CMS (Centers for Medicare and Medicaid Services) implemented the 2-Midnight Rule for inpatient hospital admissions effective October 1, 2013. Although, the 2-Midnight Rule went into effect on October 1, 2013, CMS is delaying a post-payment review for claims with dates of service between October 1, 2013 through March 31, 2014.
The 2-Midnight Rule does not change any other rules or guidelines for billing Medicare inpatient hospital admissions claims, it simply clarifies when physicians should decide a patient will be admitted for an inpatient stay. Read more here
Its Patient Safety Awareness Week and this year's theme is "Navigate Your Health...Safely." To find out more about, visit jointcommission.org.
The Department of Health and Human Services (HHS) has extended the comment period for the proposed rule, "Administrative Simplification: Health Plan Certification of Compliance." HHS is specifically looking to receive additional comments from third party administrators (TPAs) and self-insured plans.
The goal of the extension of the comment period is to provide these entities with time to understand and offer feedback on the business impacts of the Certification of Compliance proposed rule. HHS encourages these entities to submit feedback so that their comments and suggestions can be considered during the policy-making process. For more information go to federalregister.gov.
Financial management refers to the day-to-day operations as well as the long term direction of the medical office. There are various components of financial management from setting prices to controlling costs to accounts receivable management.
A successful medical office depends on how well the organization understands the importance and purpose of financial management. Read more about managing financial procedures.