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GroupOne Health Source Practice Management Blog

      

The GroupOne Health Source Blog

 Answers and Insights Every Healthcare Professional Needs.

 

10 Quick Tips to Prepare for ICD-10

by Kaitlyn Houseman on December 23, 2014

Whether you're just starting out with an ICD-10 plan of action (hopefully not) or you have been preparing for years, it is easy to become overwhelmed and forget everything that a good ICD-10 plan entails.

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Topics: Revenue Cycle Management, ICD-10, Coding

11 Tips to Avoid a Dangerous ICD-10 Code During Thanksgiving

by Kaitlyn Houseman on November 25, 2014

When it comes to ICD-10 codes and Thanksgiving, it just doesn't get much better than this. Here are 11 tips to avoiding any mishaps during your Thanksgiving celebration that could result in an odd ICD-10 diagnosis code.
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Topics: Revenue Cycle Management, ICD-10

4 Qualities of a ‘Better-Performing’ Medical Practice

by Kaitlyn Houseman on November 6, 2014

Ever wonder if your practice is above average, average, or maybe better-performing? MGMA’s“Performance and Practice of Successful Medical Groups: 2014 Report Based on 2013 Data” identifies four performance indicators that successful, high-performing practices are using. According to MGMA, “better-performing practices” excel in the following four performance categories:

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Topics: Revenue Cycle Management, Practice Management

Is Your Practice Financially Healthy?

by Ricki Ransom on October 1, 2014

As a medical provider your goal is to improve the health of patients. As a care provider you know how important it is to be proactive to prevent healthcare problems down the road. You are responsible for measuring and tracking their success with their healthcare.

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Topics: Revenue Cycle Management

How to Solve the Biggest Problems with Self Pay Patients

by Kathy Kuhn on September 18, 2014

When it comes to self-pay patients there are two kinds. There are patients that have healthcare plans with high deductibles and copays and then there are patients with no health insurance whatsoever. The latter will become less common due to the recent changes under the health reform law. The health reform law includes an individual mandate, requiring every American to have health coverage, with just a few exceptions. With this mandate comes a number of health plans with high deductibles and patients with health insurance that are not familiar with how health plans work. High deductible plus patients that don't understand payment obligations equals an increase in bad debt for your practice.

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Topics: Revenue Cycle Management, Self-Pay

2014 Survey Reveals Insight Into Physicians' Incomes, Attitudes & Practice Changes

by Kaitlyn Houseman on September 10, 2014

Medscape's 2014 survey of more than 24,000 physicians provi des insights into doctors' incomes, attitudes, and practice changes as a result of healthcare reform. Between December 11, 2013 and January 24, 2014, physicians in 25 specialties participated in providing detailed information that helps answer questions such as:
  • Who earns more? Employed or Self Employed Physicians
  • Which specialty is the earning leader in 2014?
  • Which physicians feel most failry compensated?
  • Who spends more than 40 hours per week seeing patients?

 

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Topics: Revenue Cycle Management

4 Key Metrics Everyone in the Healthcare Industry Should Be Using to Measure Revenue Cycle Management

by Kaitlyn Houseman on August 14, 2014

When it comes to revenue cycle management, limited information can lead to poor decisions. Management decisions need analytics. The financial sustainability depends on the performance outcomes but tracking the right analytics is critical to managing the billing operations.

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Topics: Revenue Cycle Management, Practice Management

5 Ways Outsourcing Medical Billing is Like Buying Your First Car

by Kaitlyn Houseman on August 5, 2014

Remember purchasing your first car; walking the car lot, searching through the auto trader, and feeling completely overwhelmed?  The process of buying your first car and the process of selecting a medical billing / RCM firm for your practice contains many similarities.  Here are 5 ways outsourcing the medical billing is like buying your first car.

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Topics: Revenue Cycle Management

Online Tool Predicts Physician Shortages at Local, National Levels

by Kaitlyn Houseman on August 4, 2014

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Topics: Revenue Cycle Management

EHR Templates, Cloning, and Upcoding: Should You Worry?

by Toshya Griffin, CPC on June 27, 2014

Electronic Health Records are designed to help practice’s save time, improve the quality of documentation, and ultimately provide better patient care.  However, some features of electronic health records could endanger your business and lead to False Claims Act violations.

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Topics: Revenue Cycle Management, EHR, Coding

5 Must Know Medical Billing Measures at Your Medical Practice

by Ricki Ransom on April 18, 2014

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.

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Topics: Revenue Cycle Management, Medical Business, Practice Management

Holding April 2014 Claims Paid Under Medicare Physician Fee Schedule

by Kaitlyn Houseman on March 31, 2014

Information Regarding the Holding of April 2014 Claims for Services Paid Under the 2014 Medicare Physician Fee Schedule

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.

