Economics

This channel highlights factors that impact hospital and healthcare economics and revenue. This includes news on healthcare policies, reimbursement, marketing, business plans, mergers and acquisitions, supply chain, salaries, staffing, and the implementation of a cost-effective environment for patients and providers.

CMS finally confirms official coding deadline

The Centers for Medicare and Medicaid Services (CMS) announced late last week that October 1, 2015, is officially the new transition date for the International Classification of Diseases 10th Revision (ICD-10) coding system in healthcare claims. 

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AHIMA article clarifies need for ICD-10 changes; dispels misconceptions

Since the announcement of the ICD-10 delay earlier this year, many healthcare providers have questioned the need to continue spending on staff and physician training. Additionally, some questioned whether ICD-10 would be implemented at all, and the transition would simply be made to the ICD-11 coding. An article in the current issue of the Journal of AHIMA addresses some of the most common concerns surrounding ICD-10 and intends to dispel several misconceptions.

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Johns Hopkins and Kaiser Permanente Announce Partnership

Two of the nation’s most well-known healthcare organizations, Johns Hopkins Medicine and Kaiser Permanente, announced a strategic collaboration that joins one’s academic research and clinical capabilities with the other’s expertise in population health management.

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Lung-cancer screening: A long time coming

A recent study published in the journal Cancer concluded that patient anxiety associated with a false positive lung-cancer screening was no greater at one and six months post-screening than that of patients who received a negative result.

Cutting reimbursements will cost more in the long run

The current physician piecemeal reimbursement model ultimately drives up the costs of healthcare according to Sandeep Jauhar, MD. In a New York Times editorial he explains that while overutilization is certainly a factor, cutting payments to physicians is a self-defeating strategy, forcing them to increase the number of patients they see, which reduces the amount of time spent with each one. Busy doctors call on others to help with the patient load, often times specialists who may order more tests, driving up costs. "There is no more wasteful entity in medicine than a rushed doctor," says Jauhar.  

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Many who signed up don’t understand coverage, surprised by high deductibles

The Obama Administration reports more than eight million people have signed up for health insurance under the new healthcare law, but many of those newly insured are confused. Responses like this are common: “I have my card, now what?” or “I pay my premium, why am I getting a bill?”

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Collaborations for independence

The new world order in radiology is much more about collaboration than independence, or rather, collaboration to retain independence. More and more, radiologists need to function as consultants, collaborating with other healthcare colleagues to increase their value through their expertise and best practices.

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Sound practices in imaging valuations: What a realistic buyer/seller would do

VMG

The final rule for the 2014 Medicare Physician Fee Schedule, which was released by the Centers for Medicare and Medicaid Services (CMS) in November, announced significant reductions in reimbursement for imaging-heavy specialties, and these reimbursement cuts will have major effects on future revenue streams for imaging facilities all over the country.