The Centers for Medicare & Medicaid Services (CMS) has increased the Medicare payment amount for administering the COVID-19 vaccine. This new and higher payment rate will support important actions taken by providers that are designed to increase the number of vaccines they can furnish each day, including establishing new or growing existing vaccination sites, conducting … [Read more...] about Medicare payment upped for COVID-19 vaccine
Increasing profits
The physician enterprise model: a non-employment alternative
By John W. McDaniel bio Hospitals are seeking new and innovative ways to affiliate with physicians that differ from tactics used in the 1990s, These new relationships involve a more formal type of relationship with physicians, which might reflect lessons learned through previous less‐than‐satisfactory relationships. Most hospitals have physician integration strategies as a … [Read more...] about The physician enterprise model: a non-employment alternative
Retaining patients as insurance landscape shifts
By Kerri Lenderman bio Walmart’s July announcement that they plan to start selling Medicare insurance should have resonated with America’s physicians as more than an interesting headline to interrupt a summer of coronavirus news. Indeed, it should be a wakeup call and a reminder that unsettling and unconventional forces with deep pockets and consumer brand loyalty are forming … [Read more...] about Retaining patients as insurance landscape shifts
Deadline Oct. 5 to ask for MIPS targeted review
If you participated in the Merit-based Incentive Payment System (MIPS) in 2019, your performance feedback, including your MIPS final score and payment adjustment factor(s), is now available for review on the Quality Payment Program website. This final score determines the payment adjustment you will receive in 2021, with a positive, negative, or neutral payment adjustment … [Read more...] about Deadline Oct. 5 to ask for MIPS targeted review
Life science companies and healthcare providers partnering for value-based patient care
By Mal Milburn bio In the era of value-based reimbursement, healthcare professionals are constantly evaluating strategies to improve patient care while simultaneously decreasing overhead costs. Increasingly, medical practices turning to life science reps as a critical part of the answer. According to recent research from DRG Digital Manhattan Research, 74% of … [Read more...] about Life science companies and healthcare providers partnering for value-based patient care
Five ways to boost practice efficiency on a shoestring budget
By Karen Mattocks bio It is every manager’s mantra: ‘Do more with the same number of staff.’ Translation? See more patients. Submit more claims. Generate more revenue—all while providing high-quality, low-cost care. How do successful managers accomplish this? They remove the organizational-level barriers that drain productivity, says Michael Mankins, co-author of Time, Talent, … [Read more...] about Five ways to boost practice efficiency on a shoestring budget
7 free or low-cost ways to increase practice efficiency
By Jeremy Gilman bio It is a question practice managers ask themselves daily: ‘How can I accomplish more tasks using the same—or even fewer—resources?’ Times are tough. For many providers, increased access to healthcare care under the Affordable Care Act has translated to increased patient volume, and not every practice is equipped to handle the demands. Couple this with … [Read more...] about 7 free or low-cost ways to increase practice efficiency
5 ways to break down bureaucracies to get payer contracts
By Steve Selbst bio It is important to remember that payers are large companies, with protocols, policies and business practices. As with any large company, there are bureaucracies, and they are necessary to maintain the order and success of these organizations. Therefore, the first tip is to understand that to get contracted you need to identify the right department and … [Read more...] about 5 ways to break down bureaucracies to get payer contracts
How to assess the overall health of your medical practice
By Nick Hernandez bio How do you know that your overall business is healthy? How do you know that the business processes you perform are working properly? Now, how would others in your practice know? Metrics are important for a number of reasons. For starters, if you don't know how well you are doing, how do you know what to keep doing and what to change? Words without … [Read more...] about How to assess the overall health of your medical practice
5 purchasing tips that can save money for your medical practice
Cutting purchasing costs doesn't have to be difficult. Here are five approaches to purchasing your medical practice should consider. 1 Join other offices and take advantage of group discounts. Because the group represents a lot of business, it can tell a vendor it will use it exclusively in exchange for an overall, sizeable discount. The group can also get individual … [Read more...] about 5 purchasing tips that can save money for your medical practice