ORLANDO, Fla., June 4, 2013 /PRNewswire-USNewswire/ -- Hundreds of representatives from the medical billing profession gathered at the recent Healthcare Billing & Management Association (HBMA.org) Spring 2013 Educational Conference in Orlando, FL where a variety of issues were discussed. Of primary interest was the effect of government involvement into the business of healthcare billing.
Recognized as the most influential healthcare revenue cycle management services association, HBMA offered a variety of sessions on important issues in medical billing ranging from ACOs and ICD-10 Readiness to Intention and Value of Health Information Exchanges (HIE) to Risk Management and Contracts.
HBMA Director of Government Affairs, Bill Finerfrock, reviewed many issues confronting the 113th Congress: what can be an expected outcome, is gridlock inevitable, sequestration, debt limit, adopting a budget, insurance market reform, entitlement and tax reform, the Independent Payment Advisory Board (IPAB), and the SGR fix.
Finerfrock revealed some of the items that were cut in the budget:
- Payment for Certain Radiology Services provision will equalize payments for stereo-tactic radio-surgery services provided under the Medicare hospital outpatient payment system. Saving $300 million.
- Adjustment of Equipment Utilization Rate for Advance Imagining Services would increase the utilization factor used in the setting of payment for imaging services in Medicare from 75% to 90%. Saving $800 million
- Increase statute of limitations for recovering over-payments from three to five years. Saving $500 million.
Finerfrock elaborated on sequestration, saying, "This is a process mandated by the Budget Control Act of 2011 because Congress failed to enact budget reductions by the end of 2011. Under sequestration, across-the-board cuts were made in virtually every area of federal spending; it is highly unlikely that across-the-board cuts will be rescinded; they are one-time and permanent."
To learn more about these issues, visit www.hbma.org or call 1.877.640.4262.
HBMA is a key stakeholder in a $38 billion physician RCM industry, and represents more than 30,000 employees at well over 700 third-party medical billing firms. Annually, HBMA companies submit more than 350 million initial claims on behalf of hospital and office-based physicians and other allied healthcare providers. The only trade association representing the interests of medical billers in Washington D.C., HBMA works with legislative stakeholders and federal agencies to improve the business of medical billing and the practice of healthcare. A non-profit, member-led trade association, HBMA is celebrating its twentieth year.
SOURCE Healthcare Billing & Management Association