EHRs, also known as electronic health records, offer tremendous benefits for both healthcare providers and their patients, as long as they are being used effectively. The Centers for Medicare & Medicaid Services provides incentive payments to eligible professionals that can demonstrate that they meet Meaningful Use (MU) standards for certain EHR technology. The earlier that your practice qualifies to receive EHR incentive payments, the more money you stand to earn: if you qualify to earn your first payment this year, you can still get paid as much as $39,000 through 2016, not counting the maximum $780 loss, due to the effect of sequestration on Medicare payments.Read More
Edit: ICD-10 implementation has been delayed until after Oct. 1, 2015
There are just 300 working days left until October 1, 2014. That date should ring a bell because it is the day that the tenth edition of the International Classification for Disease (ICD-10) will be put into effect. If that seems like plenty of time you are probably far behind in your preparations. Anyone who has already begun the transition can tell you that the work load is significant. If you want to catch up or stay on track with your transition from ICD-9 to ICD-10, take a few tips from the people who are already learning how to prepare for ICD-10.
As competition among healthcare providers increases, and insurers work to decrease costs, new emphasis is being placed on patient satisfaction. Part of the Bundled Payment program of Medicare includes a patient satisfaction survey. The Hospital Value-Based Purchasing Program also involves patient surveys that measure the overall satisfaction of the patient for in-patient medical treatment.
All medical providers are preparing to switch their billing practices from ICD-9 coding to ICD-10 as mandated by the Health Insurance Portability Accountability Act of 1996 (HIPPA). The change is to take place on after October 1, 2014.