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People-Centered RCM to Bend the Healthcare Cost Curve

Posted by David Fong on Dec 18, 2019 8:00:00 AM

A recent Becker's Hospital Review article highlighted healthcare's significance in the American economy. In that, healthcare accounts for more than 17 percent of the nation's gross domestic product, employs more people than any other industry in the nation, and venture capital alone invested more than $23 billion in healthcare in 2018. The article points out that despite these massive investment and the efforts of a talented workforce, many of the nation's hospitals and health systems operate on razor-thin operating margins and face the dual challenge of achieving fiscal sustainability while delivering high quality care to patients.

 

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Topics: ICD-10, Revenue Cycle Management, Medical Coding, Pro-Fee Coding, Facility Coding

Physician Documentation and Coding Can Have Significant Provider Impact

Posted by David Fong on Nov 27, 2019 2:55:00 PM

A recent Forbes article entitled “Physician Documentation And Coding: The Third Rail? showcased the potential missed opportunities to fully understanding the correlation between physician documentation and coding and their resulting effects. Whereas patients may interpret documentation as a doctor providing an account of your visit in your medical record, providers have a far greater impact with documentation. Documentation and coding can affect revenue, quality of care, and potentially expose providers to legal compliance consequences.

 

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Topics: ICD-10, Medical Coding, Coding Compliance, Pro-Fee Coding, Facility Coding

CMS Latest Final Rule Updates Office/Outpatient E/M Coding and Documentation Policies

Posted by David Fong on Nov 15, 2019 6:00:00 AM

The Centers for Medicare & Medicaid Services (CMS) issued a final rule earlier this month that includes updates to payment policies and rates for services provided under the Medicare Physician Fee Schedule (PFS) effective on or after January 1, 2020, as well as updates to its E/M coding starting on January 1, 2021.

 

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Topics: ICD-10, Medical Coding, Coding Compliance, Pro-Fee Coding, Facility Coding

Healthcare Waste Eclipses U.S. National Defense Budget, Study Finds

Posted by David Fong on Oct 31, 2019 3:00:00 PM

The annual U.S. national defense spending budget represents a massive hard-to-imagine number. Now consider the amount of waste in the country’s healthcare system. Likely a large amount, but it must be less than national defense—right? According to a recent article on CBSNews.com titled “Wasted health care spending in the U.S. tops annual defense budget, study finds,” the healthcare waste actually exceeds the FY2019 national defense budget, and is estimated at $760 to $935 billion per year. This is waste on a scale that’s difficult to imagine. It’s about a quarter of the sum total of healthcare spending. The study referenced in the article is from the Journal of the American Medical Association, and details the immense scale of the problem.

 

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Topics: ICD-10, Medical Coding, Pro-Fee Coding, Facility Coding