Medical billing services play a very important role in making sure that the transaction between the payer and provider is a smooth one. Their purpose is to make sure that the client pays the right amount, while at the same time making sure the practice has billed the correct amount to the client, and the correct codes have been submitted to insurance! Sounds like a lot of work, doesn’t it? Well – it really is, which is why it is really important for practices to make sure they know how to best choose a medical billing service to work with.
Whether you are the owner of a medical practice, or looking to start one in the future, it is important for you to understand that you are (or could) potentially be loosing out on revenue. Most medical practices face financial crisis because of reduced remunerations and increased overhead. What matters right now is that you take proper measures to make sure that your practice has a solid future in terms of reputation and quality of service.
The 2014 Medicare physician payment schedule was finalized on November 27, 2013 when the Center for Medicare and Medicaid Service (CMS) released its final schedule. This document establishes the framework and payment schedule for medical providers and includes several critical changes from previous years. Some of these changes will reduce certain payments to physicians and other providers when these rates take effect.
The Centers for Medicare and Medicaid Services (CMS) along with the Office of Management and Budget (OMB) have given final approval for the Version 02/12 1500 Health Insurance Claim Form and the implementation date of April 1, 2014 is fast approaching. Failure to use these new forms can result in significant delays in processing medical payments as well as a possible rejection of certain claims.
President Obama and his administration have been working with Congress to find a permanent solution for the elimination of the Sustainable Growth Rate (SGR) reductions that were scheduled to take place on January 1, 2014. In the interim he has signed into law the Pathway for SGR Reform Act of 2013 that includes several provisions to eliminate the expected reductions in coverage through March 31, 2014.
By any measure, Windows XP was one of the most popular operating systems ever released by Microsoft. It is still being used today on computers and laptops nearly 13 years after its introduction. Microsoft’s announcement of their ending support for Windows XP on April 8, 2014 means that many computers used in the healthcare industry that rely on this operating system are now technically out of compliance with HIPPAA regulations. This end of support leaves the operating system vulnerable to security flaws and other errors without the regular updates that Microsoft was supplying while the software was under official support. (more…)