Revenue Cycle News Update – July 25, 2019
This regular feature showcases the most vital recent news stories in healthcare IT and revenue cycle management.
Here are the top stories since our last news roundup, as well as what you’ll need to know in the next few weeks.
Medicare / Medicaid News
Seema Verma opposes Medicare for All and single payer proposals, but outlined a different vision for lowering healthcare costs. According to Vema, this includes competition in the healthcare industry through Medicare reimbursement reform.
Participation in the shared savings program declined overall, however 48% of ACOs are taking on downside risk compared to 18% in 2018.
Private Payer News
The Lower Health Care Costs Act aims to eliminate surprise medical billing by setting reimbursement benchmarks for out-of-network care, meaning payers would only have to pay the local median in-network rate for the services.
As high deductible plans become more common, patients are taking on more out-of-pocket costs. Providers who invest in improving the patient experience and eliminating financial surprises reap significant benefits.
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