Charity Care or Bad Debt?

SO, what is it... 
Charity Care or Bad Debt?

I attend HFMA and AAHAM events ALL the time. One particular presentation I’ve seen quite a few times has stuck out to me because my company does both large and small self-pay receivable collections (patient responsibility after insurance) and bad debt collections. The woman who does the presentation is a friend of mine from a hospital in Philadelphia. She always does SO great at this presentation, I took notes and decided to make a spin-off to her presentation to share with those of you unable to get the chance to hear her speak.

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Topics: ICD-10 compliance, Charity Care, Bad Debt

3 Reasons Hospital CFOs Must Rely on Revenue Cycle Solutions in 2015

It’s Been a Crazy Year

The thought of reimbursement reductions coupled with the threat of ICD-10 preparedness (or lack thereof) in 2015 has created a healthcare environment that leaves much to be desired. At this point in Q4 you’ve been trying, maybe even agonizing, all year to reduce expenses, increase patient retention and maximize your patient and payer collections- all without compromising quality of care. Ring a bell?

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Topics: ICD-10, ICD-10 compliance

ICD-10 Postponement (again). Now What?

With ICD-10 being postponed again, you may be left with some very important questions. It's best to start at the beginning by understanding what ICD-10 actually is, how it works, and the best ways to implement this program - with or without delay. Understand how to convert to ICD-10 no matter when the deadline may be, and how this can help your billing and business.

ICD-10 Basics

ICD-10 is a diagnostic coding system used to classify medical diagnosis and procedures around the world - just not in the United States. The US uses ICD-9-CM. The difference between these two coding systems is essentially variety. The new system has 69,000 classifications, while the old system has 13,600 codes. Why so many more codes? Simply put, technology. New technological advances in diagnosis and treatment have left many procedures without an accurate description. Switching to the new coding system means that health information can be both billed and tracked more accurately, and data is easier to share across the World Health Organization networks.

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Topics: ICD-10, ICD-10 compliance

ICD-10 Can Cost You Your Bottom Line…Here’s How

Ugh! Remember when October 1, 2014 seemed so far off into the future? The reality is, the ICD-10 official deadline is actually now looming. You can’t afford to screw up – literally – because your bottom line is at stake.

Don’t believe it? ICD-10 is transforming how you do business, whether you’re a sole practitioner or a major hospital. It’s an infection that will certainly spread from your clinical procedures to across-the-board operations and even your organizational structure, all of which affect your financial well-being.

ICD-10 will directly affect your revenue.

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Topics: ICD-10, ICD-10 compliance

Top 10 Motivators to Prepare for ICD-10... NOW!

Incase you live under a rock and don't know what ICD-10 is, well... it's the abbreviation for the 10th version of The International Classification of Disease - a universal system of coding (first created in 1983 and completed in 1992) used by physicians and other healthcare providers to classify and code all diseases, diagnoses, symptoms, abnormal findings, procedures, and external causes of injury recorded in conjunction with hospital care in the United States.

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Topics: ICD-10, ICD-10 compliance, reasons to prepare, coding, Training