Power Your Practice

In January, CMS reported that more than half of eligible professionals have received their incentive payments for demonstrating meaningful use of a certified EHR. However, a recent joint study from CareCloud and QuantiaMD holds a microscope over private practices, showing EHR adoption rates differ significantly across specialties.

The Practice Profitability Index (PPI), a survey created to provide a voice to physicians regarding their concerns about issues affecting their financial and operational wellbeing, could provide us with a few insights as to why some specialties lag behind others.

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On May 8, Health and Human Services (HHS) Secretary Kathleen Sebelius released a massive data file, detailing what more than 3,000 hospitals charge for the 100 most frequently billed medical services under Medicare.

As part of the Obama administration’s efforts to increase healthcare transparency for patients, this pricing data can actually benefit your practice as well.

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Electronic prescribers take note: A major deadline is approaching. Individual eligible professionals (EPs) and group practices participating in the Group Practice Reporting Option (GPRO) must successfully report as an electronic prescriber before June 30, 2013, in order to avoid a 2014 payment adjustment for professional services covered under Medicare Part B’s Physician Fee Schedule (PFS).

The Centers for Medicare & Medicaid Services (CMS) issued a reminder on May 7, emphasizing that the 2013 ePrescription Incentive Program 6-month reporting period (Jan. 1, 2013 to June 30, 2013) is the final reporting period available to e-prescribers seeking to prevent the 2014 eRx payment adjustment.

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According to a new study from CareCloud and QuantiaMD, a variety of issues are resulting in a downward trend in practice profitability. Among the four most commonly-cited obstacles, three are related to government regulations and mandates.

The survey, a partnership between cloud-based health technology provider, CareCloud, and QuantiaMD, the largest online physician’s community, was created to provide a voice to practices across the U.S. regarding issues that impact their financial and operational health.

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