The 2024 Medicare Physician Fee Schedule, recently released by CMS, confirms the anticipated reduction in payments for physicians. The finalized conversion factor of $32.7442 represents a 3.4% decrease from the 2023 rates, which themselves saw a 2% reduction from 2022. In contrast, the Medicare Economic Index, a gauge of practice cost inflation, surged to 4.6%, […]
Telehealth has gained widespread acceptance among numerous medical practices and hospitals owing to its convenience, accessibility, and effectiveness in curbing the spread of infectious diseases. However, it’s important to recognize that telehealth is not exclusive to large institutions; small practices can also reap its benefits. Telehealth, also known as telemedicine, revolves around utilizing technology to […]
On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released a proposed rule seeking public feedback on proposed policy changes for Medicare payments under the Physician Fee Schedule (PFS) and other Medicare Part B issues. These changes are set to take effect on or after January 1, 2024. The proposed rule for […]
The 2024 Medicare Physician Fee Schedule proposal includes a reduction of 3.4% to the conversion factor that determines Medicare payment rates. This reduction will widen the gap between practice expenses and reimbursement. If the proposal is approved, the new conversion rate will be $32.7476. Here are some other key highlights of the CMS proposal: The […]
After years of longing for an update, the U.S. healthcare system is finally undergoing the crucial modernization it desperately needs. Dedicated IT professionals within healthcare organizations are now diligently developing enhanced electronic health records (EHRs) that promise increased efficiency and effectiveness. This transformative process entails integrating EHRs with state-of-the-art patient-access technologies. Consequently, various healthcare practitioners, […]
A new bill pending in Congress could make permanent the telehealth changes that proved beneficial to physicians and patients during the COVID-19 pandemic. Additionally, a leading physician group is now backing site-neutral payment for medical services. These two topics have recently been the subject of renewed discussion due to proposals by federal policy makers. CONNECT […]
The healthcare industry is constantly evolving, and medical billing is no exception. With the ever-changing landscape of healthcare, it’s important to stay up-to-date on the latest changes in medical billing and how they relate to medical billing companies and medical billing services. In this blog post, we’ll discuss the top 5 changes in medical billing […]
Contrary to widespread hopes, the growth in telehealth brought on by the COVID-19 pandemic probably won’t lower health care costs. But it may make some services more widely accessible. A new Kaiser Family Foundation study compares average 2020 commercial insurance payments for evaluation and management and mental health therapy claims for services provided via […]
In an era of resource scarcity for many, it’s imperative for healthcare organizations to strategically identify areas of concern unique to them and on a broader spectrum. Healthcare business professionals and clinicians from entry-level departments to the C-suite should have at minimum a risk assessment in these areas and, ultimately, put in place policies and […]
Opponents of the loosened interstate telehealth restrictions that were instituted at the start of the COVID-19 pandemic argued that it would result in out-of-state doctors luring patients away from their current physicians. But a new study finds that most out-of-state telehealth is used for continuity of care, not acquiring new patients. The study compares interstate […]