Since the October 1, 2015 commencement of I-10, both case mix index trends and CC/MCC capture rates nationwide have improved by 2.8% and 0.8% respectively.Years of coding and documentation training to address the tenfold increase in available codes and the need for improved specificity and documentation under I-10 appears to be paying off overall.
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Entries by Panacea Insights
The CMS 2019 transparency requirement underscores their ongoing initiative and emphasis on empowering patients through better access to hospital charge information.
In October, Panacea sponsored an HFMA educational webinar on Developing a Pricing Strategy for the CMS 2019 Transparency Requriement. The one-hour webinar was hosted by the Healthcare Financial Management Association (HFMA) and featured Panacea financial executives, Fred Stodolak, Executive Vice President and Mark Spehar, Senior VP Financial Services as presenters.
Hospitals have just a few months to ensure their prices are rational and defensible to meet the January 1, 2019 deadline. St. Paul, MN—August, 2018—Panacea, a leading provider of mid-revenue cycle management, innovative software and enterprise-level educational solutions announced today that despite industry push-back during the comment period, the CMS Final Rule requires hospitals to […]
The push for health care price transparency is nothing new and can be traced back almost 20 years. When CMS released their proposed 2019 Inpatient Prospective Payment System (IPPS) rules including “requirements for hospitals to make public, a list of their standard charges via the internet”, it further underscored CMS’ continued effort for hospitals and health systems to provide price transparency.
A large, multi-specialty practice with more than 1,000 physicians and allied health professionals has been able to achieve significant efficiencies by consolidating a number of core administrative activities, particularly billing, reimbursement, and other financial operations.
Is your revenue integrity program performing at full capacity?
Perhaps more important, do you have a revenue integrity program (or department) at all?
A survey conducted by the Healthcare Financial Management Association (HFMA) reports that less than half (44%) of providers contacted have a revenue integrity department to track accurate coding and charge capture, establish reasonable pricing for services, ensure legal and regulatory compliance, and develop effective financial reporting. Yet those that have established revenue integrity programs have realized an overall increase in net revenue.
Written By: Fred Stodolak, Executive Vice President, Mark Spehar, Senior Vice President, Financial Services, Henry Gutierrez, Vice President, Financial Services
There is an increasing debate surrounding CMS FY2019 IPPS proposed rule, published April 24, that would require hospitals “to make public a list of their standard charges via the internet.” Discussions around this topic have pointed out a number of valid arguments:
The University of Utah has taken a unique approach to CDI. They have determined that standards and auditing are critical components of the CDI process. But how does a facility begin auditing queries? And what constitutes a compliant query?
May 23, 2018—Panacea, a Career Step company and leading provider of revenue cycle management, smart software and enterprise-level educational solutions, is pleased to announce that after a rigorous review, the Healthcare Financial Management Association (HFMA) has awarded Panacea’s CDMauditor® Hospital Zero-Base Pricing® its “Peer Reviewed by HFMA” designation. Panacea’s Comparative Hospital Data™, Unit Cost Estimator, […]