Proper funding can help your practice to rise above some challenges. 9 Challenges funding can help your medical practice overcome Medical practice funding is often best used to support growth initiatives that will increase your practice’s revenue—thus increasing the chance that you’ll be able to pay off your loan on time. However, sometimes medical practices […]
Lawmakers had landed on $15.6 billion as of a Wednesday morning draft but ultimately removed the relief following pushback from Republicans, according to House Speaker Nancy Pelosi. That draft, divided into $10.6 billion for domestic efforts and $5 billion for international support, already fell short of the $22.5 billion requested by the White House just […]
Medical Coding Updates and Insights Unveiled Effective April 1, 2022, the HCPCS Level II code set, which is employed to record medical services and provisions, will encompass the integration of 37 novel codes. Furthermore, the second quarter revision encompasses the elimination of five codes and a refinement of the description for one modifier. Lay Terms […]
Medicare Advantage plans expanded their supplemental benefits offerings in 2022, with more health plans offering special supplemental benefits for the chronically ill (SSBCI), according to an issue brief commissioned by Better Medicare Alliance. Medicare beneficiaries typically join Medicare Advantage plans because of the array of supplemental benefits that the program offers in addition to traditional […]
The third batch of Phase 4 COVID-19 Provider Relief Funds will offer $560 million to 4,100 providers who faced revenue loss during the pandemic and serve vulnerable populations. HHS is distributing another $560 million in Provider Relief Fund Phase 4 payments to over 4,100 healthcare providers that have been affected by the COVID-19 pandemic. Provider […]
National healthcare spending increased by 3.4 percent in 2021, while the Health Care Price Index (HCPI) maintained a year-over-year growth of around 2 percent, according to Altarum’s February 2022 Health Sector Economic Indicators (HSEI) briefs. Unlike the December 2021 and January 2022 briefs, Altarum included federal government expenditures in the February data, which significantly impacted […]
It’s a well-known fact that the U.S. healthcare system is the most expensive in the world. What may not commonly be as understood is that between 15 to 25 percent of total health care expenditures in the U.S. are attributable to administrative costs, and most of those costs are related to billing activities. With many […]
On Feb. 11, the World Health Organization (WHO) released ICD-11 2022. This is the official version of the 11th revision of the International Classification of Diseases (ICD) coding set that WHO member countries will be implementing worldwide. In fact, according to the WHO release announcement, 35 countries are already using ICD-11. The WHO began developing […]
March 1, 2022, is the date by which HIPAA-covered entities must notify the U.S. Department of Health and Human Services Office for Civil Rights (OCR) of “small” breaches of unsecured protected health information that were discovered during calendar-year 2021. A small breach involves fewer than 500 individuals. HIPAA Small Breach Notification Requirements HIPAA requires covered […]
Most patients, including those with chronic illnesses, wanted to be notified via call or text that their virtual visit was about to begin rather than stand by in a virtual waiting room, per a new poll. Though patients have previously made their preference for virtual waiting rooms over traditional ones known, new survey results show […]