The American Medical Association (AMA) has recently expanded its Current Procedural Terminology (CPT) code set to include four additional codes for coronavirus testing. These new codes facilitate providers in reporting a wider range of laboratory tests for the novel coronavirus on medical claims. The newly introduced CPT codes are as follows: •86408: SARS-CoV-2 neutralizing antibody […]
Healthcare is the industry most at-risk during the coronavirus (COVID-19) pandemic. Providers are on the front lines of response efforts. At the same time, the financial implications of the pandemic are also creating significant revenue cycle challenges, putting providers even more at risk during the pandemic. Individuals are postponing non-emergency care for many reasons, from […]
Payers are reimbursing providers for all COVID-19-related testing and treatment they are furnishing to their insured members, but what if the patient is uninsured? Healthcare providers need not write off COVID-19 testing and treatment services rendered to uninsured patients. Compensation is available! The public health emergency for COVID-19 requires the healthcare industry to focus their […]
Deemed the epicenter of COVID-19 deaths by many, skilled nursing facilities and other nursing home providers are now on the verge of collapsing without financial help, industry leaders say. Skilled nursing facilities are on the verge of collapsing due to historic underfunding and the financial repercussion of the COVID-19 crisis, according to a new report from the […]
Every year, the Trends in Healthcare Payments Annual Report is distributed to start a conversation about the current state of the industry and shine a light on areas where change is needed. For healthcare providers, the report has consistently found that more of their revenue is dependent on out-of-pocket payments from consumers and less is […]
Financial indicators, staffing, and leadership are three key factors emergency departments should prioritize for effective revenue cycle management during the COVID-19 crisis. At the start of the year, emergency departments (EDs) across the country began to prepare for an expected surge of patients infected with COVID-19, altering revenue cycle management and operational strategies. By March, […]
The COVID-19 pandemic continues to send more Utah residents to hospitals. Given the rise in hospital visits, addressing the need for cost transparency and clarity for patients has become more urgent than ever. Surprise Medical bills, a familiar issue, is receiving even more attention and press coverage during this unprecedented time. In a 2019 […]
In unprecedented crisis of COVID-19, the first instinct is to triage our activities, often weeding out the ones that seem to be the least important. Some of those will never surface again and just become part of the detritus left behind. Tucked into the recent CARES Act, the Coronavirus Preparedness and Response Supplemental Appropriations […]
The healthcare system is facing an unprecedented crisis, but accurate COVID-19 coding and billing can help providers weather the storm and prepare for future outbreaks. The COVID-19 pandemic is putting strain on the healthcare system, but accurately capturing data and documenting cases of the novel coronavirus can help ease the burden on providers. COVID-19 […]
Reimbursement details have not yet been established. The American Medical Association (AMA) CPT® Editorial Panel has made adjustments to one code and introduced two new codes to enhance the specificity of serology laboratory testing. These codes, released on April 10, are immediately applicable. Reimbursement arrangements for the Centers for Medicare & Medicaid Services (CMS) are […]