Category Archives: Healthcare Industry News and Trends

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Reform Update: Doc groups concerned over looming Medicare penalties tied to quality reporting

Medical Groups Concerned Over Medicare Reporting Penalties

Medical groups seeking to participate in the 2014 PQRS’ group practice reporting option must register by Sept. 30, yet those who participated in the 2013 program received notice last week if they qualified for incentive payments. If physicians met PQRS quality-measure reporting criteria in 2009 and 2010, they received a 2% bonus of their Medicare…

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CMS launches Open Payments website

CMS launches Open Payments website

The Centers for Medicare and Medicaid Services (CMS) has released 4.4 million payment records, totaling nearly $3.5 billion, made from drug and device manufacturers to physicians and teaching hospitals during the last five months of 2013. As a requirement of the Affordable Care Act, CMS has launched its Open Payments website. It currently contains payment…

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WEDI Reports Industry ICD-10 Readiness

WEDI Reports Industry ICD-10 Readiness – Small Practices Lag Behind

While vendors and health plans continue to make progress the Workgroup for Electronic Data Interchange (WEDI) reports that providers are not progressing past where they were before the ICD-10 delay. The switch to the ICD-10 code set was originally scheduled to launch in October of 2014 but has been delayed until October of 2015.  The…

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Regulatory Burden Forces More Staff

MGMA: Regulatory Burden = More Staff

Increasing administrative work also increases costs.  We all know that.  Recently the Medical Group Management Association (MGMA) put the numbers to that fact.  The average cost?  $52,000 per FTE physician. Debra Beaulieu-Volk summarizes these findings in her recent article.  She reports that as regulatory and administrative burdens on medical groups increases, so also does the…

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PQRS

CMS Announces Group Practice Reporting Option for PQRS

Group practices of eligible professionals (EPs) wanting to receive incentives through the Physician Quality Reporting System (PQRS) now have the ability to sign up using the group practice reporting option (GPRO) and avoid payment adjustments in 2016, according to the Centers for Medicare & Medicaid Services (CMS). The 2014 reporting period runs from January 1…

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Medsynergies Optum

BREAKING: Optum buying MedSynergies

MedSynergies, a privately-held company headquartered in Irving, Texas, provides billing, collections, revenue-cycle and other business and consulting services to more than 9,000 physicians and healthcare professionals. It had about $100 million in revenue in 2012, its most recent available data. The company also has several joint ventures with large health systems, including Texas Health Resources,…

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Don’t Make These Two Classic Managment Mistakes

Unbridled IT projects and lack of communication have been the cause of much waste in healthcare.  Just this last week I encountered a client that had major cost overruns because of unclear communication with their IT department.  This group had simply given IT a general directive on a sizable project and simply left them to…

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Black Book Rankings

Black Book Award Winners Showcase Revenue Cycle Cycle & Coding Solutions at 86th AHIMA

The number of outsourced coding and revenue cycle management initiatives have doubled over a years’ time as the number of hospitals confront the challenges of implementing suitable solutions before the 2015 ICD-10 deadline, according to the recently published Black Book™ surveys of hospital technology and physician leaders. This week many of those leaders will gather…

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