Tag: Medical practices

2024 Patient Experience trends

Healthier Horizons: Patient Experience Trends for 2024

The healthcare landscape is undergoing an unprecedented evolution, set to drive a significant transformation in patient experience in 2024. Recent technological advancements, coupled with increased patient expectations for enhanced care, are converging with a comprehensive approach encompassing clinical, social, and behavioral facets of patient well-being. This convergence necessitates the modernization of care delivery systems to […]
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Patient Care Could be Affected by 8.5% Cut on Medicare Payments

An 8.5% cut to Medicare payments could affect patient care in medical practices across the country. Reducing charity care, new Medicare patients, staff, and locations all are among the effects projected if Congress does not act on 2023 reimbursement levels, according to a new study by the Medical Group Management Association (MGMA). The findings came […]
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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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How COVID-19 is Affecting Practices Financially

The Medical Group Management Association (MGMA) reported in late April that 97 percent of medical practices have experienced a negative financial impact directly or indirectly related to COVID-19. This includes a 60 percent decrease in patient volume and a 55 percent decrease in revenue since the beginning of the pandemic, resulting in many practices forced […]
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Mastering Revenue Cycle Management

Mastering Revenue Cycle Management

Doctors are fond of complaining that they didn’t go to medical school in order to practice business, but independent physicians do spend much of their time on their practices’ finances. That requires mastering revenue cycle management (RCM), the financial process practices use to administer all the functions associated with claims processing, payment, and revenue generation. […]
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7 Best Practices to Improve Professional Fee Revenue Cycle for Better ED Bottom Lines

Most healthcare organizations partner with physician services groups for niche coverage. While outsourced medical services are available across all specialties, common areas for external physician support include anesthesia, radiology, wound care, and emergency medicine. However, when outsourced physician services are used, challenges to ensure accurate reimbursement for both components of care—the hospital portion and the […]
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  • January 23, 2019

Four Ways RCM Must Transform for the Shift to Value-Based RCM

Value-based care is driving transformation of many established operations within medical groups—and the revenue cycle is no different. It is likely that 2018 will be remembered as the year that value-based care became a financial reality for most U.S. medical practices. Those participating in MIPS (the Merit-based Incentive Payment System) received their first round of […]
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