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Topics: Revenue Cycle Management, CMS

Now Available: "Road to 10" Resource to Help with ICD-10 Transition

by Kaitlyn Houseman on February 26, 2014

The transition to ICD-10 is going to change how you do business from registration and referrals to superbills and software upgrades.  However CMS has the following resources to help your practice prepare for the transition.

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Topics: Revenue Cycle Management, Practice Management, CMS, ICD-10, Coding

Less Than 10% of Physician Practices Ready for ICD-10

by Toshya Griffin, CPC on February 10, 2014

Englewood, Colo., Feb. 4, 2014 – As the Oct. 1 compliance date to transition to the International Classification of Diseases, Tenth Revision (ICD-10) approaches for physician practices, MGMA research released today indicates that overall readiness for implementation continues to lag. Less than 10 percent of responding practices reported that they had made significant progress when rating their overall readiness for ICD-10 implementation, up only slightly (from 4.7 percent) since June 2013, when MGMA previously conducted research to assess readiness levels. The new research includes responses from more than 570 medical groups where more than 21,000 physicians practice.

“The critical coordination that must take place between practices and their software vendor, clearinghouse and health plan partners is simply not happening at the pace required for a seamless implementation. Very simply, ICD-10 is behind schedule,” said Susan L. Turney, MD, MS, FACP, FACMPE, MGMA president and chief executive officer. “MGMA continues to advocate on behalf of members and provides tools and resources to help practice executives make the transition to ICD-10 more cost effective and less disruptive to their organizations.”

MGMA urges the Centers for Medicare & Medicaid Services (CMS) to immediately take action to help ensure that physician practices can successfully undertake such a massive transition, including:

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Topics: Revenue Cycle Management, EHR, Practice Management, CMS, ICD-10, Coding

The End of SGR Cuts As We Know It

by Kaitlyn Houseman on January 14, 2014

Ending the sustainable growth rate cuts this year would be one resolution for Congress in 2014 that could dramatically change physician payment as we know it.  Recently, the House Ways and Means and Senate Finance committees reported out nearly identical bills to repeal the Medicare SGR formula.  With the end goal being to move Medicare at a faster pace to paying physicians based on quality improvement activities.   This is by far the closest Congress has ever gotten to reaching a bipartisan, bicameral accord on permanently repealing the SGR. 
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Topics: Revenue Cycle Management, CMS, PQRS

WEDI Survey a Snapshot of ICD-10 Implementation Status

by Kaitlyn Houseman on January 7, 2014

 “When compared to a similar WEDI survey given in February 2013, the healthcare industry has slipped further behind key ICD-10 compliance milestones suggested in the WEDI/NCHICA timeline,” the Workgroup for Electronic Data Interchange (WEDI) explained in a prepared statement.

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Topics: Revenue Cycle Management, Practice Management, ICD-10, Coding

Medical Billing in 2014: 5 Quick Reminders for Your Practice

by Kaitlyn Houseman on January 3, 2014

Every year we set new goals and expectations for ourselves.  January 1st is a clean slate for most of us hoping to make a change for the better in our lives.  This year, make the commitment to your practice. Devoting time and effort to each of the following 5 points will help prepare your practice for the upcoming changes and help you better manage your practice in 2014.

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Topics: Revenue Cycle Management, Practice Management, ICD-10

Outsourced Billing: Percentage of Net Collections vs. Flat Rate Fee

by Adrienne Schrimpf on January 2, 2014

Are you considering outsourcing your medical billing? Which pricing option is better for your practice? As a medical billing sales rep, I am often asked by practices why the standard fee structure for GroupOne clients is based on a percentage of the total revenue generated by the practice instead of a per claim basis or a base monthly rate charge. Not sure which option is best for your practice? Let’s take a look at each these revenue cycle management scenarios.
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Topics: Revenue Cycle Management, Medical Business, Practice Management

Verifying Patient Coverage in a Health Insurance Marketplace Plan

by Kaitlyn Houseman on December 31, 2013

The New Year and the new Health Insurance Marketplace, also known as Health Insurance Exchange, is here.  Over a million people will have a new insurance plan and in many cases their first insurance plan in years.  Some may have signed up a few months ago while others just a few days.  While some patients visiting your office will be aware of the need to carry their card with them, some won't and others may have not even received their card in the mail yet.  It is likely that your office will need to verify their coverage.

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Topics: Revenue Cycle Management, Practice Management, Affordable Care Act, Patient Engagement

24% Cut in Medicare Payments Averted For 3 Months

by Kaitlyn Houseman on December 27, 2013

CMS has released the following statement now that President Obama has signed into law the legislation necessary to prevent the SGR related cut from taking place on January 1, 2014.  According to this announcement, additional revisions may be made in the conversion factor.  It is not clear when those revisions will be announced but once they are we will be posting the updates to our website. 

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Topics: Revenue Cycle Management, CMS