BC Advantage - 2014 Issue 3

Healthcare Reform and ICD-10 Transition-A Double Whammy on Revenue

The healthcare industry is undergoing an extraordinary transformation with the implementation of the Affordable Care Act and the Transition to ICD-10. Talk about "a double whammy"!  Healthcare providers, practice managers, and billing staff should expect to see dramatic impacts to revenue, insurance reimbursement, and patient collections.In fact, it is predicted that providers will face up to a 25 percent decline in revenue over the next five to ten years due to reductions in reimbursement in an ever changing healthcare marketplace. Existing fee for service models will continue to decrease as a percentage of practice revenue while value...

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