MIPS – Merit-based Incentive Payment System
MIPS is one of the latest developments in Healthcare. As MIPS approaches, The Valletta Group wants to make sure that its clients are fully informed. Below are some key facts about MIPS, including information about its implementation, like qualification and exemption details, as well as important dates and deadlines.
The Alabama legislature recently passed a bill to restore higher reimbursement rates for certain medicaid providers.
The “bump” in Medicaid reimbursement first came about in 2013, as a requirement of the Affordable Care Act. From 2013-2014, the act required states to pay Medicare level reimbursement rates for certain Medicaid services. When the two-year federal mandate ended, Alabama elected to maintain the higher rates indefinitely.
That is, until July 31st of this year, when the Alabama legislature ended the “bump”, citing budgetary restrictions. Fortunately, this cutback lasted only two months, as the legislature recently voted to reinstate the higher rates, effective October 1st.
Providers looking to take advantage of these rates must meet certain qualifications and take appropriate action in order to participate:
One of many recent changes to the healthcare business is the shift in cost-sharing between insurers and patients. Just a few years ago, many physicians were reluctant to spend resources following up on delinquent patient payments. Such payments constituted a very small percentage of physicians’ reimbursement, so physicians didn’t worry much about it.
However, as insurance plans have diversified, costs have shifted and patient bills have grown. And physicians are justifiably more concerned with the timely collection of patient payments. The Valletta Group has procedures in place to address this growing need for physicians in the medical billing industry. Continue reading…
In a consistently evolving medical industry, healthcare providers must stay vigilant in their medical billing cycle. Whether it’s new systems, regulations, or industry standards, any number of things can affect physicians’ operations and finances. If physicians don’t stay attentive and adapt when necessary, the effects can be severe.
But with the many priorities healthcare professionals have, like patient care and CME, physicians often don’t have time to stay up to date on the healthcare and revenue cycle management (RCM) business. And nowadays, medical practice staff often doesn’t have the time or the expertise to do it either. That is why it’s more critical than ever for physicians to hire a medical billing company that will take care of these aspects of the business for them.