The primary goal of a medical practice is to serve patients. However, medical practices are also businesses and have the same aspects and concerns of any business. Chief amongst these concerns is getting paid for your services. How do you know if you are leaving money on the table? Here are a few questions your practice should to be able to answer.
In a recent study released by industry expert ACFE it was determined that small businesses are much more vulnerable to occupational fraud. With cases of check tampering, skimming, payroll and cash larceny schemes occurring more than twice as frequently in small businesses in comparison to larger organizations. Here are some cost effective solutions that will help you protect your business.
With the popularity of high deductible health insurance plans spiking, medical practices are seeing increased difficulty collecting payments from their patients. Patients are confused over their owed amounts, and this leads them to delay payment on bills. Even when they agree on the amount they owe, many patients simply cannot afford deductible amounts that can quickly rise into the thousands of dollars. Some patients have access to credit instruments to satisfy their obligations, but many do not. This issue is reaching a critical level for many hospitals, doctor’s offices and other healthcare practices.
The CMS describes MACRA as “a new payment framework that rewards health care providers for giving better care instead of more service.” Now that the final MACRA rule is out, providers were asked how they feel about their MACRA preparations.
Recently reported by Managed Healthcare Executives, the healthcare industry is abuzz with predictions about the future of the Affordable Care Act (ACA). As stakeholders anxiously await the impact of a Trump administration agenda, there is at least one safe bet that all can make: value-based care is here to stay.
Lately the big question on everyone’s mind is, “What will happen if the ACA is repealed?” In this week’s issue of the Pulse we are going to take this question one step further and explore how it could affect your healthcare business. It’s no secret that the Trump administration and the Republican controlled Congress are will attempt to repeal Obama Care, possibly beginning with the law’s insurance premium tax credits and expansion of Medicaid eligibility.
The Boston Globe reports, A Harvard Medical School study suggests that changing the way doctors are paid could narrow some of the health disparities between poorer and wealthier patients.
As stated in Forbes, late last year, while most of the world was distracted by the national election, House Republicans advanced their agenda on a Medicare "reform plan." Don't be fooled by the mashing of "reform" into a program that covers nearly 70 million people. The Republicans want to eventually privatize it, raise the eligibility age and cut benefits.
According to Boston.com, the speed of Republican efforts to repeal the Affordable Care Act has stunned health industry lobbyists, leaving representatives of insurance companies, hospitals, doctors and pharmaceutical makers in disarray and struggling for a response to a legislative quick strike that would upend much of the American health care system.
Recently published in Forbes, you can’t open an industry publication today without reading how technology is improving healthcare. The walls of paper records that used to dominate physician offices are giving way to cloud-based electronic health records (EHRs). The bring your own device (BYOD) movement has empowered caregivers to use medical apps on their phones and tablets in the workplace. 3D printers are creating models for surgical planning and even making custom implants. Robots are assisting surgeons and physical therapists. Gene mapping is opening new horizons for individualized care.