Out of various specialties within the healthcare industry, Geriatric care is a specialty that focuses on diseases of aging and issues that arise with the growing age. A geriatric specialist is called a geriatrician. He usually treats people over the age of 60. The prime focus is to understand the impact of medical conditions and medications on older adults. Medical care is complex and with the increase in age, the complexities also tend to increase. A geriatrician also has to explain how different medical conditions impact one another.
When you are treating the most elderly patients, it is important that you exhibit multiple chronic conditions and impart special care. This adds up to the challenges of geriatric medical billing and coding. What adds up to the complexities is the insurance expansion, reimbursement changes, and adjustments to care delivery. Taking care of the administrative burden can’t be ignored in the name of imparting quality patient care. It is equally important to take care of the revenue cycle management in order to keep the healthcare practice functioning.
Smart Geriatric Care Medical Billing Services like Eminence RCM provide timely and affordable solutions to your Geriatric billing needs. The experts work dedicatedly to help you address the challenges effectively and achieve maximum reimbursement from your Geriatric practice.
By the year 2030, the expected population of geriatrics will be about 19.7 percent of the total population. This is the data as per the Bureau of Labor Statistics. When such projections are done, it automatically becomes clear that geriatricians and health care providers are definitely going to face the increasing number of elderly patients and the workload will increase in the near future. In the present scenario also, geriatric practice faces various challenges that range from core care issues to pecuniary concerns.
One of the major concerns for the Geriatricians and elder population of the country is the Medicare cuts to cover the Federal Deficit. The cuts that are scheduled to take place on a certain date can be extended many times, but you can’t avoid them completely. They are inevitable in the near future.
Along with the increasing population of baby boomers and the elderly in the country combined with the cuts in Medicare means that many physicians would be ultimately forced to drop Medicare patients. Even today, there is no clear solution to the problem of Medicare cuts, but one thing is clear that these cuts are definitely going to impact the elderly population in the country and providers’ revenue in the coming future.
Baby boomers are a major segment of the people who require geriatric care in the country. According to the U.S. Census Bureau, 18% of the population in the country is above 60 years of age. In the year 2030, the total population of the country in this section is going to increase by almost 68. This will bring immense pressure on resources, including health care and geriatric medicine. To exaggerate the situation, scarcity of medical students who choose to practice geriatrics is another added problem. This adds up to the hurdles faced by the elderly and by physicians in the future. Even after all this workload, what worsens the situation is the fact that geriatrics as a profession is not even mentioned on the Bureau of Labor Statistics website. Therefore, there is a huge scarcity of dedicated geriatric physicians in the country.
One of the most complex issues for Geriatricians is to achieve meaningful use in geriatric medicine. This issue is faced by physicians treating elderly patients and geriatricians. When it comes to Electronic Medical Records (EMRs) and Electronic Health Records (EHRs), the American Geriatric Society has submitted a letter to the Center for Medicare and Medicaid Services (CMS), It was regarding the problems faced by geriatricians.
The biggest barrier to building the geriatrician supply was low reimbursements. The hurdles in Geriatric Care medical billing arise due to the fact that most elderly patients have multiple chronic conditions. The type of care that is provided is unique and not traditional in nature.
As per the American Geriatrics Society limited efforts are being made to improve geriatrics training for medical students.
All the challenges in Geriatric Care medical billing need to be addressed and resolved timely in order to maintain a smooth cash flow and keep the administrative burden of the healthcare practice in check. Therefore, the first step to resolve the complexities of healthcare practice is to deeply understand them.
The first and the foremost thing to consider is that Geriatric care is diverse, complex, and deeply personal form of healthcare specialty. When you connect to an expert Geriatric Care Medical Billing Service provider like Eminence RCM, the first step is always to grasp every aspect of your practice. By diving deep into the services, you offer and the patients you serve and your medical billing partner craft strategies that resonate with your goals. This ensures that the medical billing solutions are a perfect fit for your practice.
It can be a daunting process to navigate the maze of claim submissions. However, the process can be made simpler with professional help of medical billing and coding experts. From the initial submission to proactive follow-ups, the professionals are with you at every step. This ensures that each claim is accurate, timely and maximizes your reimbursement potential.
The world of elderly care is ever evolving. Professionals in the world of providing Geriatric Care Medical Billing Services need to stay alert. Every Geriatric practice must understand that the healthcare changes and billing get more complex. The professionals check and improve your payment processes to keep them strong and flexible. As elderly care billing changes, you must have methods to match.
For a strong revenue cycle management, open and honest talk is vital at every stage. When you have a proper revenue cycle management plan by your side, it is made sure that you stay updated. On top of that you'll always know how your practice finances are doing. Experts like Eminence RCM work closely with you and ensure trust through clear communication.
You must have a clear overview of the entire payment details and understand the collections through various payers. The team you choose must be able to skillfully handle the recording and checking of your incoming payments. Close attention must be paid to each transaction, providing clear and straightforward reports that give you a clear picture of your geriatric practice's financial situation.
Therefore, it can be said that getting professional help for your Geriatric Billing can help you improve your revenue cycle management. As a geriatrician, you see patients who have a range of health issues, such as chronic conditions and degenerative diseases like Alzheimer’s on a daily basis. Dealing with billing for chronic care management and other complex issues can be time-consuming and adds up to the administrative burden.
An experienced medical billing and revenue cycle management partner like Eminence RCM can help you to maximize your time with patients, reducing compliance issues, and increasing your revenue in the long run.
Taking care of the entire medical billing process demands extra care regarding all the details. When you have a trusted medical billing partner by your side, you can trust the experts to handle all the information and paperwork. This eliminates all the flaws. The team of professionals understands the unique requirements of elder care which ensures to keep accurate records of every service.