When medical claims are denied, it costs practices money, resources and time. Not only has the practice wasted the time and effort it originally devoted to coding the claim, but it must now use additional resources to track down the reason for the denial and fix it. Only then can the claim once again be processed for payment. This also means the medical practice is without payment for a longer period of time.
Most practices have been working hard to keep up with the Covid-19 and telehealth billing and coding changes – as well as the varying rules between payers lately – over the past six months. But looking ahead to 2021, there are some significant E/M Coding changes coming for the new year.
Previously, in response to complaints by providers and with the executive order from President Trump directing agencies to start cutting red tape, the Patients Over Paperwork initiative was introduced in 2017. That led to CMS proposing revisions to E/M Coding rules that went into effect in 2019, and more extensive changes are going into effect on January 1, 2021.
Healthcare costs keep climbing, and patients continue to be responsible for more of the cost of care. With patient financial responsibility growing, providers have a great opportunity to boost revenue, but collecting from patients also comes with unique challenges, particularly in the current health crisis.
Over the past several months, the entire fabric of the world and healthcare system has been forced to change due to the global pandemic. Covid-19 impacted every aspect of healthcare, and continues to do so, including the way the revenue cycle works. Many communities and practices dedicated all their resources to fighting the continuing pandemic, and companies across the country had to lay-off or furlough employees to avoid losing their business.
Let’s face it. We’re now in an era where it is safer and more cost-effective to meet with our patients via video conference than it is to be directly in person. While this might make some practitioners feel as though they are losing the personalized attention they’ve given their patients in the past, this new way of practicing medicine is actually a really good thing as it helps everyone maintain social distancing guidelines. Here are a few of our top tips for making telehealth visits more successful for your practice and your patients.
With Covid-19 changing the way healthcare operates, not only in the U.S. but also around the world, there’s a lot more talk about universal healthcare, also known as Medicare for All, but what could it mean for patients and providers? While the debate around Universal healthcare has been front and center for years, the growing healthcare needs of a country affected by a global pandemic has brought the topic to the forefront once again.
What is universal healthcare? How will it work? What would it mean for a medical practice? Here’s a closer look at a few things you may need to know.
