Each month Regent RCM explores the top news and headlines affecting the health care industry.
This month in the news: ICD-10 has had a smooth rollout thus far, surgery centers are pressured to reduce their costs while maintaining quality of care, reimbursement rates for hospital outpatient departments are rising faster than ASCs, and consumers demand more transparency on price and quality of services.
ICD-10 Transition Smoother than Expected
Contrary to reports that 25% of physician practices weren’t ready for the October 1, 2015 transition to the new ICD-10 code set, Forbes reports that the rollout has been smooth thus far. Sid Herbert, head of the ICD-10 implementation team at Humana (HUM) echoed that finding by stating, “We are about ten days into this and already have 50% of our claims coming in. Almost everyone who is submitting claims is getting it right.” In an effort to support industry partners and continue the seamless transition, Regent RCM coding partner, Surgical Notes, MDP, LP, provides helpful ICD-10 coding tips, found here.
Surgery Centers Pressured To Reduce Costs and Maintain Quality
No health care provider is immune to the pressure to lower the cost of delivery while maintaining quality. Click here to read how Carolina Neurosurgery and Spine Associates make a case for the ability of surgery centers to deliver cost savings while upholding quality, safety and ultimately, patient satisfaction.
Outsourcing RCM frees up clinical and front-office staff to focus on quality of care and center functions that can increase patient and surgeon satisfaction. If you are exploring RCM options, click here to speak with a member of the Regent RCM team.
Reimbursement for ASCs vs. Hospital Outpatient Departments
Fierce Health Finance recently reported that reimbursement rates for hospital outpatient departments are rising faster than rates for ambulatory surgical centers (ASCs). Click here to read more and join our ongoing conversation via Twitter @RegentRCM.
Consumers Demand More Transparency and Push for Better Data
As reported by Crain’s Detroit Business, “The movement to high-deductible health insurance plans — designed to control costs and put more decision-making in the hands of patients — has saved employers billions of dollars, but it has also put pressure on the health care industry to become more transparent on the price and quality of its services.”
Automated RCM allows ASCs to tailor billing to include relevant, customized details to overcome patient satisfaction barriers and ensure that your ASC delivers the level of transparency that your center needs and your patients expect. Contact Regent RCM to learn more.