These days it seems that pretty much everything is evolving at break neck speed. The dawning of the technological age has spurred the wheels of invention and innovation like never before. Medical Billing is just one sector of business that is currently in the spotlight as medical professionals rush to remain current in the face of widespread changes in procedures and guidelines.
Considering the massive overhaul the health industry is currently undergoing, the decision over whether, or not, to outsource your clinic’s medical billing may be something you have no choice but to consider. You may be discovering that your staff is now having difficulty keeping up with day-to-day routines, while also trying to keep current with an avalanche of complicated legislation, and expansive updates to medical billing codes.
For the longest time physicians were advised to keep billing “in-house” no matter what. But times they are a changing.
The Patient Protection and Affordable Care Act (ACA), or as some may refer to it, “Obama Care” could easily be considered one of the most hotly debated medical reforms the United States has ever embarked on. Love it, or hate it; one thing seems to be increasingly clear, it isn’t going to go away any time soon.
Thanks to the Patient Protection and Affordable Care Act (ACA) there are now over 17 million newly insured consumers in the U.S. One of the biggest issues facing medical practitioners is the fact that many of the ACA policies, although cheaper, come with high deductibles to be paid by the patient. What does that mean?
And What You Can Do to Solve Them
With all of the recent changes in the medical billing arena including the introduction of the updated ICD-10 coding system, it has never been more important to the success of your practice to keep up with the frequent changes in billing procedures. Here are 4 important factors you should take into account to avoid these medical billing issues. as you begin updating and maintaining your offices billing procedures to avoid these medical billing issues.
HIPAA Violations – Ignorance of the Law is Not a Defense
In 1996 the U.S. Congress along with the Department of Health and Human Services passed the Health Insurance Portability and Accountability Act, which, basically “established a comprehensive and uniform Federal standard for ensuring privacy of genetic information.” Over the years there have been several changes to these laws, but the message remains pretty much the same; violations to the HIPPA will not be tolerated.
With the ICD-10 billing codes set to replace the old ICD-9 system on Oct. 1, now may be the best time ever to take a closer look at your offices’ billing procedures and discover ways to improve your practices’ billing efficiency. Your AR department will soon be busy catching up to all the new codes and regulations, so, why not make the job easier for them, and more profitable for you, by implementing a few of these strategies designed to maximize the efficiency of your billing department.
Many businesses understand that it can be difficult to find and keep quality employees. The issues that face many people in their everyday lives can sometimes become overwhelming as they try to balance the demands of work and family while establishing a sense of balance and well-being on a personal level.
Making the Right Choice Between HRA or HSA
I think most of us can agree that with the high cost of medical services in today’s economy, it is important to have as much protection against unexpected medical expenses as possible. Of course, you eat right, exercise, and carry a reasonable amount of health insurance, but is that enough? Many people think not, and prefer to include the added benefits an HRA (Health Reimbursement Arrangement), or HSA (Health Savings Account) can bring to the table. But, which one is the right choice for you?
While it is true that no one can predict an emergency situation requiring urgent medical assistance, anyone who maintains medical insurance should be well aware of what his, or her insurance policy does, and does not cover. Having a medical claim denied by an insurance provider during a critical time is something no one should be forced to endure, especially when it takes precious time away from caring for yourself, or a loved one.
- Affordable Care Act
- Benefits of Outsourcing
- Claims Processing
- Health Plan Patients
- ICD 9/ ICD 10
- Insurance Benefits
- Medical Billing
- Medical Billing Careers
- medical claims
- Medical Coding
- Physician Practice Management
- Practice Management
- Psychology Billing
- Revenue Cycle Management
- Sleep Apnea