Tag: #revenue

Posted in In The Know Series, Insurance, My services, Payers and CPT reinbursement

Does more GHI patients = more revenue? Year 2018

Posted on by KR2Medical Billing

In recent 2 months or so, I have seen an influx of GHI patients coming to my practice.

Great for business, right?….Well it depends on your preference and financial stability of your practice.

Let me Explain.

In the last year In Network Providers have noticed an increase in “Patient Financial Responsibility” and substantial reductions in payments for certain allergy and immunology CPT codes and/or EM codes.

For Example: CPT code like 99213 carries a $30 co-pay and payment of $17 to the provider or no co-pay and a payment of $40 or co-pay of $10 and a payment of $37 to the provider, or co-pay of $30 and a payment of $24 to the provider.

CPT code 94200- carries a $20 co-pay with no payment at all and a co-pay of $22 for CPT code 95117 with no additional payment.

Respectively lower payments compare to other payers.

Providers started to notice this trend and slowly but surely some of them started to either stop accepting new GHI patients or completely stop accepting GHI insurance all together, like ENT.

So should you accept more GHI patients? Well, it is up to you.

I personally created a specific form for GHI patients- informing them of new changes and their new Patient Financial Responsibilities. I let the patients have options to either choose to perform certain services and pay respective co-pay or opt out completely.

Now it is your turn: have you seen an increased amount of GHI patients in your practice? Do you even accept GHI?

Posted in In The Know Series, MIPS, Practice Fusion EMR, Training

Allscripts bought Practice Fusion EHR?

Posted on by KR2Medical Billing

Let me just start with saying that in the past 2 years Practice Fusion has improved significantly, From evolving their MIPS/MU reporting and dashboard to, as of October 2017, on becoming the CMS recognized Reporting Registry.

So, I was completely blindsided when I found out, from one of my single-provider clients, that Allscripts bought out Practice Fusion on January 8, 2018 for $100 million cash “monay”. LOL

Wow…..

To add more to this news the client also stated she has received an email from Allscripts with the new monthly subscription plan for using her PF EHR. What is the price? Well in her case – $500 for 1 provider per month. This is devastating news for this single-provider office. Considering that small practice office like hers does not have the high revenue in comparison to a mid size or big group, it will become a financial burden.

She is now considering other alternatives, which honestly is hard to find, since not all EHR/EMR’s out there in the market, are 2014 or 2015 Certified EHRs.

Now it’s your turn: is your practice using Practice Fusion? Will Allscripts buying PF affect the revenue in your practice?