Tuesday, January 31, 2017

Medicaid Changes That Could Affect Revenue Cycle Management Services

Medicaid, a jointly-funded Federal-State health insurance program for low-income people, continues to grow in size and importance. It’s now 2017, and there will be some major changes to this system, particularly with the number of people getting accepted into this sought-after program. This ultimately affects your hospital’s revenue cycle, thereby affecting the services and practices you employ in the future.

Medicaid Expansion Continues to Gain Traction

State interest in Medicaid expansion continues to grow. According to research, Medicaid has spiked to over 72 million enrollees since Obamacare and 31 states have expanded their Medicaid programs under the Affordable Care Act. Research links these expansions to coverage gains, reductions in hospital care costs and state budget savings.

These growth trends may also reflect economic downturns. Individuals who lose their jobs have declining incomes, allowing them to qualify and enroll in this program. At the surface, this seems great because they are getting coverage they couldn’t otherwise afford. Unfortunately, this increases Medicaid spending so that ever-growing demands can be met. Read more from this blog: http://bit.ly/2k7pHOH

Monday, January 30, 2017

Obamacare and Underpayments: Turning to Solutions Other than Revenue Cycle Management Companies

Today, Republicans are seeking to repeal – and possibly, replace – Obamacare. This places a great deal of uncertainty on the future of the US healthcare system and more importantly, the future of those who cannot afford health care without financial assistance. As a healthcare facility, these recent events may cause you a lot of anxiety since you want to be able to see and treat as many patients as possible without having your level of underpayments go up.

Impending Obamacare Repeal and Uncertainty

Recently, Republicans have come one step closer to dismantling Obamacare from America’s healthcare system. Currently, Obamacare provides for insurance coverage for children through their parents until they reach the age of 26. At the same time, it also grants a number of premium subsidies for both middle income and low income families. As of the moment, as much as 11.5 million Americans have signed up for Obamacare while millions more have also received medical coverage due to an Obamacare authorized Medicaid expansion. Read more from this blog: http://bit.ly/2k7r8wO

Friday, January 20, 2017

Overlaps in the Affordable Care Act Marketplace Present New Dilemmas

Everyone gets sick at some point, but the sad truth is that not everyone can afford medical treatment. As such, it’s not surprising that many medical bills end up unpaid, exposing healthcare providers to the risk of potential bad debt.

Fortunately, the Affordable Care Act marketplace offers people affordable health plans that can help protect them financially in times of illness. According to ObamacareFacts.org, there are at least 12.7 million people enrolled in the marketplace, which has helped bring the number of uninsured individuals to a historic low. Read more from this blog: http://bit.ly/2iqJF80

Thursday, January 19, 2017

Developments in Disability Social Security Applications for Veterans

As hospitals know only too well, patients with disabilities are some of the toughest cases to handle. Aside from requiring specialized treatments, they also require more frequent visits to monitor progress. Oftentimes, it is veterans who suffer from the most serious disabilities as a result of protecting the country.

Not surprisingly, disability is one of the most expensive medical cases to treat—and has a high probability of becoming potential bad debt. After all, with all the medications and doctor visits required, a disabled veteran will find treatment a great financial burden.

Luckily, such patients can get social security disability benefits to help subsidize the cost of medical care. And recently, The Sequoia Project and the Department of Veterans affairs announced a health IT initiative to make it easier for them to qualify for such benefits. Read more from this blog: http://bit.ly/2imsLUP

Wednesday, January 18, 2017

Eligibility for Medicaid Program and the Joint ACO Model: What to Know

As of 2015, there are at least 73 million people benefitting from the government’s Medicare program, according the Kaiser Family Foundation. As it turns out, it’s not just helping underprivileged citizens get the quality healthcare they deserve, but it’s also helping hospitals protect their bottom line.

Indeed, eligibility services—wherein specialists help patients determine their eligibility for Medicaid benefits—have helped hospitals avoid potential bad debt by helping minimize out-of-pocket costs. Since the Medicare program is subsidizing medical care costs, there is a lower probability that outstanding hospital bills will become debt.Read more from this blog: http://bit.ly/2imyium

Tuesday, January 17, 2017

What is Revenue Cycle Management Amid the Growing Numbers of ACOs?

Being in the healthcare industry is both a civic duty and a business. On one hand, hospitals and similar facilities are entrusted with caring for the population’s health; on the other hand, they need to turn a profit, in order to continue offering their services. Given the high cost of medical care, however, hospitals often succeed in providing the former but struggle with the latter.

In recent years, eligibility services have helped hospitals avoid potential bad debt. Some companies assist patients in enrolling for government programs, such as Medicare, so they can get subsidized healthcare and minimize their out-of-pocket costs—the greatest source of potential medical debt. Read more from this blog: http://bit.ly/2iqFmJZ