I was asked to co-present for a Medical Group Management Association (MGMA) certification course on the topic of Financial Management in Healthcare. The session used to be two days, apparently had been reduced to one. Explaining financial concepts is a pretty dry subject – condensing it into a time slot required for the webinar takes [...]
Are you aware how much time your practice spends obtaining prior authorizations for a patient’s care? Are you aware of the clinical knowledge one must know or have documentation for in order to obtain a prior authorization? I have a client that told me he had a nurse consistently sitting on hold with a particular [...]
Premiums, co-pays, co-insurance, deductibles, out of pocket maximums, non-covered services…who really is in charge of your healthcare decisions? Is a provider in-network, out-of-network? Does a patient have control over which lab or radiology provider to choose? Does the patient know whether those providers are in network or out of network? Do your patients know the [...]
This past week I was a sponsor at the IMGMA (Iowa Medical Group Management Association) conference held in Cedar Rapids, IA. My business, FinanSynergy, my vision is to be Iowa’s Premier Health Care Experts. At dinner, the very first night I was thrown a curve ball by someone who has long been in medical administration. [...]
Effect on Patients and Businesses The American Health Care Act rolls back individual requirements to carry health insurance. Two provisions of the AHCA would be retroactive to December 31, 2015 include: Individuals would not be penalized for being uninsured The Act would eliminate the employer mandate to provide coverage without a financial penalty Other provisions [...]
The Merriam-Webster dictionary defines commodity as “something useful or valued.” In healthcare, coding is the most important yet silent commodity in the revenue cycle. With over 68,000 medical diagnosis codes available through ICD-10 and over 87,000 procedures codes for providers to comb through, coding specialists are essential to get paid. Though electronic health records were [...]
