The E&M categories that will undergo revision in 2023 encompass: Inpatient and observation care services. Consultations – both outpatient and inpatient Emergency department services Nursing facility services Home and residence services Prolonged services Throughout the upcoming months, a dedicated focus will be placed on each E&M category, delving into the revisions and changes in guidelines. […]
Health systems that used automation for revenue cycle operations had an average cost-to-collect of 3.51 percent compared to 3.74 percent for those that did not use automation. Using automation for revenue cycle operations could lower hospital and health systems’ cost-to-collect by 0.25 percent, according to a survey from the Healthcare Financial Management Association (HFMA). The […]
The 2023 CPT code set will update the rest of the E/M code section after significant changes in 2021, as well as revise AI and virtual care codes. The American Medical Association (AMA) has released the Current Procedural Terminology (CPT) code set for 2023, which contains updates that aim to reduce medical coding burden for […]
Prior Authorization reform in Medicare Advantage would help relieve administrative burden for medical groups and reduce patient care delays, MGMA said. The Medical Group Management Association (MGMA) has urged CMS to implement policies that support prior authorization reform and value-based care contracts within the Medicare Advantage program. MGMA submitted comments to CMS Administrator in response […]
‘Good labors are the great resource for the company’ Here are the ICD-10 CM codes for general injuries in the workplace. ICD-10-CM – Z77. 29: Exposure to Harmful Substances or Environments Z77.29 is a specific/billable code for Exposure to Harmful Substances that is used to indicate a diagnosis for reimbursement purposes. W22. 8XXA – Moving […]
Another study confirms that medical billing costs in the US significantly exceed those in similar countries, but researchers now know why: coding drives up US administrative spending. Complex coding structures in the US are driving up medical billing costs in the US, making it one of the most expensive countries to get paid, according to […]
A survey shows that 60% of consumers who look for pricing information seek answers from their insurance companies, but healthcare price transparency should still be a priority for providers. Not many consumers are asking how much healthcare services cost but among those who do, they are seeking answers primarily from their insurance companies, according to […]
Health insurer reports second quarter numbers, boosted by performance of subsidiaries UnitedHealthcare and Optum Health. UnitedHealth Group reported a promising second quarter, achieving 13% revenue growth behind member expansion at UnitedHealthcare and value-based arrangements at Optum Health. The payer’s Q2 results were highlighted by revenue growing from $71.3 billion to $80.3 billion year-over-year, while earnings […]
Effective from discharges/visits on October 1, 2022, the 2023 Official Coding and Reporting Guidelines for ICD-10-CM have been established. On July 7, 2022, the Centers for Medicare and Medicaid Services (CMS) issued MLN Connects, featuring an article focusing on long COVID. This article imparts guidance on coding practices for both long COVID and ongoing COVID […]
Open communication, payment options, and understanding are all key to improving patient collections in a consumer-oriented healthcare landscape. The rising cost of healthcare in the United States has left consumers feeling lost and overwhelmed. High deductible healthcare plans, co-pays, and out-of-pocket medical expenses have all contributed the emergence of healthcare consumerism, which is the pursuit […]