This article has been updated on January 5, 2023. Back in August 2022, CMS was proposing changes to the Medicare Bad Debt listing template that is filed with your organization’s cost report. The new template (Exhibit 2A) has recently been finalized by Medicare and is now required for cost reporting periods beginning on or after […]
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In response to the COVID-19 pandemic, neurosurgery practices across the United States are looking for creative ways to remain independent in private practice while ensuring they meet the needs of the neurosurgical care demand within their communities. Physician owners, partners, and private practice executives often wonder whether a diagnostic “biopsy” of their practice can be […]
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The Centers for Medicare & Medicaid Services (CMS) operates within a budget neutral approach. This occurs at the same time the healthcare community continues to try and find balance between reducing administrative burdens, accurately recognizing and recording services provided, and upholding the highest quality care possible. Over the last three years, there have been significant […]
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For years, Blue & Co. has received questions from hospitals regarding coding and billing for infusions, as well as documentation requirements. Infusion coding can be some of the most difficult coding for hospitals. It takes a certain understanding of 1) the required hierarchy, 2) what happens if a stop time is not recorded, 3) how […]
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In a post-pandemic environment, providers are more likely to refer patients for procedures, diagnostic testing, and physician visits to non-hospital environments. This presents an opportunity for healthcare leaders to re-exam their growth strategies and develop structure to define the market opportunity, redefine access as defined by providers and customers, and leverage data to prevent leakage […]
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A recent Blue & Co. audit of a small hospital’s existing Managed Care contracts yielded an unfortunate surprise: a nearly twenty-year-old contract with a major insurance company with rates that had not been updated since the original effective date. Not so surprisingly, these rates were woefully inadequate – reflecting a commercial rate that was only […]
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In 2019 patient medical debt in the U.S. totaled at least $195 billion, according to an analysis by the Kaiser Family Foundation, a nonprofit organization focusing on national health issues. This is a massive figure and should be looked at as an opportunity for healthcare organizations. A survey conducted by Kaufman Hall in August 2020 […]
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One of the most challenging conversations in any multi-physician practice or specialty-based hospital employed group is about how to create a fair distribution of on-call and/or inpatient hospital service coverage while balancing the duties of an outpatient practice. The COVID-19 pandemic has contributed to clinician burnout, and physicians and Advanced Practice Providers (APPs) place significant […]
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“There may be no faster death of a great idea or business than a dysfunctional team”, said Daniel Newman from Principal Analyst of Futurum Research and the CEO of Broadsuite Media Group. Over the last 15 years, hospitals have acquired or employed clinicians and other ambulatory services. Unfortunately, not all employment arrangements are part of […]
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Elective surgical practices have suffered significantly since the beginning of the COVID-19 pandemic. Patients seeking elective surgical treatment had their procedures postponed or canceled as hospital systems were striving to preserve bed capacity in anticipation of or in response to a spike in COVID-19 related admissions. Private practices and hospital systems alike lost incredible amounts […]
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By Cory Schunemann, CPA, Manager at Blue & Co. Indiana’s 2023 Senate Enrolled Act (SEA) 417 made another change to the sales tax collection requirements for not-for-profits after 2022’s SEA 382. Not-for-profits with taxable retail sales in excess of $100,000 in the current or prior year are now required to collect and remit sales tax. […]
By Amy Sandlin, CPA, Tax Senior Manager at Blue & Co. On Thursday, Sept. 14, the IRS announced a moratorium on processing of new Employee Retention Credit (“ERC”) claims through at least December 31, 2023. This decision is in response to a flood of questionable claims and trusted tax advisors expressing a slew of concerns […]
The new Medicare Bad Debt template (Exhibit 2A) and S-10 template (Exhibit 3B and 3C) have been finalized by Medicare and are now required for cost reporting periods ending on or after September 30, 2023. This deadline is quickly approaching, and Blue & Co. wants to be sure you are prepared. If you are feeling […]
