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Wednesday, November 28, 2012

Healthcare Cost Management Through Technology and Expertise

While wellness programs and other long-term cost containment strategies have their place in healthcare cost management, most organizations require cost reduction now. Current or recent increases in health plan claims are what most often drive companies to search for healthcare cost containment companies. That's where technology and expertise become most important. So what should corporations be looking for to contain health plan claims right now? Let's have a look.

Analytic technology and tools that are ahead of the curve. Superior software that delves deep into claims billing is a critical step required by companies aiming to reduce unnecessary health plan claims. Industry experience is certainly necessary to understanding the requirements for this software, but superior software that delivers clear, meaningful reports is crucial to helping companies understand their health care costs. Some of the things that superior software can perform would include detection of irregularities, rich editing and auditing of claims, and claims trend analysis, among other things. When a healthcare cost management company can provide truly meaningful data that can integrate with that of any corporation this reduces lag time in implementation and can provide more immediate cost reductions. State-of-the-art software that audits every claim down to the last detail is critical to cost reduction.

Expertise in Auditing and Clinical Bill Review. This begins with people, starting at the top of any healthcare claims management provider. The company's experience in auditing claims, understanding the industry, detecting fraud (among other things) must be deep and rich. This must extend through its entire staff of claims auditors who must provide medical, analytical and negotiating expertise. This is critical to helping companies identify opportunities for improvements and to reduce unnecessary health plan benefits claims and costs.

Well established PPO Networks. The establishment of preferred provider organizations comes with experience and expertise of course, but a rich, wide understanding of network availability and integrity is critical to reducing healthcare costs. That quest for experience extends into the provider networks as well, so that cost management companies ensure that healthcare providers are aware of cost reduction opportunities and avoid waste or mismanagement.

These are only a few aspects that form part of effective healthcare cost management but these are some of the most critical in immediately reducing healthcare claims, especially those due to unnecessary errors, abusive impropriety or fraudulent claims. Look for superior technology, experience and expertise when you want to immediately reduce healthcare costs due to undue health plan claims.

Medical Insurance Quotes - Things That Can Affect Your Premiums How To Keep Up With So Many Changes in Medical Billing Maximize Your Medisoft! (Unknown and Underused Functions of Medisoft) Is the Job Growth Affected by the Existence of Software That Handles Medical Billing and Coding? General Overview of the Medical Billing and Coding Process

How Much Would You Spend to Prolong Your Life? A Key Question in the Healthcare Crisis

"Even death is not to be feared by one who has lived wisely." Buddha

It is pretty rare to see an article that clearly demonstrates a key issue in the healthcare crisis, even if the authors don't appreciate it. The study referenced today discusses ethnic differences in the willingness of families to spend their fortunes for extending their lives. The actual results about different ethnic groups is less important than the concept itself. How much of your money would you spend keeping yourself alive? If you were dying of cancer, and needed dialysis to stay alive a few more months, would you pay for it yourself? What if it left your family penniless? What would be your answer at age 20, 50, 70 or 90? Is a 20% chance of curing your wife's cancer worth spending all of your savings?

Such questions reach to the very heart of our healthcare crisis. It is this end of life care that is bankrupting Medicare, yet these questions are not being openly addressed. Presently, the government pays for any and all treatments, even minimally effective, enormously expensive palliative therapies. One of the primary differences between America and other countries is the limits nations such as Britain and Canada place on end of life care. Paul Ryan's plan, now being so harshly criticized, obliquely addresses this issue. It is time we spoke openly.

I spent many years taking care of patients dying of cancer, and have seen lives put on hold, careers ruined and families destroyed by the illness of a a family member. The large number of bankruptcies caused by illness is beginning to see some publicity, but the impact is far wider. Unfortunately, financial ruin is just a part of this destruction. Retirements postponed, debt incurred, and dreams put on hold are so common as to be routine. The time spent taking care of people, and the gut wrenching emotional trauma seeing a loved one die terribly, is even more damaging. Even with Medicare, ancillary expenses, additional nursing care, and uncovered treatment have major financial consequences.

