Regent RCM

Regent Industry New Wrap-Up December

Each month Regent RCM explores top news and headlines affecting the health care industry.

This month in the news: Industry experts anticipate that claim denials will continue to be a challenge in 2016 and Health care providers continue to make the ongoing transition to ICD-10.

5 Claim Denials Management Conversations From 2015

Claim denials seemed to be at the forefront of health care industry news this year as many key claim denial lessons unfolded, especially as ICD-10 implementation came and went.

Click here to discover the five main topics related to claim denials management.

Regent RCM, recognizes how claim denials can impact the RCM pipeline. In a recent blog post, Regent RCM Vice President of Revenue Cycle, Michael Orseno, shared best practices including lessons that he and the Regent RCM team have learned about how to work, track and ultimately avoid claim denials.

80% of Health Care Providers Report Successful ICD-10 Transition

The majority of health care providers have successfully transitioned to the ICD-10 coding system. While this is encouraging news, there are still a number of organizations that are struggling to effectively operate in an ICD-10 environment.

As cited in a recent Revenue Cycle Insights article, the challenges related to ICD-10 “include rejected medical claims, clinical documentation and physician education, reduced revenue from coding delays and information technology fixes.” Click here to read the full article.

If your center is struggling with the ICD-10 transition, Regent RCM recommends four ICD-10 coding tips, found here.

Regent RCM

Regent RCM Health Care Industry News | September 2015

Each month Regent RCM explores the top news and headlines affecting the health care industry. 

This month in the news: The implementation of ICD-10 is less than 10 days away, Medicare transitions into a bundled payment model, and there is expected healthy job growth for those interested in a medical coding career.

Implementation of ICD-10

On October 1, Medicare will reject all claims that do not contain coding that complies with the 10th revision of the International Statistical Classification of Diseases and Related Health Problems (IDC-10). ICD-10 is an important and vital change in the health care industry. Have you completed the recommended 8 Steps your ASC must take to prepare for the ICD-10 launch in two weeks? We debunked some common myths surrounding the updated coding system, and if you haven’t already, now is the time to focus on ensuring that your ASC is completely ready for the transition. Click here for more resources to prepare for ICD-10.

Addressing Bundled Payment Cost Reduction Challenges

As part of the Affordable Care Act (ACA), Medicare will transition into a bundled payment model for hip and knee replacements. With the upcoming bundled payment testing, hospitals and revenue cycle management companies must connect the distance between the initial investment and an uncertain return on investment. Knowing the cost benefit ratios in revenue cycle management is key to avoiding bundled payment cost reduction challenges, as many people believe bundled payments are the way of the future. Read more on the challenges of bundled payment cost reductions or with probable challenges approaching, learn how outsourcing RCM can be more cost effective.

Job Growth for Medical Coders

October 1 is a huge marker in the health care industry as it is the deadline for health care companies to upgrade to a new coding system and this change should result in good news for those interested in the health care industry. The new coding system implementation will create more jobs for those interested in becoming a medical coder, which does not require a college diploma, with the right training. It is expected to grow by 22 percent by 2022, which is a higher rate compared to other occupations and industries. Click here to read more on the job growth.