As laboratory services are one of the highest revenue-producing departments in most health systems, it’s incredibly important to bill these services correctly. However, it’s also an area fraught with lots of guidelines and restrictions—and with many staff members throughout the hospital system working laboratory accounts, there is a high risk of errors and inconsistencies. This is a situation we’ve seen and helped correct in health systems nationwide.
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https://insights.panaceainc.com/wp-content/uploads/2019/09/scientist-working-on-computer-in-modern-laboratory-picture-id1090255620.jpg400566Panacea Insightshttps://insights.panaceainc.com/wp-content/uploads/2021/08/PanaceaLogo_FullColor_Print.pngPanacea Insights2021-09-19 08:49:152022-02-17 12:59:18Is Your Staff Struggling with How to Bill Lab Services? 4 Steps to Better Results
Following the recent unveiling by federal officials of the 2021 Outpatient Prospective Payment System (OPPS) Final Rule, Panacea Healthcare Solutions has created a comprehensive Final Rule Summary highlighting some of […]
Our revenue integrity team continually monitors announcements by the Centers for Medicare & Medicaid Services (CMS) and the American Medical Association (AMA) to bring you the most current and up-to-date […]
Over the last several months we’ve seen an uptick in requests from clients nationwide for help reconciling laboratory orderables to chargemasters. In case you’re in this same boat, we wanted […]
https://insights.panaceainc.com/wp-content/uploads/2019/10/medicine-doctor-with-stethoscope-using-tablet-and-medical-icon-on-picture-id1023232666-1.jpg479566Panacea Insightshttps://insights.panaceainc.com/wp-content/uploads/2021/08/PanaceaLogo_FullColor_Print.pngPanacea Insights2020-07-26 11:06:142022-02-15 14:52:17Are You Reconciling Your Laboratory Orderables to Your Chargemaster? A How-To in 4 Steps
With the CMS Final Rule published there is a flurry of activity across the industry to come up to speed on the changes. In our experience though we’ve found that for many healthcare systems it’s easier to keep track of changes to the codes, rules, and guidelines they are already using; the challenge comes in becoming aware of and implementing when new things are introduced.
To view this content you need to subscribe to Panacea Insights. You'll get updates on new posts, become a influencer in our community and get invited to special webinars.
On January 1, 2019 the Hospital Price Transparency Rule took effect mandating hospitals publish their price lists online in a machine-readable format. Hospitals complied by making their charge description master (CDM) available via download in CSV or similar format. The result fell far short of CMS’ goal of empowering patients to become “active healthcare consumers” and the agency on July 29, 2019, in response to the Trump administration Executive Order on Price and Quality Transparency, proposed expanded rules aimed at more “consumer friendly” transparency.
To view this content you need to subscribe to Panacea Insights. You'll get updates on new posts, become a influencer in our community and get invited to special webinars.
We’ve summarized the Centers for Medicare and Medicaid Services (CMS) and American Medical Association (AMA) payment and coding updates being implemented October 1, 2019. The updates should be reviewed for possible implementation in your hospital chargemaster and/or reviewed by applicable coding and billing staff.
To view this content you need to subscribe to Panacea Insights. You'll get updates on new posts, become a influencer in our community and get invited to special webinars.
https://insights.panaceainc.com/wp-content/uploads/2019/03/business-woman-working-in-corporate-office-picture-id518847296.jpg400566Panacea Insightshttps://insights.panaceainc.com/wp-content/uploads/2021/08/PanaceaLogo_FullColor_Print.pngPanacea Insights2019-09-24 10:04:142021-03-18 13:52:07Summary of the Centers for Medicare and Medicaid Services (CMS) and the American Medical Association (AMA) payment and coding updates for Q4′ 2019
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.
To view this content you need to subscribe to Panacea Insights. You'll get updates on new posts, become a influencer in our community and get invited to special webinars.
Is Your Staff Struggling with How to Bill Lab Services? 4 Steps to Better Results
/in Featured, Revenue Integrity /by Panacea InsightsAs laboratory services are one of the highest revenue-producing departments in most health systems, it’s incredibly important to bill these services correctly. However, it’s also an area fraught with lots of guidelines and restrictions—and with many staff members throughout the hospital system working laboratory accounts, there is a high risk of errors and inconsistencies. This is a situation we’ve seen and helped correct in health systems nationwide.
Panacea Unveils Comprehensive Summary of 2021 OPPS Final Rule
/in Expert Opinions, Revenue Integrity /by Panacea InsightsFollowing the recent unveiling by federal officials of the 2021 Outpatient Prospective Payment System (OPPS) Final Rule, Panacea Healthcare Solutions has created a comprehensive Final Rule Summary highlighting some of […]
CMS and AMA Fourth Quarter 2020 Coding Updates: Panacea Summary and Recommendations
/in Revenue Integrity /by Panacea InsightsOur revenue integrity team continually monitors announcements by the Centers for Medicare & Medicaid Services (CMS) and the American Medical Association (AMA) to bring you the most current and up-to-date […]
How to Rationalize Chargemaster Prices
/in Featured, Revenue Integrity /by Panacea InsightsHave you ever wondered how hospital prices became so irrational? As is often the case, things changed incrementally. Hospitals and healthcare systems…
Are You Reconciling Your Laboratory Orderables to Your Chargemaster? A How-To in 4 Steps
/in Featured, Revenue Integrity /by Panacea InsightsOver the last several months we’ve seen an uptick in requests from clients nationwide for help reconciling laboratory orderables to chargemasters. In case you’re in this same boat, we wanted […]
Coding and Reimbursement Highlights for 2020 IPPS, MPFS & OPPS
/in Revenue Integrity /by Panacea InsightsWith the CMS Final Rule published there is a flurry of activity across the industry to come up to speed on the changes. In our experience though we’ve found that for many healthcare systems it’s easier to keep track of changes to the codes, rules, and guidelines they are already using; the challenge comes in becoming aware of and implementing when new things are introduced.
Unpacking CMS’ 2020 Proposed Expanded Rules for Hospital Price Transparency
/in Revenue Integrity /by Panacea InsightsOn January 1, 2019 the Hospital Price Transparency Rule took effect mandating hospitals publish their price lists online in a machine-readable format. Hospitals complied by making their charge description master (CDM) available via download in CSV or similar format. The result fell far short of CMS’ goal of empowering patients to become “active healthcare consumers” and the agency on July 29, 2019, in response to the Trump administration Executive Order on Price and Quality Transparency, proposed expanded rules aimed at more “consumer friendly” transparency.
Summary of the Centers for Medicare and Medicaid Services (CMS) and the American Medical Association (AMA) payment and coding updates for Q4′ 2019
/in Revenue Integrity /by Panacea InsightsWe’ve summarized the Centers for Medicare and Medicaid Services (CMS) and American Medical Association (AMA) payment and coding updates being implemented October 1, 2019. The updates should be reviewed for possible implementation in your hospital chargemaster and/or reviewed by applicable coding and billing staff.
It’s a Fact: Revenue Integrity Programs Increase Net Revenue
/in Revenue Integrity /by Panacea InsightsIs 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.
Panacea Announces Enhanced Pharmacy Revenue Improvement Solution
/in Revenue Integrity /by Panacea InsightsPanacea announces enhanced Pharmacy Revenue Improvement solution, which combines expert consultants…