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ASC Revenue Cycle October Industry News Wrap-Up

Each month Regent Revenue Cycle Management (Regent RCM) explores the top news and headlines affecting the healthcare industry. This month in the news: The new MACRA final rule released by the Centers for Medicare and Medicaid Services (CMS) contains aspects that will impact ASCs; A new editorial weighs the pros and cons of “condiminiumizing” ASCs; Key specialties coming for ASCs next year; And a Deloitte survey reveals that a large number of physicians are still paid under fee-for-service payment model.

MACRA Final Rule Released

On Friday, October 14, 2016, the Centers for Medicare and Medicaid Services (CMS) released its final rule that established the new Medicare payment methodology for physician services furnished under Medicare Part B, known as the Quality Payment Program (QPP). The rule contains many components that will impact ASCs. The QPP was enacted in 2015 as part of the Medicare Access and CHIP Reauthorization Act (MACRA) and has two participation options for physicians: The Merit-based Incentive Payment System (MIPS) and Advanced Alternative Payment Models (APMs). Reporting for the first year of the QPP begins in 2017. Click here to read more.

ASCs: To Be or Not To Be “Condominiumized”

In an editorial, Stephen Sheppard, CPA, COE, reveals the pluses and minuses around the concept of “condominiumizing” ambulatory surgery centers (ASCs). This model involves separating a single physical ASC plant temporally among two distinct legal entities. For example, ASC-A could operate on Monday, Wednesday, and Friday, while ASC-B could operate on Tuesday and Thursday. Sheppard outlines the opportunities and obstacles. Click here to read more.

Key Specialties Coming for ASCs in 2017 

Ambulatory surgery centers are performing higher acuity cases and presenting opportunities for the healthcare system to provide quality care for patients at a lower cost. Paul Eiseman, vice president of business development at Regent Surgical Health, shares insights into specialties that have fared well in the ASC space and what is in store for 2017. Click here to read more.

Deloitte Survey: 86% of Physicians Are Still Paid Under Fee-For-Service Payment Model

Deloitte’s “2016 Survey of U.S. Physicians” survey has revealed that many physicians are reimbursed under a fee-for-service model instead of the value-based system in which providers are paid according to outcomes. Click here to read more.

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ASC Revenue Cycle September Industry News Wrap-Up

Each month Regent Revenue Cycle Management (Regent RCM) explores the top news and headlines affecting the health care industry. This month in the news: A story that describes the benefits that California ASCs gain from bundled payments; In its final rule on emergency preparedness, CMS has set new guidelines for ambulatory surgery centers (ASCs); and ICD-10’s impact on revenue cycle management a year after implementation;

Will the bundled payment model work for ASCs?

Even though bundled care has not been widely adopted in the ambulatory environment with commercially insured or federally insured patients, bundled surgical cases in California yielded positive financial and patient satisfaction results over a five-year span. From 2010 to 2015, over 2,000 commercially insured bundled surgical cases such as total and partial joint replacement and repair, major spine surgery, hysterectomy, thyroidectomy, mastectomy and breast reconstruction, were performed in California ASCs with overnight stay capability administered by Global One Ventures. In these bundled payment cases, 98 percent said they would recommend a bundled payment methodology to friends. Complication rates were low, with a combined rate of subsequent emergency room (ER) visits, infections and readmissions of 0.67 percent in 2015. And financial savings were significant with an average of $7,648 per case. The total cost is 30–60 percent less per bundled case than if the procedure had been performed in the hospital setting. Click here to read more.

CMS Releases Final Rule on Emergency Preparedness

The Centers for Medicare and Medicaid Services published its final rule for emergency preparedness on Sept. 16, which is scheduled to go into effect 60 days after publication. The final rule exempts ASCs from providing information about occupancy. However, ASCs are required to create a process to cooperate with local, regional, state and federal efforts for emergency preparedness in their community. Additionally, the final rule requires ASCs to document efforts to connect with emergency preparedness officials and collaborate in planning efforts when available. Click here to read more.

A Year Later: ICD-10’s Impact on Revenue Cycle Management

Last year, U.S. providers feared falling productivity, increased denials and reduced revenue as they prepared for the inevitable shift from ICD-9 to ICD-10. The new coding system increased diagnostic codes from approximately 14,000 to more than 68,000 and procedure codes from 4,000 to 87,000 with promises to improve quality reporting and outcomes measurement, and streamline reimbursement processes. What has been ICD-10’s influence on billing operations a year after implementation? Click here to read more.

