The demand and cost of healthcare services continues to increase at a relentless pace. For many physicians and health systems, they are scrutinized by governing bodies, commercial payers, and “consumer-minded” patients to decrease the cost of care while maintaining its overall quality.
In the United States, healthcare payers lose billions of dollars every year to insurance fraud, waste, and abuse (FWA). The Government Accountability Office (GAO) has designated Medicare as a high-risk program since 1990 because of its size, complexity, and susceptibility to improper payments.
In healthcare, a no-show is a patient that misses a scheduled appointment without proper cancellation. Reducing no-shows can have a tremendous, positive impact on a practice resulting in improved efficiency, reduced costs, and improved patient outcomes.
Risk adjustment has been a mainstay of Vee Healthtek for the past several years. We have excelled at retrospective, concurrent and prospective reviews. Our HCC coders have abstracted codes for risk adjustment from medical records.
The epidemic of COVID-19 began in December 2019, springing a surprise on the healthcare community. Scientists and the medical community have a good understanding of viruses that impact the global population on a massive scale.
In 2020, the world was impacted by a pandemic that changed the way that businesses operated, requiring office locations to fully shut down in impacted areas.
We’ve all heard the stories or know somebody who was impacted. It may even be you. Somebody needed medical care and they looked for the best physician they could find. The procedure was performed and the bill was submitted to the insurance carrier; unfortunately, the resulting patient bill left them in shock.
Manual processes have contributed to roughly $400 billion per year in unnecessary spending and write-offs caused by the complex rules and regulations, multiple parties coordinating care, and antiquated systems.
What are the most crucial aspects of an effective patient-provider encounter? Most can agree the primary goal is to prevent ailments or to cure them. For the patient, proper treatment of any health issue begins with a visit to the doctor and complying with treatment.