MBC's Best Billing Practices for Bundled Payment Models in Ohio
WILMINGTON, Delaware, June 10, 2014 /PRNewswire/ --
MedicalBillersandCoders.com has been catering to the increasing demands of billing professionals in Ohio for transition concerns about Bundled Payments. MBC has been helping healthcare practices understand the intricacies of this new payment model that is all set to replace the traditional pay-for-service.
As part of the Bundled Payment for Care Improvement initiative, four bundled payment models have been proposed by health authorities that will result in coordinated and high quality care at low costs.
- Model 1 deals with care focused on inpatient hospitalization for acute care
- Model 2 and 3 include a bundled payment arrangement under which the actual expenses are reconciled against a target price for an episode of care
- Model 4 involves bundled payment arrangement where a provider is paid a lump sum amount for entire episode of care
In the subsequent three years Centers for Medicare & Medicaid (CMS) plans to work in coordination with participating organizations to assess if the model lowers the cost for Medicare and improves patient care. Ohio and Tennessee proposed pursuing this payment model as a multi-payer innovation under each state's State Innovation Model grant from the Centers for Medicare and Medicaid Innovation (CMMI). Both the states have received planning grants to pursue bundled payment as a principal strategy.
Experts at MBC have a good understanding of the dynamics associated with these payment models. They use their industry knowledge to help providers in Ohio prepare for potential challenges related to these bundled payment models. They have not only helped several providers implement these payment models but also contributed towards various other benefits associated with this payment platform.
The effective Revenue Cycle Management (RCM) services offered by MBC have helped medical practices in Ohio deal with issues related to bundled payment implementation well. Their expert team has successfully managed to help practices adapt to the new payment model by enhancing internal operations, assessing their revenue cycle to identify gaps and offering assistance in training their staff and replacing existing software to meet health-care reform needs.
Apart from implementing bundled payments and RCM, MBC has also helped providers sail through the following challenges:
- Identification of care services that fall within and outside an episode of care
- Need to avoid treatment of high-risk patients
- Need to avoid treatments that surpass average episode payments
MedicalBillersandCoders.com helps providers negotiate payer contracts and schedules so they work on such new payment models effectively. Along with assistance on payment models, MBC provides expert billing and coding solutions to small as well as large medical practices in Ohio.
MBC is the largest consortium of billers and coders across US. (California Medical Billing, Florida Medical Billing, New York Medical Billing, Ohio Medical Billing). The portal brings together hundreds of billers with experience in different specialties, viz. Cardiology Billing, Family Practice Billing, Gastroenterology Billing, Internal Medicine Billing, OB-Gyn Medical Billing, Orthopedic Billing, Podiatry Billing, Radiology Billing, on the same platform to service physicians in their local areas. This network of billers and coders is growing rapidly and is currently servicing over 50 specialty physicians across the entire US.
Prerna Gupta, Media Relations
108 West, 13th street,
Wilmington, DE 19801
Medical Billing Blog