Payers denying healthcare insurance claims is something we all are very familiar with. Whether the claims are denied for missing information, incorrect medical coding, or anything in between, 9% of claims are initially denied, on average. The national pandemic has caused its fair share of additional denials. New Jersey Hospital Read more…
Medical group and health system executives believe it will take at least a full year to recover from the revenue losses due to COVID-19, according to a survey conducted by the American Medical Group Association (AMGA). The survey of 95 executives concluded that 41% of healthcare systems and 36% of Read more…
The financial impact of COVID-19 on hospitals and health systems has caused healthcare executives to rethink the way they handle their hospital’s financials. A recent survey conducted by Black Book found that although all of the healthcare CFOs surveyed acknowledge the inevitable revenue decrease for this fiscal year, only 12% Read more…
There is no doubt COVID-19 has brought uncertainty across all areas of life. From a rising unemployment rate to extended stay-at-home orders, American citizens are wondering how to prepare for the “new normal.” Hospitals and health systems are at the forefront of the combat against this pandemic including instilling a Read more…
Healthcare providers have access to the Department of Health and Human Services (HHS)’s Providers Relief Fund, of approximately $100 billion, through the Coronavirus Aid, Relief, and Economic Security (CARES) Act (PL 116-136). The Providers Relief Fund assists healthcare providers with expenses or COVID-19 related revenue loss. While half of the Read more…
Medical coding is a standardized method to assign alphanumeric codes for medical diagnostics, surgical and external procedures to generate billing for an episode of care. Medical coding professionals translate the medical records and providers’ notes to create a claim to send to insurance carriers as a part of the medical Read more…
First and foremost, I hope you and your loved ones are healthy and safe. With the escalation in number of COVID-19 incidents in the past few weeks, it is our priority to focus on the safety and wellness of our employees, customers and partners. It is clear that COVID-19 does Read more…