WEDI, an organization dedicated to improving healthcare via health IT, recently revealed that only 20% of physician practices have started or completed ICD-10 external testing and less than 50% responded that they were ready or would be ready for the Oct. 1 deadline. The annual WEDI ICD-10 survey involved more than 621 respondents, consisting of 453 providers, 72 vendors and 96 health plans.
Read MoreHealthcare expenditures are expected to grow at a slower rate than in the past, but it’s expected that the healthcare growth rate will run higher than the growth of the GDP. According to the CMS, it is projected that healthcare expenditures will grow at an average rate of 5.8% over the next decade, to reach a maximum of $5.4 trillion in 2024. Meanwhile, the GDP will grow at an average rate of 4.7%. Nonetheless, the growth rate for healthcare is still lower than in the years prior to the recession, which was an average rate of 9% a year.
Read MoreMany physicians are seeking more independence in the healthcare industry. One trend is to transition to a private practice from a hospital. An alternative is to open a private practice and charge patients a monthly subscription fee instead of accepting insurance. The following are some tips on how to successfully transition to an independent, private practice
Read MoreHospitals must rethink their mission and strategy due to escalating health costs, insurer consolidation, ACA implementation and increased price sensitivity by employers and consumers. Operating margins are diminishing and pressure to keep premiums down is increasing. Therefore, increased enrollment is simply necessary stay in business and consequently the commercial insurance market is shrinking.
Read MoreDr. Sharon Iglehart is accused of federal conspiracy, 2 health care fraud charges and a pair of allegations that she made false statements to investigators. The psychiatrist was indicted separately in the Riverside General Hospital $160 million Medicare billing fraud scheme. After being arrested in December 2013, Iglehart retained her freedom on $50,000 bail and pleaded not guilty to the twice amended 5 counts.
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