Medicare will be making some changes to it's medical equipment request program in hopes, they say, to reduce questionable medical claims. "Critics say the new policy will bog down the process for getting oxygen, power wheelchairs and a variety of other supplies to patients – items they need to keep from being readmitted to the hospital. But citing years of abuse from inflated claims, Medicare anticipates savings from the initiative of $10 million in 2016, rising to $100 million by 2025, without hurting patient care..." [ Read more here ]
The global medical equipment rental market is said to be looking at a projected increase from $33,417.4 million posted in 2013, to $49,112.8 million by 2020. "A recent market report published by Transparency Market Research based on the global medical equipment rental market forecasts that the industry is expected to reach US$49,112.8 million in 2020, expanding at a CAGR of 5.8% during the forecast period from 2014 to 2020..." [ Read the story here ]
"The home health care market is rapidly changing. The Affordable Care Act and competitive bidding have brought new regulatory challenges to the HME/DME marketplace. The pressure to compete has driven many small dealers out of business—and driven others to the top of their game through focusing on cash sales..." [ Read the story here ] Are you looking for help navigating the ever changing health care market? Noble House's - Noble*Direct medical billing software can save you time and money, streamlining your business.
With the upcoming ICD-10 switch from ICD-9, some have worried that a potential government shutdown in the United States would once again still our upgrade to the ICD-10 coding system. Thursday, CMS officials announced that the ICD-10 switch would continue regardless of a potential government shutdown. CMS's Patrick Conway stated, "In the event of a shutdown, we will continue -- and I want to be clear on this -- to pay claims, to implement the ICD-10 transition." [Read the story here ]
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