Looking into its crystal ball - or perhaps digital spreadsheets - PiperJaffray analysts see big plays in the RCM market. That potential is so large, in fact, that Cerner alone has a $40 billion opportunity, and it ranks fifth in market share.
Time to take stock. Before the U.S. Senate and House of Representatives return from vacation on September 8 there will not be any legislative action to delay or kill ICD-10. Practices that put the code set conversion on a back burner would be wise to reevaluate that decision now.
It's a hard pill for practices to swallow, being asked to operate with curtailed revenue for six months following the implementation of ICD-10. That said, reimbursement delays needn't spell out doom for providers — not if they consider these steps.
A few basic steps will move your practice into better position to handle the coding transition. If you've been skeptical about moving ahead, consider that you'll be improving your revenue cycle — regardless of what may happen in Washington.
With one out of every five claims being improperly processed, medical practices can avoid leaving money on the table. Here's a look at some of the tools and techniques for preventing denials in the first place.
Wolters Kluwer Health, a leading global provider of information for healthcare professionals and students, announced today that SummaCare has selected its Health Language applications to aid with the complex transition to ICD-10. As part of its readiness strategies for the approaching deadlines, the health insurance company will leverage LEAP I-10 and Provider Friendly Terminologies to ensure successful compliance.
Amphion Medical Solutions, a leading provider of advanced transcription and coding solutions and services, makes the transition to ICD-10 more manageable with its innovative, fast-paced webinar series featuring tips and best practices from AHIMA-approved trainers.
Through its partnership with HealthStream, Precyse University, the most innovative, complete and widely adopted on-site, online and mobile ICD-10 education solution, has launched a powerful and unique ICD-10 education program for the physician office/ambulatory market.
Elsevier’s MC Strategies, a leader in providing eLearning solutions to more than 1,300 healthcare organizations, today announced the continued development of its ICD-10 Roadmap with the introduction of new curricula, including a comprehensive clinical documentation curriculum.
Veridex, LLC announced that the Centers for Medicare and Medicaid Services (CMS) will determine payment rates for two new Current Procedural Technology (CPT) codes for circulating tumor cell (CTC) testing. CPT codes are assigned by the American Medical Association (AMA) to medical, surgical, and diagnostic services to communicate uniform information about medical services and procedures among physicians, patients, payers and others for administrative, financial, and analytical purposes.
Alpha II, a leader in healthcare coding, compliance and reimbursement, announced today that iMed Software of Lafayette, La. has selected Alpha II’s CodeWizard software to ensure accurate coding and compliance. Alpha II’s technology has been integrated with iMedEMR to generate evaluation and management (E&M) codes to deliver a more decisive calculation based on history, exam and medical decision making information obtained from medical records.
Health Language, Inc. (HLI), the global leader in healthcare terminology management, today announced that MDeverywhere, a provider of physician revenue cycle management services, has selected its Language Engine (LE) and provider friendly terminology (PFT). MDeverywhere will integrate the HLI software with its Web-based charge capture software to make it easier for clinicians to record diagnoses and problems, while supporting standardized terminologies such as SNOMED CT and ICD-10.
In order to receive reimbursement for patient claims, U.S. healthcare providers must begin using a revised global system for classifying medical diagnoses and inpatient procedures by Oct. 1, 2014. While more than two years sounds like plenty of time to implement a new system, the number of possible diagnostic codes will increase dramatically from 14,000 to 68,000, while the number of inpatient codes will increase from 4,000 to 87,000. Crowe Horwath LLP, one of the largest public accounting and consulting firms in the U.S., suggests steps that providers can implement ahead of the conversion deadline for a smoother transition.
A new ICD-10 financial impact analysis tool and comprehensive ICD-10 financial impact consulting services are the latest additions to the full suite of ICD-10 transition planning solutions offered by 3M Health Information Systems. The new software and services are designed to help healthcare organizations analyze the reimbursement impact of ICD-10 in order to identify and target critical revenue and operational impact areas for improvement.
DataMetrix, a medical auditing and data mining company founded by one of the original authors of today’s Certified Medical Audit Specialist exam, recently introduced an ICD-10 training seminar created exclusively for health plan clinical review staff. The first of several scheduled sessions, the DataMetrix course received high marks from participants according to Chief Executive Officer Mary Jane LaBelle.
A substantial part of physicians' office overhead is related to providing codes for insurance claims. And a major part of the revenue of the American Medical Association (AMA) is derived from its exclusive copyright on the Current Procedural Terminology (CPT) codes required on Medicare claims.
Health Language, Inc. (HLI), the global leader in healthcare terminology management, today announced its partnership with Siemens Healthcare, Malvern, Pa., to offer enterprise-wide ICD-10 remediation services. Through this collaboration, Siemens customers will be able to meet ICD-10 compliance more efficiently by using HLI’s LEAP I-10 tool.
AAPC (www.aapc.com), a leader in enabling the business side of medicine, announced the CPPM™ (Certified Physician Practice Manager) credential. This advanced certification is designed for practice managers wanting to validate their expertise, and for those with strong coding/billing experience who are ready to advance their careers in practice management.
MedAptus®, the market leader for charge capture technologies, today announced that it has selected Intelligent Medical Objects' IMO® Problem (IT)™ search engine for integration in its Professional Charge Capture solution. This advanced search capability will provide clinical end-users of MedAptus with a rapid diagnosis search experience along with a higher degree of search accuracy when completing charge documentation using the ICD-10 code set.