Monday, November 23, 2015

Affordable Care Act Marketplace: Qualifying for Premium Tax Credits

The sum of your modified adjusted gross income to that of every family member for whom you can claim a personal exemption deduction, and is also required to file federal income tax return, is your premium tax credit. Modified adjusted gross income (MAGI) is your adjusted gross income plus excluded items like foreign income, student-loan deductions, nontaxable Social Security benefits (excluding SSI), etc. accrued or received during the taxable year.Each level of the FPL is entitled to a different tax credit amount. You may consult with marketplace navigators from companies like DECO to determine the amount of premium tax credits, along with new health insurance marketplace coverage options you may be eligible for.

Sunday, November 22, 2015

Helping an Abused Child? Disability Social Security as Restitution

Every child is entitled to be raised in a loving and caring environment. Sadly, for some 750,000 children in the U.S. who are victims of abuse, the picture of a healthy childhood, without due intervention and restitution, is beyond reach. Child abuse chooses no status, religion or culture, and it’s inflicted in varying degrees. From calling the child derogatory names, threats of abandonment, neglecting medical care, to physical battery and sexual assault, child abuse can leave severe and long-term damage to a child to the point of disability.

Saturday, November 21, 2015

Determination of Eligibility for Medicaid Is Complex Yet Important

Medicaid is among the healthcare coverage options provided by the U.S. government. The coverage can help both patients and hospitals.Healthcare.govindicates that Medicaid provides low-cost or free healthcare for low-income people and families, which is applicable to all states.How Eligibility Can Become ComplexThe definition might seem simple enough but the complexity lies in what is considered “low-income”. It is quite subjective since anyone who experiences difficulties in everyday expenses may feel that his/her income is low. In the case of Medicaid, the regulating entities use a definitive basis, which is the Federal Poverty Level (FPL) – a value calculated and updated every year by the Census Bureau.

Friday, November 20, 2015

Uncompensated Care and How Revenue Cycle Management Services Help

What is revenue cycle management assistance good for in medical practice? The main function of this is to maximize revenue by reducing cases of uncompensated care – a combination of charity care and potential bad debt. Accumulating uncompensated care is a huge concern across the healthcare industry. This cripples the ability of hospitals to manage expenses as it takes away profits that would have otherwise been used for hospital needs, such as equipment, medications, and other supplies. As a result, they have a hard time providing efficient care, creating a ripple effect from the immediate community to the nation as a whole.

Monday, November 9, 2015

Understanding the Revenue Cycle from A Billing Perspective

In the past, the idea of revenue cycle can raise eyebrows and strange looks from doctors and hospitals administrators. After all, why would there be a need for a management system when there is already the billing section and the revenue section? Today, however, it’s a different story what with RCM being a tool that allows company to ensure timely payment and increased revenue from patients and third-parties.

How Your RCM can Help Ease Life for the Disabled

Living with disability is living a life full of obstacles. A disability, in the broadest sense, is a condition that impairs the ability of an individual. People living with disabilities are susceptible to experiencing more hardships, in the form of physical, mental, or social barriers, sometimes all at once.

Wednesday, November 4, 2015

Understanding the Importance of Revenue Cycle Management

Simply put, Revenue Cycle Management allows hospitals and other medical establishments to ensure the timely collection of payment from individuals and insurance providers. In order for this to happen, RCM makes use of a number of tools in the form of software applications in order to retrieve and analyze data as well as check for eligibility for medicaid and other coverages.

Understanding the Basics of RCM

While most people see Revenue Cycle Management as simply the billing and filing the claims of patient, that is not actually the whole picture. True, the whole revenue cycle management starts as soon as the patient steps inside a hospital or clinic.