Healthcare Payments
Former Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #6. ICD-10 is a diagnostic coding system implemented by the World Health Organization (WHO) in 1993 to replace ICD-9, which was developed by WHO in the 1970s. ICD-10 is in almost every country in the world, except the United States. When we hear “ICD-10” in the United States, it usually refers to the U.S. clinical modification of ICD-10: ICD-10-CM. This code set is scheduled to replace ICD-9-CM, our current U.S. diagnostic code set, on October 1, 2014.
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #3. In this interview, Gov. Thompson talks about the impact of Accountable Care Organization (ACOs). ACOs are groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated high quality care to their Medicare patients.
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #2. In this interview, Gov. Thompson talks about the operational impact of the Affordable Care Act (ACA) as well as the overall direction of patient care.
Read MoreIn the first Q&A interview, Gov. Thompson talks about the state of the healthcare industry, summarizing what’s right and what’s wrong. Relating to the changes required with the Affordable Care Act (ACA), many of the rules and regulations are assembled by administrators and bureaucrats of HHS.
Read MoreHealthcare providers are now outsourcing more of their revenue cycle functions. Large banks saw this medical banking potential several years ago and moved quickly to offer added-value services such as EOB conversion and treasury management capabilities specifically for this niche.
Read MoreThe Affordable Care Act (ACA), aka Obamacare, is unlikely to bring together Republicans and Democrats. But ACA is bringing innovation to healthcare payments arena. Standards within the law make it easier to reconcile electronic funds transfer (EFT) payments, most commonly Automated Clearing House (ACH) transactions, received by providers with the corresponding electronic remittance advice (ERAs), including EDI 835 or EOBs.
Read MoreA recent Gartner report highlighted “5 Cloud Trends in 2013 and Beyond”. Have you ever heard of how cloud computing aims to create “Webscale” systems, which are large configurations that have this ability to expand and contract as needed? They can be configured quickly, and yet go away quickly too. No longer are “large scale projects” a problem in a cloud hosted environment. A good example in healthcare payments would be a project to convert a large back-log of explanation of benefits forms. In this project, a large virtual cloud could be created with high capacity for a few days…then it goes away.
Read MoreYou’re a healthcare payments professional and by now, you probably have an opinion on the topic of reassociation. You’ve seen the Orbograph white paper, How to Reassociate EFT/ACH Payments to ERAs in 2014, and see why the industry needs to make a move in this area. If you haven’t read it, now’s your chance! Or check out http://www.caqh.org/. There’s only 161 days left to prepare for implementation deadline for federally-mandated CAQH CORE EFT and ERA Operating Rules…
Read MoreWorking with a financial institution for healthcare payment processing via a medical lockbox is an excellent method to eliminate inefficient in-house manual processes for healthcare providers. Providers can typically reduce overhead, improve collections in receivables, decrease bad debt/write-offs, reduce fraud and eliminate paper in the office. While the benefits can be impressive, selecting the right vendor can often be a confusing task.
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