Month: January 2021

CMS to Reprocess Some Outpatient Claims After Site-Neutral Ruling

CMS to Reprocess Some Outpatient Claims After Site-Neutral Ruling

CMS has announced that it will reprocess hospital outpatient claims from last year for clinic visit services provided at excepted off-campus provider-based departments. The agency will start reprocessing the claims in July 2021 in order to pay all hospitals the same rate as non-excepted off-campus provider-based departments for clinic visit services paid under the Physician Fee Schedule, […]
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AMA Announces Update to COVID-19 Vaccine CPT Codes

AMA Announces Update to COVID-19 Vaccine CPT Codes

The American Medical Association (AMA) today announced that the Current Procedural Terminology (CPT®) code set is being updated by the CPT Editorial Panel to include vaccine and administration codes that are unique to the COVID-19 vaccine candidate under development by Janssen Pharmaceutica, a division of Johnson & Johnson. The new CPT codes will be effective for use […]
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Key Healthcare Financial Technology Trends For 2021

Key Healthcare Financial Technology Trends For 2021

  More than 80% of survey respondents stated that they have confidence in their organization’s ability to “rapidly adjust their plans and strategies.” Healthcare finance leaders are more optimistic about the ability to adjust to a changing business environment and utilize quality data in the decision-making process, according to the 2021 Healthcare Financial Trends Survey report released […]
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CMS Accelerates Medicare Beneficiaries’ Access to Innovations

CMS Accelerates Medicare Beneficiaries’ Access to Innovations

Medicare beneficiaries now have immediate access to innovative medical technology approved by the U.S. Food and Drug Administration (FDA), rather than having to wait for it to clear additional bureaucratic hurdles before coverage is approved. The Medicare Coverage of Innovative Technology (MCIT) final rule issued this week eliminates the time and cost innovators were formerly […]
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2021 ICD-10-CM Coding Guidelines Get a Refresh

2021 ICD-10-CM Coding Guidelines Get a Refresh

Several changes have been recently made to the ICD-10-CM Official Guidelines for Coding and Reporting for fiscal year (FY) 2021. The guidelines changes affect code assignment for conditions and symptoms related to COVID-19. The Centers for Medicare & Medicaid Services (CMS) released the updates in December 2020. Familiarize yourself with the following new and revised guidance to […]
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New COVID-19-Related ICD-10-CM Codes Take Effect

New COVID-19-Related ICD-10-CM Codes Take Effect

International Classification of Diseases, Tenth Revision, Clinical Modification (ICD-10-CM) broke from the usual release schedule and implemented the following six new codes related to COVID-19 on Jan. 1 and issued accompanying guidelines. Z20.822 Contact with and (suspected) exposure to COVID-19 For asymptomatic individuals with actual or suspected exposure to COVID-19, assign code Z20.822. For symptomatic […]
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Recovering From Covid-19_ How Practices Can Maintain the Revenue Cycle In 2021

Recovering From Covid-19: How Practices Can Maintain the Revenue Cycle In 2021

  Five tips for improving RCM in a post-pandemic world As a result of the COVID-19 pandemic, the American Hospital Association (AHA) estimates that hospitals and health systems have lost more than $202 billion from a drop in revenue, combined with COVID-19 expenses, during the four-month period from March to June 2020. Healthcare services expenditures also dropped 38% in […]
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Physician Fee Schedule Updates May Increase Reimbursement, Time with Patients

Some updates to the evaluation/management codes on the 2021 Physician Fee Schedule will provide greater reimbursement to physicians and allow them to spend more time with patients, CMS and medical societies said. According to CMS, the code sets that it is finalizing will increase the value of certain services. These include: cognitive impairment assessment and care […]
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