The global computer assisted coding (CAC) market is expected to grow at a double-digit CAGR and reach $3.5 Billion by 2019 largely driven by the ICD-10 transition, according to a new research report by MarketsandMarkets. The report finds providers are increasingly turning to CAC solutions to help reduce coding errors, increase coder productivity and offer quality healthcare. This can be attributed to various factors such as rapid growth in the number of healthcare facilities,
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Healthcare Policy Regulation & Reform | News, Analysis, Insights - HIT Consultant
Survey Reveals ICD-10 Costs for Small Physician Practices Significantly Lower
ICD-10 costs for small physician practices are significantly much lower than expected, according to a new study released today by the Professional Association of Health Care Office Management (PAHCOM). The survey of 276 physician practices of fewer than six providers revealed that total ICD-10 transition costs for an entire practice averaged $8,167. Per provider expenditures averaged $3,430 for a practice with a single provider to $1,838 for a practice with six providers. There were
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Summa Health System and Humana Forms ACO in Akron
Summa Health System's accountable care organization (ACO) – NewHealth Collaborative and Humana have formed a new ACO agreement to improve health and more coordinated services for the growing number of Humana Medicare Advantage (MA) members in Akron. The new agreement will include value-based incentives tied to performance improvement and will offer more personalized care and a broad range of population management tools like, predictive analytics and chronic care, disease management
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TMA, Blue Cross Offer Physicians ACO Options to Remain Independent
According to the 2014 TMA Survey of Texas Physicians, approximately two-thirds of Texas physicians work for themselves or in practices that are wholly owned and controlled by other physicians. Most of these independent physicians traditionally have not had access to the tools and resources needed to participate in an ACO.
To help address this, the Texas Medical Association (TMA) and Blue Cross and Blue Shield of Texas (BCBSTX) are partnering on a first-of-its kind joint effort to offer
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The “Cashification” of Healthcare
It’s understandable that so many people automatically assume that health insurance provides a benefit. After all, we’ve been conditioned for so long to think that insurance, through some arrangement with our employer, is actually picking up the tab. If that’s true, why not go with the steak instead of the chicken, and for that matter, why not throw in dessert?
For anyone who thinks we haven’t been acting like perfect healthcare consumers for the last 30 years, you may want a refresher on
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8 Predictions Shaping the Future Healthcare Supply Chain
As the healthcare industry continues to change, organizations are seeking new ways to remove waste, cut costs and improve patient care. Healthcare supply chain provider, Global Healthcare Exchange (GHX) recently spoke with a select group of customers, from large and mid-sized hospitals to some of the biggest suppliers in the world, for their perspectives on how the supply chain will help usher in healthcare transformation and its role in the coming two decades.
Based on those interviews,
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Coalition for ICD-10 to Host Congressional Briefing
The Coalition for ICD-10, a broad-based healthcare industry advocacy group united in support of the ICD-10 coding standard will host a congressional briefing on ICD-10 readiness, featuring the perspectives of leading physicians and the release of a new study of nearly 300 small physician practices on the cost of ICD-10 conversion.
Speakers represent diverse organizations including a small rural physician practice based in Fredericktown, Missouri; Nemours Children’s Health System, a large
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Maimonides Eyes Potential Partnershp with North Shore-LIJ
Maimonides Medical Center, an independent hospital known for their nationally recognized heart and vascular center based in Brooklyn, NY is eyeing a potential partnership with North Shore-LIJ Health Systems, Daily News reports.
The provider announced on Tuesday it has signed a memorandum of understanding to enter into exclusive partnership negotiations with North Shore-LIJ Health Systems, one of the nation’s largest healthcare networks with 19 hospitals in New York City, Long Island,
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Judge Blocks Partners HealthCare Expansion to Prevent Market Dominance
On Thursday, Suffolk Superior Court Judge Janet L. Sanders rejected an agreement for Partners HealthCare to acquire South Shore Hospital in Weymouth and two Hallmark Health System hospitals, in Medford and Melrose, Boston Globe reports. Outlined in a 48-page decision, Sanders found the settlement was to complex for the court to properly enforce and did not provide sufficient protections to keep Partners’ market power in check. According to Sander, the acquisition would “cement Partners’
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5 Key Steps to Reduce Outpatient Coding Denials
Assessing current outpatient coding procedures and creating a plan that aligns HIM, clinical documentation improvement, and revenue cycle will help reduce claim denials and improve the overall financial health of your organization.
Time is money. It’s a well-known phrase that applies to every industry whether you are repairing a broken pipe or scrolling through endless pages of physician dictation to find the specific detail needed for a code. Efficiency is a key component to keeping
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