the impact on Medicare providers and beneficiaries by holding claims for a short period of time beginning on April 1st.  Holding claims for a short period of time allows CMS to implement any subsequent Congressional action while minimizing claims reprocessing and disruption of physician cash flow in the event of legislation addressing the 21% payment reduction.  Under current law, electronic claims are not paid sooner than 14 calendar days (29 days for paper claims) after the date of receipt. CMS will provide more information about next steps by April 11, 2015.

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Topics: Revenue Cycle Management, CMS

H.R. 2 Reauthorization Act of 2015 to Replace SGR Formula

by Kaitlyn Houseman on March 27, 2015

By a vote of 392 – 37, the House of Representatives passed H.R. 2, the Medicare Access  and CHIP (Children's Health Insurance Program) Reauthorization Act of 2015, which, among other things, would permanently repeal and replace the SGR formula. 

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Topics: Revenue Cycle Management, Medical Business

Changes to CPT Coding in 2015: Profit or Pain for Physicians?

by Toshya Griffin, CPC on January 6, 2015

2015 is here and with it comes 550 changes to CPT coding. Every year brings updates, additions, and deletions of CPT codes. How you handle the changes can make your start to 2015 profitable or painful.

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Topics: Revenue Cycle Management, Coding

[Infographic] All I Want for Christmas is a Billing Service

by Kaitlyn Houseman on December 24, 2014

With Christmas just around the corner, many physicians and practice managers are  adding billing services to their wish list. In fact, 71% of physician practices are considering a combination of new software and outsourcing services to improve their RCM systems.

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Topics: Revenue Cycle Management, Medical Business