All Posts In The COVID19 Category

Poor Payer Reimbursements are Effecting Practices During COVID-19

HealthIT Answers posted an interesting article on how the pandemic is effecting providers. “Most physicians who have been practicing for a few decades remember the days when private payer reimbursements dwarfed Medicare reimbursements. That dynamic has long since flipped, starting with the 2008 recession. Reimbursements have been flat or have lost value from inflation, while practice costs have seen double-digit increases. Meanwhile, hospitals and insurance-owned health networks have seen reimbursements increase to 300% or more of Medicare in some cases, whereas it’s not uncommon for private practices to receive rates far below Medicare standards. Many practices have seen their volumes decrease from 30% to up to 90%, and a significant …

6 Tips to Keep Your Finances Afloat During the COVID-19 Pandemic

Medscape offers 6 Tips to Keep Your Finances Afloat During the COVID-19 Pandemic… 1. Cut back on expenses Some household spending has naturally tapered off for many families, as social distancing restrictions reduce spending on eating out, travel, and other leisure activities. But this is also an opportunity to look for other ways to reduce spending. Look through your credit card bills to see whether there are recurring payments you can cut, such as a payment to a gym that’s temporarily closed or a monthly subscription box that you don’t need… 2. Take advantage of regulatory changes Although many physicians won’t qualify for direct payments via the Coronavirus Aid …

EMR Documentation Issues During the COVID-19 Pandemic

Physician News posted a great article discussing EMR documentation issues during the pandemic. As hospitals are overwhelmed with COVID-19 patients and staff are stretched to their limits, electronic medical record (EMR) documentation may suffer as a result of rushed, less detailed and error-prone entries. EMR workarounds are also expected to flourish. In the current medical malpractice climate where greater scrutiny can be placed on the EMR and audit trail over the medicine itself, it is very important to maintain an accurate chart. There are steps that can be taken now to prepare for anticipated documentation issues related to care rendered during the COVID-19 pandemic. The most important recommendation is to …

97% of Physician Practices have been Financially Affected by COVID-19

According to Medscape, a recent survey shows that almost half of medical practices are having to furlough Staff, and 1 in 5 have had to layoff staff due to the financial strain of COVID-19. “Clinicians all over the country already likely know this, but a survey by the Medical Group Management Association (MGMA) makes it official: 97% of physician practices have experienced negative financial effects directly or indirectly related to COVID-19. The survey, which was conducted April 7 – 8, also shows that 55% of practices have seen a decrease in revenue, and 60% have experienced a decline in patient volume since the beginning of the COVID-19 crisis. A significant …

Five ways interoperability plays a role in addressing the coronavirus epidemic

HealthIT Answers has an article outlining five ways data interoperability can play a pivotal role in addressing the epidemic… “Even as capacity restrictions force organizations to work without barriers—via drive-thru screenings, make-shift tents or by way of telehealth—real-time access to data can help streamline care management, whether fast tracking admissions or empowering patients at home through online portals. Here are five ways data interoperability can play a pivotal role in addressing the epidemic: Coordination of Care: COVID-19 provides a sobering reminder of just how much a fully integrated, scalable and interoperable healthcare infrastructure is needed. Coordination among first responders, public health officials, labs, acute, and post-acute facilities will be critical …

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