No matter if you are on the facility or the partner side of Revenue Cycle Management, there is a lot of information, both legal and regulatory, to keep up with to maximize reimbursements. Here are a few things of interest that we are reading right now:
When it comes to medical billing collection rates, we’ve all heard “no margin, no mission.” That’s why you devote so much time to keeping your center afloat. But the reverse is also true: no mission, no margin. If you’re devoting too much time to the billing side of your practice, it’s the patients who suffer.
Hospital readmission penalties seem to have been working as intended, by driving down 30-
day hospital readmissions and saving Medicare roughly $2.3 billion between 2010 and
2016. The unintended consequence, however, was that hospitals serving the poorest of
the poor were the most frequently penalized. Medicare has made changes to mitigate
that, but safety-net hospitals still struggle with reducing hospital readmissions largely attributable to social determinants of care, and they still risk penalties that could push them over the fiscal
Need another resolution for 2019? Probably not, but we have one for you anyway, and it’s important. We’re counseling our safety-net clients to pay closer attention to what’s going on with CMS.
CMS continues to encourage and financially incentivize providers to implement Medicare chronic care management (CCM) programs. A few big-picture numbers help explain why.