Why do an annual risk assessment?
Smart clinicians make the time – ideally at the beginning of the year – to conduct a risk assessment of PHI sharing procedures, records management and cyber safety issues. Review the latest changes in governmental and payer regulations and requirements, with the help of your IT team as well as a legal adviser familiar with healthcare billing and reimbursement, to ensure that your practice is compliant with all guidelines.
With 2018 in the record book, it's time for physicians to start looking ahead to 2019. Changes to the ways in which payers reimburse physicians for services, competition from new providers, and changes to healthcare law will all play a major role in how medical practices run their business. As the year progresses, medical practices should keep the following trends in mind so that they're prepared for the road ahead.
Highlights of 2018 Reviewed
2018 has been quite a year within the healthcare industry for patients, providers and especially medical claims billing. Knowing what to expect can help you to improve and strengthen your own medical billing strategies in 2019 and beyond. Over the past year, we’ve seen new trends and changes in the following areas:
The U.S. Congress passed the federal budget for the fiscal year (FY) 2019 on February 8, 2018, which will fund the government through September 2019. This budget will increase domestic spending by over $128 billion over the next two years, including areas dealing with healthcare. The most significant areas in the FY 2019 budget for medical practices include the following:
The “Millennial” generation, usually defined as those born between 1982 and 1997 (or 1980 through 1994, depending on who you ask) is currently the youngest age group to take its place in the working world, behind their “Gen-X” parents and older siblings, who in turn are right behind the aging Baby Boomers (which currently make up the majority of physicians in the process of retiring or already retired, hence the need for younger replacements.)
