Are you prepared for MIPS? As the deadline to collect data is approaching, it is time for providers to get serious about documentation to avoid penalties. MIPS reporting can be stressful, confusing, and haphazard if you are not prepared. However, in order to avoid penalties and maximize incentives, it is important to assess how you have fared. While you may require special assistance in the form of CureMD’s MIPS consultancy services to properly equip you with a penalty protection plan and help you understand how to maximize your returns, CureMD can simplify the technicalities for you. Enhance your understanding of eligibility, scoring, performance thresholds, and alternative payment models here. Get More Information on MIPS Reporting 2017
For nearly a decade, the $28 billion Electronic Medical Record (EMR) market was on a foreseeable path with roughly 20 similarly-sized competitors and many smaller participants offering software systems and support services. A new report from Kalorama Information says the EMR market is confronting changes that will determine how healthcare providers operate moving forward. Per the report, the market is consolidating, leading to a decrease in EMR support services and creating issues for providers. To illustrate, here are 11 ways the EMR market is changing:
- The EMR systems market has been consolidating for years. While there are hundreds of EMR vendors today, consolidation in the industry has accelerated in recent years. In a meaningful use (MU) attestation in 2012, the top 15 EMR vendors of 336 hospitals surveyed represented 75 percent of all providers attesting. On the inpatient side, this concentration was even more pronounced with the top six representing 75 percent of total hospital attestations. Read More
For anyone who’s lost out on fulfilling a dream because they depleted their savings on medical expenses, those who avoid going to the doctor for fear of a huge medical bill, and those that have lost loved ones to cancer, Obamacare was a tremendous blessing. Highly popular amongst Americans initially, President Obama’s signature health care law has provided health coverage to approximately 20 million Americans who were unable to afford health insurance previously. This accounts for approximately 15% of the American population who currently has access to healthcare. Possibly inspired by Britain’s NHS system, the Affordable Care Act’s main objective is affordable healthcare for all, eventually leading to a healthier and happier America. However, Britain’s NHS is considered a huge burden on taxpayers and is facing allegations of inefficiency, and Obamacare seems to be equally in trouble as Republicans are working to replace the law with a new version called the Better Care Reconciliation Act of 2017. Continue Reading
America has come a long way over the years and witnessed many extraordinary moments. Here’s to the American dream that will never be forgotten!
As the healthcare industry transitions from fee-for-service models to value based approaches to tackling rising costs, revenue cycle management takes on much greater significance. From pre-registration to collections, the dynamics of your revenue cycle depend on a myriad of key factors. Your hospital or healthcare institution may be dealing with largely external forces including patient debt, decreased cash flow, and increased claim denials from a volatile health insurance market.
Without cutting corners and affecting care quality, how can you improve your RCM in the ever-evolving healthcare universe? Don’t miss these 9 tactical and effective solutions:
Use Revenue Cycle Management (RCM) Software
Digital RCM solutions can streamline and automate processes, maximize profits, and even provide insights into patient populations including rates of illness and chronic disease, frequency of visits, ability to pay, etc. Integrated into other health IT systems including medical records and billing, effective RCM software shortens the window of time between providing service and receiving payment. It can also assist with tasks like scheduling appointments, reminding patients of outstanding balances, and even automatically responding to payer claims denials with questions and appeals. Continue reading