Taggart Property Group Blog

Concierge healthcare may be a term that is unfamiliar to many, but that will not be the case for very long. As healthcare costs continue to rise, alternative models for people to receive care will be created, and the ones that provide patients with the best value for their money will succeed. Concierge healthcare is one of those models, and it’s worth considering for physicians that are concerned about providing excellent care. Let’s take a look at what concierge healthcare is and why it is beneficial to patients and physicians alike.

You may be surprised to know that March has more holidays and observances than just St Patrick’s Day! For instance, did you know that it is “Adopt a Rescued Guinea Pig Month?” Or National Quinoa, Peanut, Noodle, and Umbrella Month (all celebrated separately, of course)? We didn’t, either...so we thought it might be a great opportunity for everyone to learn about the various monthly observances happening in March. Even better, we looked up relevant ICD-10 codes to go with the celebrations (so if you work in the medical billing industry, feel free to log this time as OJT!). Last year, we looked at green beer and hangovers; this month, let’s see what else March has in store!

Did you know that since 1999, the number of prescription painkillers sold in the United States has quadrupled, but a similar increase has not been noticed in the number of Americans reporting pain? America has a big problem on its hands with the number of deaths that occur every year from prescription painkillers. According to the Centers for Disease Control and Prevention, 44 Americans die every day from an overdose of prescription painkillers. The most common are opioids, such as Oxycontin (oxycodone), Vicodin (hydrocodone), and methadone.

It’s a difficult and sad truth, but no business is immune to the threat of embezzlement or fraud. Embezzlement is the theft or misappropriation of funds from a business by an employee (or someone otherwise placed in a position of trust). You may think that it will never happen to you, but private medical practice is just as vulnerable as any other business - in fact, some believe that smaller businesses are at higher risk because they don’t necessarily have the resources or processes in place to double check or prevent fraudulent behavior in the first place. With that in mind, Ike Devji (JD) has compiled some red flags to watch for that may indicate fraud or embezzlement is happening. Here is what he shared with Physician’s Practice:

I recently received a medical bill in the mail (actually, a few of them!). While this may not seem like a cosmic event, it was a new experience for me, having recently gotten out of the military. For all of my adult life thus far, I hadn’t had much experience with having to pay medical bills out of pocket since everything was taken care of within the larger government healthcare system. Because of this new learning experience, I’m uniquely qualified to write on ways that private practices can improve patient collections...simply by altering their medical billing statements. Here are some things I noticed that could be improved, as well as some good practices already in place…

Happy Valentine’s Day everyone, and thanks for dropping by! Last year, Keystone Health Partners took an ICD-10 angle on love gone wrong...check out our blog about bad dates, breakups and more here! This year, we’ll take a look at ICD-10 codes that are related to the iconic symbol of love: the heart. Unfortunately, the codes related to heart conditions are a lot more serious than the codes we drummed up last year. Nonetheless, let’s take a look!

Time is an incredibly precious resource, and when you’re running a business, time is also money. But those of us in private medical practice have to juggle some different considerations than say, a retail business. We are dealing with people and their health, which is a very personal, important responsibility. Let’s take a look at some ways to improve patient workflow that honors and dignifies the patient as well as optimizing your physician and staff’s time...which is a win-win!

February is chock full of special days and observances for a smattering of random events. For instance, did you know that February 8-12 is “Random Acts of Kindness” Week? Or that February is National Bird Feeding Month, as well as Library Lover’s Month? We at Keystone Health Partners decided to take a look at ICD-10 codes for some of the daily, monthly, and weekly observances for the second month of the year. Let’s get started!

American Heart Month: Hearts are iconic symbols of love, so we wrote an entire blog devoted to ICD-10 codes about them...check it out next week! But besides reading about all the serious conditions that can happen to your heart, we also advise eating a healthy diet, getting enough sleep, and engaging in exercise to keep your own heart healthy and strong!

Is your private medical practice familiar with sending an account to collections? In the age of higher deductible plans and the Affordable Care Act, patients are on the hook for more and more of their health care costs. Unfortunately, this can have a negative effect for private practice in the cases where patients cannot or will not pay. In that light, let’s take a quick look at how the collections process works, tips to implement, and applicable Florida law.

The ICD-10 transition has been smoother than many have expected. Although coder productivity is predictably down as technicians adjust to the new standards, denials have stayed virtually constant. Here is a look at the first month under the new ICD-10 coding standard from the Centers for Medicare and Medicaid Services: