HCPCS stands for Healthcare common Procedure Coding System, and is a standardized set of code that is used extensively by healthcare professionals and insurance providers in order to chalk up the insurance claims. The codes and resources provided by HCPCS offers and orderly method to assimilate and calculate the insurance, thus making it easier for everyone involved in dealing with insurance claims.
Medicine has transcended from being a profession that focuses solely on curing patients to multi-billion dollar commerce. Physicians and hospitals have been forced to amend their means of operation in order to accommodate the magnanimous paper work and related bureaucracy. Medical coding standards have steeply risen in complexity and size, thus risking overworking your current staff in billing and applying for claims and reimbursements.
The Hierarchical Condition Categories (HCC) was developed and implemented by The Centers for Medicate and Medicaid (CMS) in order to create a risk adjustment methodology to provide adequate payment plans for patients opting for private health care. These codes are primarily based on the health expenditure risk profiles of the Medicare Advantage (MA) plan members;
Dealing with medical bills is one of the leading concerns of physicians and health care professionals. Attempting to deal with such complex and ever changing medical billing and coding practices by themselves is a tedious process indeed. This measure is increased manifold when dealing with cardiology billing. This is a highly specific area of medical billing and requires specialized training and experience that helps maintain a fair degree of accuracy and reliability.
CPT is short for Current Procedural Terminology, and is a set of medical codes that defines a slew of medical related procedures and services to physicians, health insurance companies and accreditation agencies. CPT procedures operate closely with ICD-9 and ICD-10 diagnostic coding, except it defines the services rendered, while the ICD coding focuses more in the diagnosis on the claim.
The latter end of 2015 saw a significant change in medical coding. The standard ICD-9 (International Classification of diseases, Ninth Division), which had been in use for over three decades was upgraded to ICD-10. This new classification comes with a set of significant upgrades and changes, for example ICD-10 coding uses a wider,
The latest in a series of steps taken by the Centers for Medicare and Medicaid Services (CMS) to incentivize care quality over volume; MACRA was signed into law in 2015 and replaces the previous Medicare reimbursement schedule to a new pay-for-performance program that’s focused on quality and accountability. Starting January 1, 2017, all Medicare Part B providers will enter a new payment framework called the Quality Payment Program,
In response to the demand for improving the capture of chronic illness diagnoses for reimbursements, the Center for Medicare and Medicaid Services (CMS) mandated the development of the Hierarchical Categorical Condition (HCC) code system and implemented it in the year 2004. The incorporation of the HCC codes has helped drive CMS payments to Medicare Advantage (MA) members.
With healthcare reform and system changes underway, accurate medical documentation and coding is critical to the financial health of your practice and to the health of your patients. In 2004 Medicare implemented an HCC (Hierarchical Condition Categories) model to adjust capitation payments to private health care plans for the health expenditure risk of their enrollees.
Representing a departure from the volume based, fee-for-service model, MACRA replaces the SGR (sustainable growth rate) formula to control Medicare costs. Linking Medicare reimbursements to quality metrics with providers being rewarded for quality and value based care; MACRA repeals the set payment rates based on economic growth, which was the hallmark of SGR.