The healthcare industry has made several great strides in the past few years and the overall quality of patient care and the better patient outcomes is proof healthcare has changed for the better. A key player in these advancements is EHRs (Electronic Health Records). Listed below are five ways EHRs have changed the healthcare landscape.
Under the Affordable Care Act, the healthcare landscape is changing, and your business strategy needs to adjust accordingly. Below are two significant changes that were outlined at the JP Morgan Healthcare Conference in January 2014:
With Open Enrollment for the Affordable Care Act's Health Insurance Marketplace right around the corner (November 15, 2014, to February 15, 2015), it’s time to make sure your practice is ready to handle the increased billing that accompanies increased patient volume.
Here are a few questions to evaluate your current billing processes:
Open Enrollment for the Affordable Care Act’s (ACA’s) Health Insurance Marketplace runs from November 15, 2014, through February 15, 2015. During this time, individuals who are eligible to enroll in a Qualified Health Plan can do so through the marketplace.
More than 8 million people signed up for private health insurance during the last open enrollment period (October 2013 through April 2014), with millions more signing up for state-run Medicare programs. The Congressional Budget Office (CBO) projects there will be 13 million enrollees in health insurance exchanges in 2015.
Practice productivity is an important measure for any type of health care organization or facility. Renal and Urology News points out RVUs (relative value units) have been in use for quite a while as a way to measure productivity. RVUs were created by the Centers for Medicare and Medicaid Services to measure how productive physicians are. An RVU comes from separate metrics like how long an office visit or procedure takes or the skill it requires to perform a service. CMS also takes geographic factors into account when calculating specific RVUs.
Physicians running their own practices may not be trained in running a business, but they need to access those skills all the same. Administrative and financial duties can take away from the amount of time practitioners are able to spend with their patients, which may already be quite small. For this reason, many physicians opt to create an administrative and financial team through partnerships with other businesses. From payroll outsourcing to medical billing and coding, there is a firm to fill almost every need a physician practice can think of. However, finding the right partner - and acting on the right advice - can be difficult for physicians to do without taking some preparatory steps. It's important to remember that not all administrative and financial services companies that market themselves to physicians are created equal, and to seek out the best of the best.
Healthcare providers will find themselves encountering questions and issues from new patients who are insured under the Affordable Care Act (ACA) in 2014. According to Reuters, more than 2 million people have enrolled for coverage through the HealthCare.gov online portal since October 2013. Many of them will have concerns and confusion related to being insured.