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ASC Revenue Cycle April Industry News Wrap-Up

 

Each month Regent Revenue Cycle Management (RCM) explores the top news and headlines affecting the health care industry. This month in the news: Healthcare jobs and cataract surgeries are on the rise, trends in value-based healthcare include embracing prepayments, and peer review is examined as a valuable tool to boost performance in ASCs.

Healthcare Industry Seeing Increase in Cataract Surgeries

Market Scope data finds that cataract surgeries are on the rise, growing at 3.5% per year, with the majority done in ASCs, according to a recent article published in Healio Ocular Surgery News. Click here to read one physician’s perspective on the current and future outlook for these procedures.

Top Patient Safety Concerns in Healthcare Facilities

An article in Outpatient Surgery Magazine lists the healthcare industry’s top patient safety issues as identified by the ECRI, including patient identification errors and failure to embrace a culture of safety. Click here for the number one safety issue and others included on the annual list.

Practices Focusing on Value-Based Healthcare

A recent article examines six trends in value-based care, including embracing prepayments, taking on a patient-centered approach and emerging healthcare roles that better support patient needs. Click here to read more about these trends and ways to incorporate them in your ASC.

Peer Review an Important Tool for ASCs

Peer review can be an invaluable tool for improving ASC performance, setting internal performance benchmarks, and ensuring standards of care are met. Click here to learn more about the benefits of peer review and the ways in which to utilize it.

Healthcare Jobs on the Rise        

Employment in healthcare is on the rise with no signs of slowing down in 2016, according to a recent article in Becker’s. The article, available here, cites findings from Health eCareer’s “2015 Year over Year Healthcare Jobs Snapshot.”

Interested in working at Regent? Our values-driven culture helps us stay focused on our goal of leveraging our ASC expertise, while providing consistent high-value and high-touch customer service to our clients. Contact us to learn about career opportunities.

 

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ASC Revenue Cycle March Industry News Wrap-Up

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

This month in the news:

Four Ways ASCs Demonstrate Value to Payers

There are four ways in which ASCs can demonstrate value to payers, according to a March 6, 2016, Becker’s article. One of the ways ASCs garner payers’ attention is by demonstrating patient satisfaction data. Click here to learn three other areas to focus on.

Study Deems Outpatient Hip Replacement Surgery Safe

A March 4, 2016 article in Becker’s cites a study which supports that surgeons can perform hip replacements in an outpatient setting both safely and effectively. To learn five key results from the study, click here.

Five Ways to Limit Patient Infections and Improve Safety

Healthcare organizations can improve patient safety and limit infection by practicing five important tips, according to a March 16, 2016 article in Becker’s. Improving communication among team members to limit errors resulting in patient deaths and malpractice costs is essential. Click here for the other four tips.

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Regent Industry News Wrap-Up February

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

This month in the news:

Strategically Partnering with a Hospital

Ambulatory Surgery Centers (ASCs) need to make sure partnership terms with a hospital are beneficial, with a plan in place detailing expectations and goals in mind prior to initiating discussions, advises ASCs Inc. Founder and President Jonathan C. Vick in a February 5, 2016 article published in Becker’s.

Click here to discover Vick’s thoughts on how to cement these partnerships successfully.

A recent Regent RCM blog further addresses this partnership trend, examining probable billing and collections issues resulting from joint ventures between hospitals and ASCs. Can we insert a link to our blog article here please

Becker’s Hospital Review 7th Annual Meeting April 27 – 30, 2016

More than 1,500 hospital and health systems staff from across the country will attend this annual meeting, focused on strategy, health system alignment and growth, physician integration, improving profitability, and ACOs & key specialties. The meeting will feature more than 280 speakers, including 88 hospital CEOs, CFOs and CIOs.

Click here for more information on the conference or to register.

Pros and Cons of Payer Consolidation

The trend toward payer consolidation has been a mixed bag for ASCs thus far. A February 3, 2016 article examining the trend in Becker’s suggests that in some markets the consolidations have led to rate increases while in others less payers translates to lower facility rates.

ASCs that are not strategically partnered with a larger hospital or do not have access to the network with the majority of existing patient populations in the area may be cut off from revenue and also receive limited referrals from other partners and physicians.

Click here for more details on how payer consolidation may impact your ASC.

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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.