According to a report released Tuesday by Catalyst for Payment reform, of the $360 billion in payments that Medicare made to providers in 2013, 58% came through traditional fee-for-service models, with no focus on quality. This report creates a reference point for measuring the implementation of federal payment reforms.Medicare Payments in New ModelsHospital Value-Based Purchasing [...]
According to a report by CMS, CMS paid out more than $380 million in incentive payments through its physician-quality reporting system and electronic-prescribing incentive programs. Despite the payment incentives, 400,000 providers have accepted pay cuts rather than participating in the incentive programs. A Look at the NumbersIn 2015, 470,000 physicians and eligible professionals received a 5 [...]
If you're responsible for managing the revenue cycle, consider what's keeping you up at night. Growing Accounts Receivable Lack of financial visibility Timely filing limits A new healthcare mandate every day Difficulty juggling competing priorities Payers changing their requirements nightly Missed billing errors Compliance audits Lack of follow up on denials Decrease in patient satisfaction Decline in quality [...]
According to a poll by the Kaiser Family Foundation, more Americans approve of the Affordable Care Act (ACA) than disapprove of it. After the disappointing launch of HealthCare.gov in November 2013, approval was only 33%, and rose to only 53% in July 2014. A Look at the Survey Results Democrats favor the law by 70%, [...]
On Thursday, President Obama signed the Medicare Access and CHIP Reauthorization Act, known as “MACRA”. The passing of this legislation ends the series of “doc fixes” and provides 0.5% physician payment rate increases in the next coming years.MACRA Payment Details:Merit-based Incentive Payment Program (MIPS): Replaces previous physician payment incentivesAlternative Payment Models (APMs): Physicians can opt [...]
San Diego, CA, April 21, 2015 – CHMB, a leading provider of revenue cycle management services, announced a partnership agreement with Meridian Specialty Hospitalist Solutions, which provides physician services to community hospitals. Meridian will focus on providing highly effective, comprehensive, and financially viable Hospitalist programs to their clients while CHMB manages the complexities of collecting [...]
On Tuesday, The Senate voted 98-2 to permanently repeal Medicare's sustainable growth-rate formula (SGR), a day before the CMS will begin to process claims at a reduced rate. President Obama has announced that he intends to sign the Medicare Access and CHIP Reauthorization Act of 2015 (H.R. 2), which will set up a two-track payment [...]
According to a survey from Gallup-Healthways released on Monday, nearly 9 out of 10 adults report that they have health insurance. This survey, which has been tracked since 2008, combines government-sponsored research and timely media polls with 500 people interviewed per day. A Look at the Results: The number of adults without health insurance dropped [...]
According to The Centers for Medicare and Medicaid Services (CMS), an estimated 36,000 customers have selected health plans of HealthCare.gov in order to avoid tax penalties as of March 29. The administration is offering a grace period from March 15 to April 30 to people who will pay a tax penalty because they did not [...]
On Monday, April 6, the CMS announced that Medicare Advantage payment rates will increase by 1.25% on average in 2016. With the expected growth of risk scores, payments will increase 3.25% on average. The government estimated last February that these rates would decline 0.95% on average and would increase to 1.05% when risk scores are [...]