The long-anticipated implementation of ICD-10 coding finally began this past Thursday, October 1, 2015. As of that date, government and commercial payors ceased to accept claims under the old coding system (ICD-9). The transition has been five years in the making due to a government delay in 2012. The new system has five times the… Continue Reading
You may have heard some years ago that the Affordable Care Act established a “60-day overpayment rule” that requires a provider to report and return any overpayment from a federal health care program (such as Medicare or Medicaid) within 60 days of “the date on which the overpayment was identified” by the provider (for certain… Continue Reading
Curious what the future of medicine will look like? According to this recent article on CNBC.com, it appears that for many physicians it will involve a boss, a timeclock and a steady paycheck. Not surprisingly, as the legal and administrative burdens of running a private practice continue to increase, more and more seasoned physicians are… Continue Reading
Physician shortage may have a silver lining for physicians who choose to stay in practice: short supply means higher demand and higher demand is likely to mean increased reimbursement.
One of the common struggles I often come across in private medical practices is what to do when a senior physician wants to go part-time. In busy practices, this issue can be emotionally charged and I have even seen it lead to practice breakups. Some practices simply take the position that either you work full-time,… Continue Reading
On Nov. 9, 2007, The Federal Trade Commission (FTC) created the Red Flags Rule requiring creditors to develop and implement written identity theft prevention programs within their organizations. The rule defines a “Creditor” any person who regularly extends, renews, or continues credit; any person who regularly arranges for the extension, renewal or continuation of credit.… Continue Reading