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Choosing a good medical claims processing software

We are going to discuss now, about the features that good medical claims processing – the medical billing software should possess. Well, most of us would have already chosen a software that suits our needs or at least learnt to survive with a software that’s chosen in rush. Some of us may even be in look out for good medical billing software as well. Whatever be the case, we should know the latest advancements that different medical claims processing software companies have introduced in the recent years. Is it really important to spend time in analyzing the features to choose suitable medical claims processing software? Certainly. Experienced medical claims processing professionals would have realized that medical billing software plays a major role in healthcare revenue cycle management process and aids in every step towards collecting money. The better the features are, you will get maximized benefits. But, it is tough to find all advanced features in the same software. Continue reading “Choosing a good medical claims processing software”

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e-Prescribing – an Overview

e-prescribing, as clearly explained by CMS, ‘is the ability of the qualified physicians to electronically generate an understandable prescription and send directly or through commercial pharmacy network to a participating pharmacy’. The main reason behind implementation of e-prescription is to reduce medication errors & improve quality of care in the United States.

Latest research reports on medical errors indicate that every year in the U.S. 1.5 million people are affected and thousands of people die due to ‘medication errors’. The alarming numbers reveal the need to follow a prescribing system that improves the accuracy of prescription. That’s why there is a strong push from the government of the United States to implement e-prescription system.

‘e-prescription implementation – incentive & penalty plan’ put forth by CMS.

CMS encourages physicians to implement the new electronic prescribing system by providing financial incentives if they implement e-prescribing on time and penalizing if they don’t. Continue reading “e-Prescribing – an Overview”

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Clinical documentation needs of ICD-10

Clinical documentation is an integral part of health Information Management. The clinical documentation needs doesn’t end with diagnosis and treatment of patients. It is also needed for efficient medical claims processing. Clinical documentation remains the source for the coders to assign the exact diagnosis and procedure codes. Let’s explore more about the dependency on clinical documentation with ICD-10. Continue reading “Clinical documentation needs of ICD-10”

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Coping with productivity drop during ICD-10 transition

Many healthcare entities as well as medical coding & billing companies are concerned about ICD-10 transition. What’s stopping medical coding & billing companies? Apart from the initial hurdles and cost factor, the main troubling parameter is productivity drop during ICD 10 transition. It is estimated that there will be a drop in productivity by 20-50% during ICD-10 implementation, varying for different medical claims billing entities.

It is common that there will be stagnancy in work during implementation of any new process. But ICD-10 has turned out to be a big challenge to the medical claims billing industry, affecting the daily operations. To balance this, it is essential to follow a streamlined productivity improvement plan that will efficiently solve the productivity issues. Continue reading “Coping with productivity drop during ICD-10 transition”

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Overview of ICD-10

Process revisions and implementations are not new to the US medical claims processing industry. But, after the ICD-9 transition in 1970s, ICD-10 is the major change that the medical billing and coding industry faces. We know that United States is not the first nation to implement ICD-10. Canada implemented ICD-10 in 2001, Germany in 2000, Australia in 1998, and the United kingdom in 1995 itself. As opposed to other nations that implemented ICD-10, the US has much enhanced ICD-10 coding setup due to the medical advancements that has happened during these years.

Continue reading “Overview of ICD-10”
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10 steps to gateway of smooth ICD-10 transition

It is long since we started talking about ICD-10 transition. But, still most of us are unclear as what to do with the implementation. We are in fact awaiting the HIPAA 5010 change by January 1, 2012 that’s going to redefine healthcare compliance & enhance medical claims processing. This version will support ICD-10 changes which 4010 & 4010A cannot. should we wait till we go live with 5010 or at least till we hear final freeze updates from medicare or WHO? Continue reading “10 steps to gateway of smooth ICD-10 transition”

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Getting your practice running better with more collections

If I say this, it would give a better meaning if I mention about improving the medical billing collections. In the United States, healthcare industry functions in a totally different way. Practices not only have to care about curing the patients and coping with technology and medical advancements, but also have to run behind the uncollected money. It is unfair but has become an essential part of the day-day operations of any practice. Continue reading “Getting your practice running better with more collections”