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Seeking Possible Solution to Intensifying Medical Billing Documentation

Seeking Possible Solution to Intensifying Medical Billing Documentation

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Published by Jacob Thomas
“Beset with spiraling Medicare expenditure amidst a rather volatile economy, the Federal Government policy of linking physician reimbursement to quality outcomes will not only test physicians’ level of quality medical care, but also how they are going to document patient encounters. Therefore, physicians, required to furnish evidence-based healthcare documenting & reporting, will find hard to manage within the limited time and resources”.
“Beset with spiraling Medicare expenditure amidst a rather volatile economy, the Federal Government policy of linking physician reimbursement to quality outcomes will not only test physicians’ level of quality medical care, but also how they are going to document patient encounters. Therefore, physicians, required to furnish evidence-based healthcare documenting & reporting, will find hard to manage within the limited time and resources”.

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Published by: Jacob Thomas on Feb 03, 2012
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05/13/2014

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www.medicalbillersandcoders.com
 
Seeking Possible Solution to Intensifying Medical Billing Documentation
 ³Beset with spiraling Medicare expenditure amidst a rather volatile economy, the FederalGovernment policy of linking physician reimbursement to quality outcomes will not only testphysicians¶ level of quality medical care, but also how they are going to document patientencounters. Therefore, physicians, required to furnish evidence-based healthcaredocumenting & reporting, will find hard to manage within the limited time and resources´.Amidst healthcare reforms (both federal as well as provincial healthcare quality initiatives) ±linking physician reimbursements to quality outcomes, making Electronic Health Recordingmandatory for availing incentives under ARRA, the possible compliance to MedicareMedicalBillingnorms, the documentation demand under Medicare¶sAccountable Care Organization  (ACO) model, and the last but not the least, the imminent ICD-10 and HIPAA 5010transition ± healthcare documenting is never going to be the same. While these healthcarereforms are objectively promulgated for ushering in clinical and operational efficiency, thelevel of transformation those physician offices need to cope up with can severely come inthe way of the core-focus of medical services.Beset with spiraling Medicare expenditure amidst a rather volatile economy, the FederalGovernment policy of linking physician reimbursement to quality outcomes will not only testphysicians¶ level of quality medical care, but also how they are going to document patientencounters. Therefore, physicians, required to furnish evidence-based reporting, will findhard to manage within the limited time and resources.As Electronic Health Recording becomes mandatory, physicians may not be able to affordheavy capital investments associated with installing the requisite technology. But, as theEHR carries clinical and operational consequences ± incentives for meeting and surpassingthe benchmark as well as penalty for compliance ± physicians will invariably have tooutsource their EHR capability. Even then, amidst numerous service providers, their decisionto decide upon competent provider will become crucial.Further, Medicare, being revamped radically, physicians¶ documentation for medical billingreimbursement is likely to be more detailed and exhaustive, resulting in complex medicalbilling procedures that can only be managed by competent medical billing houses.Invariably, physicians will have to allocate overheads for advisory from such medical billinghouses. Although, the initial expenditure might seem high, yet, the associated returns willeventually outweigh the expenditure.Above all, the imminentICD-10 transitionlooming large, physicians¶ medical coding is in fora major overhaul, prompting allocation of resources and time on an unprecedented scale.But, with internal competencies likely to fall short of the requisite ICD-10 benchmark, yetagain, outsourcing could become a possible recourse, prompting judicious selection of competent service provider.

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