Needless to say, my experiences have had an impact upon my own thinking. Once I am ill, and the prognosis is clear, I don't intend on being a burden to my family or children, and particularly don't want to compromise their future for a few extra weeks of months of life. Dying painlessly, with my faculties and finances intact, is a major goal of my elder years. In Buddhist culture, an enlightened man gets to choose the method of his death. Modern medicine has given us a little bit of this power, and I for one intend to use it.

http://www.doctorslounge.com/index.php/news/pb/19640

Why Have Medical Aid?

When asking yourself 'why have medical aid?' you have to think about the consequences of not having medical aid. Without a medical aid plan, you will either be forced to rely on state-run healthcare facilities or otherwise try to find a way to pay directly for private care. Since private health care can run into thousands of dollars, it usually isn't practical to simply go to a private hospital and expect immediate treatment. You may be required to take a loan out and thus get into debt as a result of a medical condition which you have no control over.

Of course, there is always the option of state health care, but this could be even worse, since you may not be treated when you need to be and could end up waiting for weeks or months for treatment which you require urgently. State-run healthcare facilities are often underfunded and overcrowded and it is quite possible that your needs will be ignored, so that the only alternative becomes private health care. If you don't want to get into debt, though, then taking out a medical aid plan is probably the most sensible option, since this will cover most of your expenses and give you peace of mind.

It can be quite hard to know where to start when looking for a medical aid plan, because there are so many different medical aid providers and schemes to choose from. However, think of it this way - with so many different options you have a better chance of saving yourself some money and getting a good deal. You have to be aware of the range of options available to you when picking out a plan, as some are more comprehensive than others.

If your primary concern is not being able to afford hospital bills, because you're generally healthy, you may want to take out a hospital plan. If, on the other hand, you are worried about continuing ill health that will require regular consultations with your doctor and lots of medication, you may be better off choosing a slightly more extensive plan. This may cost you more on a monthly basis, but at least you won't have to worry about being able to afford all those little costs which soon mount up when you're ill.

Plus, you have to decide how many people are going to be covered by your medical aid plan, as this will also affect how much you have to pay. If you're single you may get away with a more basic plan, but if you intend to start a family in future or already have children, then you will have to look at a plan which covers all your family's needs. Children are always having minor accidents and falling ill, and clearly you want them to be protected. You clearly don't want to have to take them to a state hospital if you don't have to.

Ultimately, then, you need to have medical aid to ensure that you get the best medical treatment available without having to wait a long time for it or getting into a substantial amount of debt to pay for it.

What Is Medical Billing and Coding?

If you are asking," what is medical billing and coding?" perhaps you are interested in knowing the job opportunities related to these fields. First of all, you must know that medical billing and coding deals with the accurate recording and processing of different patients' data, including their treatment records, insurance information, bills, as well as the received payments. The medical billing and coding specialist is the one who records the patient's diagnosis, the request for payments from an insurance company, or even directly from the individual. This work is not limited to a hospital alone; it could also be done in the doctor's office, a mental rehab facility, or other health care institutions that requires such a service. From this information alone, you can see that medical invoicing and coding jobs are very promising, and if this has piqued your interest, read along to find out more.

Now that the question "what is medical billing and coding?" is answered, perhaps you'd be interested to know more about jobs related to it.

So, what is medical billing and coding specialist? It is important to know what the health care industry expects from medical coding specialists, in order for you to know how your qualifications stack up. A skilled medical billing and coding specialist is expected to accurately record and register patient information, verify their insurance policies, and keep track of patient accounts; these may seem simple, but in this job, there's no room for error. Since health care is a very important aspect for an individual regardless of the age, the gender or the job, they can't afford to have any problems with the processing of their information. As a medical billing and coding specialist, you are expected to input every information regarding the patient accurately, and as much as possible, free of errors.

Oftentimes, data entry and organization are done using computer systems, so you won't run out of useful tools to do your job properly. However, some companies do maintain paper copies of documents, so you'll also be expected to do such jobs. Since you are the one keeping tabs of patient information, you're expected to speak with them directly regarding their statements and payment options. The coding part of the job involves taking note of all the illnesses and diagnoses made by physicians and then transcribing them to a format that's recognized throughout the health care industry.

