It’s that time of year again! A new proposed rule dropped this month from the Centers for Medicare & Medicaid Services (CMS) regarding physician fee schedules and Medicare shared savings for Calendar Year (CY) 2024. As always, the proposed rule is merely an indication of what may be finalized in November.
Having a basic fund of technology knowledge will allow physicians to make informed decisions and effectively communicate their needs with their staff and with Health IT representatives. Unfortunately, most medical schools don’t prepare physicians for technology conversations.
As many of us come upon the end of our fiscal year it’s a great time to refresh the resource library that our staff has access to. Updating these documents doesn’t have to be painful. Delegate to trusted team members and then meet as a team disseminate the updated information.
Accounts receivable is often one of the most important areas of revenue cycle management as it represents potential money. In fact, A/R is considered an asset for that reason. The challenging part is that if A/R is not followed-up with quickly enough it can become a liability for the organization instead. Non-federal payers typically have timely filing/appeal limits between 120 – 180 days on average. When A/R ages beyond that it largely becomes uncollectable.
Discarded drugs have had a tumultuous history in healthcare. Though there are ways to bill for discarded drugs it can be challenging to receive adequate compensation for the amount wasted and the time taken to bill for them.
The gap between the skills that employees currently have and the skills they need to be proficient at their jobs are called skills gaps. As leaders, it is our responsibility to identify these gaps and to approach skills gap assessments and training from a position of positivity.
A lot has changed in the last three years, so it makes sense that the Covid “emergency” is coming to an end. When it will end is something we still will not know until we know, but all indications point to the end of the Public Health Emergency (PHE) sometime this spring.
This isn’t the first time we’ve discussed this and full transparency, it probably won’t be the last. Though patients have plan changes throughout the year, January 1 is always going to be a significant date to collect new insurance information because of the huge quantity of individuals whose plans expire/renew at the end of each year.
The Final Physician Fee Schedule (PFS) and Quality Program Rule for 2023 was released on November 1, 2022, and with it, some significant changes.
The banking industry has long been a major player in the healthcare space, providing financing for everything from medical equipment and facilities to providers themselves. In recent years, however, banks have become much more involved in the day-to-day operations of healthcare organizations through the development of new products and services specifically designed to help with the management of healthcare practices and organizations.
We’d love to see your smiling face in person, but we know that your banking needs happen 24 | 7 | 365. Feel free to bank from your couch, your office or a beach somewhere warm.