Wednesday, July 11, 2012
eBilling for workers' comp claims saves time, hassles
A toolkit from the AMA guides physicians through the process of electronically billing medical claims for workers' compensation, a change that can save thousands of dollars each year.
A variety of resources help physicians evaluate their current practice workflows, start conversations with clearinghouses and billing services, and identify questions to ask payers before making the transition. Archived webinars presented by workers' compensation eBilling experts walk physicians through each step of the process.
The toolkit also features a basic listing of some of the many vendors that offer workers' compensation eBilling solutions and state-specific information about medical reporting, billing and other requirements.
Among other benefits, eBilling for workers' compensation claims can decrease administrative costs, enable timely updates on the status of claims and speed up payments.
Pondering a shared savings program? AMA offers advice
A new chapter in the AMA's "Evaluating and negotiating emerging payment models" manual provides practical guidance for physicians who are thinking about participating in a shared savings program.
The chapter explains the methodologies behind shared savings programs and what physicians must find out before they agree to participate. The chapter helps physicians evaluate their ability to succeed in such a program and identifies a number of existing shared savings programs in the public and private sectors.
Physicians who are interested in taking part in this risk-based payment arrangement will learn how to protect themselves from losses associated with unrealistic budget targets or high-risk patients, unfair termination and diminishing financial returns. The chapter also shows physicians how to identify ways to easily save money in their practices.
Other topics discussed in the manual include payment bundling, pay-for-performance, withholds and risk pools, and capitation. A companion webinar recording also provides an overview of each of these concepts.