Analysis of large data sets in healthcare analytics can unveil an unheard of opportunities. For vendors and developers this brings galore of opportunities as clients would like to reap the benefits without committing heavily on infrastructure expenditure, thus states a Reportstack report. It is believed that globally healthcare and life science market will grow at a compound annual growth rate (CAGR) of 8.60% between
From HER fraud to unveiling of HealthCare.gov, from dynamics of new payment models to ICD-10 progression, it seems an eventful 2014 waits us as far as healthcare is concerned. Here are four issues to watch in the coming year.
1. EHR Fraud
I couldn’t believe when I read that “Electronic Health Records may be doing greats for patient care,
Off late, I have been hearing the name of US president with his care and suddenly triggered me this Joke
“Anybody try to sign up for the Obamacare? It’s impossible, and everybody’s furious. The Republicans are upset about Obamacare because something they tried to stop now won’t
For everybody in the healthcare community from the providers, hospitals, health systems, exchanges, payers and technology experts the need of the hour is analytics. Data is generated in numerous steps and processes in the revenue cycle arena,
A whopping 93 percent respondents of a survey felt that insurance claims process improvement is a top priority to lower operational costs. This is followed by staff training, software implementation and staff reorganization.
The study conducted by Trillium Software aggregated information from approximately 30 insurance claims executives, managers and
Every year, a colossal $350 million is spent to submit and process claims in the healthcare industry, stated a Dell report. No wonder, the number is only going to up and further up in the future. Equally disheartening to see how
Universally, correct data or collections of information are single version of the much desired truth. By gaining accurate information, clients achieve extraordinary outcomes from outsourced data entry services. A smarter decision can take off based on correct information capture and customized solutions. In this extremely competitive business world, highly accurate and most up to date data are imperatives organizations can’t
Medical billing outsourcing services are no longer a novel approach. Outsourcing is now as mainstream as you can get. It typically produces greater cost savings and outcomes following its streamlined processes, superior systems, state of the art technologies, economies of scale and skilled
What is medical billing?
Medical Billing is a process by which hospitals, doctors or other healthcare practitioners bill health insurance companies for claims. A claim starts with a patient’s visit to a hospital. The clinician diagnoses the patient and tries to
Transition from ICD-9 to ICD-10 is approaching fast. Its deep impact on revenue and clinical efficiency on healthcare indsutry will be substantial. Vee Technologies understands the challenges and committed to helping you maintain correct coding, improve clinical documentation quality, enhance coder productivity and help physicians acclimatize with new environment while minimizing interruption.
Now that the ICD-10 final rule has arrived, let’s reap
The Health Insurance Portability and Accountability Act (HIPAA) mandated that all healthcare clearing houses, healthcare providers and health plans must comply with new electronic transaction standard, which is version 5010. Moving away from 4010 format, HIPAA 5010 which went into effect from Jan 1, 2012, makes sure that healthcare transactions can ably support new and dynamic developments in healthcare management like ICD- 10 code set changes etc.
In healthcare outsourcing, Urgent Care Management is a new playing field with complex regulatory issues, complicated reimbursement system and multiple health plans from gamut of service providers. Amidst ever changing regulations and overwhelming coding rules, finding the lost income that your urgent care business legitimately owes has become
Document Review job, when outsourced, is done by legal professionals working under qualified U.S. attorneys at a reasonable cost – in fact, significantly more economical than handling it in-house. Outsourcing Document Review is economically beneficial at a savings of generally 35% or more and it is also time saver, allowing key staff to focus on more strategic elements
To survive and sail through the tough times in the US healthcare industry, many organizations have come up with some pretty innovative and out-of-box solutions to reduce costs, increase revenue, enhance turnaround times and improve processes. Topping the list for many organizations is the natural transition to contract a strategic medical billing services company…often across the globe in India. Initially, turning over part of the revenue cycle management processes to a medical billing
Although outsourcing as we know it today was not labeled until 1989, outsourcing as a business strategy to countries like India continues to grow all across the globe — despite the current “political hot topic” anti-outsourcing campaigning. The positive benefits are simply too great. Turning non-core processes and essential functions over to an external supplier enables companies to leverage their resources, spread risks and concentrate on issues critical to their survival and future
We all see it. The world around us is changing, this includes the complex and ever-changing legal landscape. Modern technology facilitates mass processes influencing human life in every aspect at large. Legal processes that were once handled exclusively in-house can now be safely outsourced to trusted global services partners. Hard copies are replaced by soft copies
At Vee Technologies, we understand that the March 31st deadline for the 4010 to 5010 EDI Health Care Claim Transaction set is approaching fast and there are innumerable providers, payers, and vendors still at risk for non-payment of claims at the start of Q2 2012. ICD-10 is not just for those who submit Medicare claims but for any healthcare organization that processes, stores or transfers any type of patient health information covered by HIPAA.
Even with the recent deadline extension from