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GroupOne Health Source Blog

GroupOne Revenue Cycle Blog 

Insights to guide your practice.

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Top 6 Challenges Facing Physicians in 2017

by Arun Murali on December 2, 2016

More than ever before, physicians are facing an abundant amount of challenges. Declining reimbursement, changing payment models, and uncertainties surrounding new administration and the Affordable Care Act just to name a few. While the coming year presents many challenges to physicians, we’ve identified six of the top challenges most common among physicians that can also be less intimidating through further education and, of course, much preparation.

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Topics: Revenue Cycle Management

4 Steps to Preventing Medical Claim Denials

by Kaitlyn Houseman on November 21, 2016

It's no secret that the relationship between health care providers and insurance companies is complicated. Healthcare providers are spending a significant amount of time and energy with patients just to find out that an insurance company will fight them on paying for the services provided. Preventing claim denials helps ease the complications but denial management doesn't come so easy to every medical practice.

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Topics: Revenue Cycle Management, Denial Management

What Top Performing Practices Know About Analytics That You Don’t

by Kaitlyn Houseman on November 17, 2016

Wondering what it takes for your medical practice to reach true financial success? Two words: data collection. A top performing medical practice can be defined as one that achieves profitability, month after month. Not only to pay the bills but to invest in the right people, proper clinical tools and business assets to maintain their financial success. Here's what these practices know about analytics that you possibly do not.

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Topics: Revenue Cycle Management

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

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: MACRA, Incentive Programs, Merit Based Incentive Payment System

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 successful 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, Self-Pay, Medical Business

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, EHR, Medical Business

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