Now that the question "what is medical billing and coding specialist?" is already answered, it's important for you to know about certain qualifications for the job. You normally need to have a high school diploma, but most of the time, employers favor those who have obtained an associate or bachelor's degree in business administration, accounting, and other similar fields. Learning about job specifics are usually done through paid training for these specialists. There are also certifications given by nationally recognized organizations in order to buff up your credential. All of these efforts are well worth it though, since this job usually pays well, from $10 to $18 per hour.

Interested In Medical Billing And Coding? - Get All The Details On This Career

Medical billing and coding is a growing career in the medical field. It is an essential position in any professional medical practice of today. The job has changed a bit over the years, whereas tedious administrative duties used to consist of many hours filling out medical and insurance forms for companies to ensure that the doctors and medical professionals would receive reimbursements in a timely fashion. In this thriving world of technology, and the "paperless" office, insurance billing software is the way most professional offices complete their billing process.

The job, itself, may include resolving any disputes that arise regarding unpaid or pending claims. There are a series of steps and procedures which requires the medical biller and coder needs to follow in order for the process to move along in an expedient manner.

The nature of the position and the process usually depends on the various insurance companies and the criteria that is needed for their diverse requirements of billing and coding. Some medical billing and coding jobs are indeed a challenging task and often it is in the professional offices to outsource the work, due to the fact that they do not employ the capable staff.

In examining this exciting career path, the biggest question is "do I need to be certified"? One of the good things to know is that if you do become certified, a higher starting salary, than those who are not, usually always follows. Outlines of raises and bonuses, as well as, a benefits package including health insurance, sick pay, vacations and holidays.

There are many positions that you may be hired for, where your employer would like you to train on the job, to gain the experience and knowledge from other staff members, that fit their specifics needed. This is a good thing, as it does not overwhelm you with information without experience. In this position you would be allowed to "grow" into the position, and the benefits would be that of spending the time in school, and gaining experience without a classroom curriculum.

What can I expect for a medical billing and coding salary? Well, that does depend on experience, certification, demographics, and if you work in a large medical facility, such as a hospital and institution or a smaller private practice. And lets not rule out becoming an independent contractor, working as an outsourced biller and coder, from home.

On average the starting salary is about $25,000 a year, respectively, and those with more experience and certification, can command as much as $35,000 to $50,000 a year. As you can see, it does pay to have the medical billing and coding education. Not everyone desires to work full time, so a part time position, within this field, or a home based business, can provide them with a very lucrative income.

What ever your career plans are, medical billing and coding jobs are on the rise and in high demand. With a bit of research on your part, you can access the benefits of taking on this career and build your way to a brighter securer future!

Medical Coding Education - How to Choose the Right School

Choosing the right school can be a daunting task. Your options for schools have expanded quite considerably over the last decade. In the end, you have a choose an education program that is right for your lifestyle. This article will give you some insight into how to choose a medical billing school.

One of the first things you should ask yourself when choosing this career path is, do you have the time. It is very easy to think that because you only have to work forty hours a week, school will be an easy fit. However, if you have a family or a lot of debt to worry about, it might be wise to take stock of these factors in your life first before signing up for classes. The last thing you need is to be two weeks into school, and be forced to dropout due to no time. The best way to avoid this is to draw up a weekly outline of your commitments. Be sure to include estimated drive times and additional study-time. Once all your commitments have been added to the calendar you should have a clear picture if medical coding school is right for you.

The next factor you have to consider is tuition cost. Your Medical coding education will cost you anywhere from $800 to $2,000 depending on your program and geographical location. Keep in mind that just because a school is more expensive does not mean it is better in any way. This is substantially lower than what most educational programs cost which is a huge benefit. You also have the luxury of applying for a government backed student loan. You can call your local banks and credit unions for more information and rates.

The best place to find schools is right here online. Today's electronic age has ushered in a new era of online classes. There are literally dozens of online medical coding schools to choose from. Whatever type of school you chose, be it online or at your local college it is vital that you research them online for negative reviews. You must also make sure that the are an accredited institution. One of the quick ways to find this out is if they accept student loans from the US Government.

Now that you have all of the above factors in order, you should have no problem finding a school that is right for you. Remember this is an investment into your education and more importantly a new career path. With some due diligence and by going the extra mile, success will be guaranteed.