501r, IRS, ICD 10 and RCM challenges everywhere...now what?

It just ain't gettin' any easier is it?

Over the past few years, we’ve seen the Affordable Care Act receive much scrutiny and attention for its individual and employer mandate requirements. With the ACA presenting so many details and implications to understand and address, the Internal Revenue Service’s proposed 501(r) might have seemed buried under a heap of your other patient accounting and revenue cycle priorities.  But the new code addendum has the potential to significantly impact tax-exempt hospitals’ ability to bill and collect payment if not properly addressed.  In the midst of ICD-10’s certain implementation later this year and the insurance denial complexities it almost promises to deliver, you’re likely looking to avoid any additional delayed or forgone bill payments, right? Getting familiar with the new requirements and taking action to prepare is crucial to minimizing any negative consequences. 

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Topics: Compliance, ICD-10, Charity Care, Healthcare Reform

3 Impacts of High Deductible Plans on Your Revenue Cycle (and 5 Ways to Fix It)

A high deductible plan means the patient is paying more out of pocket expense for health care services. It is a health insurance plan with a high deductible and normally has a lower premium.  People pick high deductible plans because the out of pocket premiums are lower and fit into a tight budget more easily.  Employers like high deductible plans as a way to save money on health care coverage for employees.  However, high deductible plans can have an impact on health care facilities or on a hospital’s revenue cycle.  The impact is not always in a favorable manner.

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Topics: Healthcare Reform, healthcare receivable management, Revenue Cycle Management, Patient Deductibles, HSA

Impact of Healthcare Reform on Hopsitals

Healthcare reform impacts

On March 23, 2010, the President signed into law what is known as Patient Protection as well as Affordable Care Act of 2010. In addition the Health Care and Education Reconciliation Act was signed into law a week later on March 30th 2010. Both acts are referred to collectively as “PPACA”. Although most of these legislative changes are not going to take effect until 2014 or even much later, a number of provisions are self-implementing and as a matter of fact took effect immediately.

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Topics: Hospitals, ACA, PPACA, patient protection, affordable care act, debate, congress, Healthcare Reform