6 Tips for Young Docs Reviewing a Job Offer Contract | Physicians Practice

Young doctors are eager to start their career. However, don’t just sign your offer contract without taking these pieces of advice into account.

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New physicians should obtain expert legal advise and talk to their insurance broker in order to be able to fully understand the terms of their contract and coverage.

Frustration Prevails with ICD-10, Meaningful Use in 2015 | Physicians Practice

In a two-part series, Physicians Practice looks back at the top health IT issues of the year. Part one focuses on meaningful use and ICD-10.

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Nothing on the technology front loomed larger than the ICD-10 conversion. Although a KPMG LLP survey found that 80 percent of organizations said the transition has proceeded fairly uneventfully, others say that there still may be physician productivity decreases in 2016. 

Risks of Being Acquired by Non-Hospital Entities | Physicians Practice

Looking to get those administrative burdens off your plate? Before you sell to a non-hospital entity be leery of these compliance risks.

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Hospitals aren’t the only ones looking to buy up physician practices anymore.  Health insurers, private equity firms, and practice management companies are increasingly offering big upfront payments, long-term contracts, lucrative “joint ventures,” and other financial incentives to physician practices. Physicians contemplating these kinds of sales must ask themselves: How does the acquiring company propose to increase practice revenue and more importantly, will they have to change their clinical approaches to accommodate those goals? 

Lessons from 2015’s Top Health Data Breaches

The year 2015 will be remembered for the surge in massive hacker attacks in healthcare. But what lessons can healthcare organizations and their business associates

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With over 90 million individuals affected in 2015, hackers were busy targeting the healthcare sector last year. As a result, we are seeing more healthcare practices purchasing cyber insurance coverage. Hospitals, Health Plans, and, Insurers are also requiring demonstrated data security practices and proactive information security programs.

Diabetes treatment innovation raises questions of reimbursement

One of the nation’s leading endocrinologists warns that a so-called

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Another reason we need to move to value based reimbursement as quickly as possible – we are asking a physician to kill his business by doing what is best for the patient. That is simply unfair to everyone.

CMS finalizes prior authorization rule for #DME

In a move meant to prevent fraud while protecting access to medically necessary supplies, the CMS on Tuesday issued a final rule that mandates prior authorization for some durable medical equipment prosthetics, orthotics and supplies.

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Clearly the trend for CMS is to create practice guidelines for anything they are concerned is being overused. For this reason, providers need to make sure they are aware of, and their staff are following, the new guidelines or they risk not being reimbursed at best and fines and penalties at the worst.

Understanding the perils of vicarious liability | Medical Economics

The terms

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“Managing vicarious liability risk when you are working with independent contractors can be complex. While hiring an independent contractor seems like the best way to shield your practice from vicarious liability, you can still be drawn into malpractice lawsuits.” Lisa Ryan, DC Risk Solutions

How to survive in independent practice | Medical Economics

Despite a healthcare environment that’s pushing physicians toward employment, many doctors still value their autonomy, and are exploring strategies to preserve their independence in the face of increasing burdens and financial difficulty.

Read the full article at: medicaleconomics.modernmedicine.com

“While many physicians are staying in private practice, some are leaving their independent practices and joining hospitals as employees. If that doesn’t appeal to you, one option is joining an independent practice organization (IPA). You can keep your autonomy and receive the benefits of a larger organization.” Lisa Ryan, DC Risk Solutions

Medicaid #ICD10 workarounds in California, three other states worry providers

On Oct. 1, Medicaid programs in California and three other states will not fully convert from the ICD-9 to the ICD-10 coding system. Instead, they have received CMS approval to convert claims coded in the ICD-10 system into ICD-9 codes, and use the older system to calculate payments to providers.

Read the full article at: www.modernhealthcare.com

In order to do this they will have to run two parallel systems one on ICD 9 and the other on ICD 10 as there are almost no Medical only providers. Once again CMS is trying to save us from ourselves.

For-profit hospitals making more money, with a stable forecast

As hospitals around the country continue to consolidate and streamline operations, a leaner healthcare industry is also becoming more profitable. Moody’s Investors Service Monday said there’s a stable outlook for the U.S. for-profit hospital sector.

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“This is very similar to what we saw in the early 90’s when HMO’s drove consolidation and duplication out of the system. Once these one time gains are realized the hard work of creating a much more efficient, which by definition will be more integrated,  system begins. As we saw the early gains of the 90’s evaporate with time version 2 with bundled payments is putting the onus on the providers and not just on the plans as in version 1.” Shawn Evans, DC Risk Solutions