Medical Billing Archives - Page 19 of 32

August 26, 2022
Blog, Medical Billing
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Employers to pay more for employee health insurance in 2023

The average cost per employee is estimated at $13,800 Employers are expected to pay a lot more for employee health insurance in 2023. A study by a professional services firm estimates a 6.5% increase resulting in an average of $13,800 per employee. The 6.5% increase is double the 3% most employers saw in 2021 and […]

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August 24, 2022
Blog, Medical Billing
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Biden Administration Releases Final Surprise Billing Rules

The final surprise billing rules downgrade the weight the QPA has on out-of-network payment determinations and establishes documentation requirements for down coding situations. The Biden Administration has released final surprise billing rules implementing the No Surprises Act, a federal law enacted in January 2021 that protects patients from out-of-network medical bills when they seek care […]

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August 24, 2022
Blog, Medical Billing
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Prior Authorizations and MedPAC Recommendations: MGMA’s view

Prior authorizations and Medicare reimbursements are some of the most consistently cited sources of issues at primary care practices. Anders Gilberg, senior vice president of government affairs for the Medical Group Management Association (MGMA), joined us in April to discuss his organization’s lobbying efforts. The following interview has been edited for length and clarity. Medical […]

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Value-Based Revenue Makes up 6.74% of Primary Care Income

MGMA report shows value-based contracts account for $30,922 per provider The Medical Group Management Association released a report looking at the proliferation of value-based contracts and how quality metrics tie-in to revenue. The report, 2022 MGMA DataDive Practice Operations, shows that revenue from value-based contracts accounted for varying amounts of total medical revenue in 2021 […]

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August 22, 2022
Blog, Medical Billing
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Locum Tenens Physicians To Fill Vacant Positions

Hospitals are increasingly utilizing locum tenens physicians, advanced practice providers (APPs), and telehealth services to address staffing shortages. The Innovation & Flexibility: Journey to Sustainable Healthcare Report reflects data from 129 healthcare administrators representing a range of facility types and sizes. The COVID-19 pandemic exacerbated hospital staffing shortages as many clinicians faced burnout and […]

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August 19, 2022
Medical Billing
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IPPS Final Rules update for Medicare payments for 2023

CMS has published the Fiscal Year 2023 (Oct 1, 2022) final rules for Medicare payments. The major rule is, of course, the inpatient hospital prospective payment system (IPPS) and long-term care hospital (LTCH) PPS rule. The final rule, as reported by Stanley Nachimson, contains several payment and quality program changes that go into effect Oct […]

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August 18, 2022
Blog, Medical Billing
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High Out-of-Pocket Costs Led to Low Patient Collection Rates

Self-pay after insurance patient collection rates dropped from 76 percent in 2020 to 55 percent in 2021 as the share of out-of-pocket balances over $7,500 grew. Patient collection rates at hospitals declined and bad debt increased when out-of-pocket bills reached $7,500, according to a report from Crowe Revenue Cycle Analytics (Crowe RCA). The report reflects […]

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August 12, 2022
Blog, Medical Billing
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Top Recession-Proofing Strategies for Independent Practices

More than half of economists agree that the U.S. economy is headed for a downturn. Contrary to popular belief, the healthcare sector has never been recession-proof. Reports indicate that the healthcare industry is affected later in a recession and has a longer recovery period. Compared to other healthcare facilities, like hospitals and emergency rooms, independent […]

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August 8, 2022
Blog, Medical Billing
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Coding Drives Up Medical Billing Costs in US

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 […]

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August 5, 2022
Blog, Medical Billing
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Hospitals, Physician Practices Saw High Expenses, Revenues in June

Total expenses for hospitals and physician practices were up 7 percent compared to June 2021. Hospitals, health systems, and physician practices saw rising revenues and patient volumes in June 2022, but it was not enough to offset the continuously high expenses, leading to negative margins for the sixth consecutive month, according to data from Kaufman […]

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Category: Medical Billing

Employers to pay more for employee health insurance in 2023

Biden Administration Releases Final Surprise Billing Rules

Prior Authorizations and MedPAC Recommendations: MGMA’s view

Value-Based Revenue Makes up 6.74% of Primary Care Income

Locum Tenens Physicians To Fill Vacant Positions

IPPS Final Rules update for Medicare payments for 2023

High Out-of-Pocket Costs Led to Low Patient Collection Rates

Top Recession-Proofing Strategies for Independent Practices

Hospitals, Physician Practices Saw High Expenses, Revenues in June

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