Banks are poised to lend money to doctors regardless of the economy. Why? They're anticipating that doctors will begin to move from numbered labels on manila folders to data files on computer screens.$19 billion of federal money is coming available in 2010. Part of it will reimburse medical practices who implement electronic medical records (EMR) systems as part of their patient management systems.Banks are Prequalifying DoctorsOne example is the...more
In essence, the current technology utilized in the field of medicine is still very limited but the application of NIR reflectance in this particular field has occupied a very important and essential role. NIR technology is utilized in this industry to breach biological tissues such as cortical tissues in order to obtain accurate imaging of the brain and determine its current functions non-invasively and thus painless in every aspect of the...more
The key finding of The American Medical Association's (AMA) 2010 National Health Insurer Report Card is that one in five medical claims are processed inaccurately by health insurers. According to the AMA's findings of the nation's participating seven largest commercial health insurers, the health insurance industry as a whole has about an 80 percent accuracy rate for processing and paying claims. Consider these statistics: A one percent improved claims processing accuracy creates an estimated savings of $777.6 million in unnecessary administrative cost.As much as $ 210 billion annually is spent by the health care system on claims processing.The equivalent of five weeks of physicians time is annually spent on health insurer red tape.As much as 14 percent of physicians divert of their revenue to keep up with the administrative tasks required by health plans and to ensure accurate payments from the same.The systems health insurers use to process and pay claims were measured according to:- Accuracy- Denials- TimelinessSince denied, rejected, resubmitted and underpaid claims can cost you as much as $100,000 per month according to the AMA, every effort you can make to reduce denials,...more
Medical Practitioners already know that maintaining a thriving medical practice means that many obstacles have to be overcome. It does not help when those challenges are constantly changing as noted in the latest Medical Group Management Association (MGMA) survey.Compared with data taken in 2008 and 2009, the just released 2010 survey results had...more
To receive the proposed high-tech incentives, practitioners must use EHR technology in a meaningful manner. What this means is that eventually, there will be certification process to go through. The cumulative $44,000 per physician incentive will be paid out to those physicians who are able to demonstrate meaningful use of certified EHR (Electronic...more
Every firm, including medical practices, is feeling the effects of this "going on too long" recession. In the 2010 the responses indicated nothing had changed. If anything, it appears to be becoming more of an issue.The survey, conducted in 2009 and 2010 by the Medical Group Management Association (MGMA), suggests the following items that already have or probably will impact medical practices:- An overall revenue decrease- Cuts have been made to the operating budget- The uninsured patient load has increased- A reduction in wellness and other preventative type of patient visits- Account receivable increase- Patient no- shows are on the rise- A delay in capital outlay spending- Sub-par appointment reminder tasks- Contract renegotiation for low payersThe number one impact of the recession for two years running, however, is a need to improve billing and collection processes in medical practices. Where most processes need improvement, is in the very beginning of the workflow. This one is no exception. For example, to improve billing and collections, an automated verification system would be helpful. Done prior to when the patient arrives for an appointment, automotive verification...more
If you're thinking at all about getting certified in or a certificate in medical billing, there are a few things you may want to know. It's certainly possible to get a job in the billing field without a certificate. Many people have done this and...more
Global Markets for Orphan DrugsThe value of the market for orphan drugs was an estimated $85 billion in 2009, but is expected to increase to more than $112 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 5.7%. The largest segment...more
However, this picture is quickly changing as groundwater increasingly supplants surface water in many areas of the world as the primary and preferred source of water for all types of use, i.e. domestic, agricultural (crop and livestock) and...more
An emergency medical alert device is essentially the equipment to the medical alert system. This usually includes a small emergency pendant alert that can be worn by the user at all times, and a console connected to the users telephone. In an...more
If your working life does not leave you with much time for your self, it is time to pause and reflect. Your body needs relaxation. A Spa can really help you relax and rejuvenate with a refreshed mind and a glowing face. Dermal fillers! Yes, these can...more
Medical alarm systems are best suited for senior citizens who stay alone in their house. These alarm systems are proving their worth in protecting the life of their loved ones. These alarm systems are said to be an affordable way of guarding your...more