PROUDLY SERVING CENTRAL FLORIDA
February 2017 > $5
Medical Practices Facing Woeful Collection Rates Developing Defined Revenue Strategy Can be Key to Flourishing By pL JETER
Based on an average physician practice submitting 83 claims daily, industry collection statistics are sobering: multispecialty practices collect only slightly more than half of accounts receivable within 30 days. Up to two-thirds of physician practice revenue is lost because of billing leakage. More to the point, a full 30 percent of claims are denied (or ignored) on first submission. Of those claims, 60 percent were never resubmitted, per the Center for Medicare & Medicaid Services (CMS).
It doesn’t help to learn that 42 percent of claims are coded incorrectly, per a recent U.S. Department of Health & Human Services (DHHS) study. “It’s estimated that doctors in the U.S. leave approximately $125 billion on the table each year due to poor billing practices,” said Leidy Arguelles, CPC, CPMA, revenue cycle operations manager at Florida-based Bravado Health, pointing out that practices should have a target of 5 percent of claims with (CONTINUED ON PAGE 6)
TO ACCESS A FREE EDUCATIONAL WEBINAR ON MIPS, VISIT WWW.BRAVADOHEALTH.COM/ MIPS-WEBINAR-2016/
ON ROUNDS
PHYSICIAN SPOTLIGHT
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Edward J. Gross, MD
HEALTHCARE LEADER PAGE 4
Jeffrey J. Lehman, MD CAPI 2017 President Addresses Philanthropic Goals New Philanthropy Committee Reflects Patange’s Principles; Streamlines the Charitable Process ... 8
HEALTH INNOVATORS Five Simple Ways to Invest in Today’s Health Tech How the Lake Nona Impact Forum 2017 Can Change Orlando’s Health Innovation ... 11
ONLINE: ORLANDO MEDICAL NEWS.COM
Florida Hospital Radiology Residency Program Delivering Outstanding Graduates By pL JETER
Last year, Florida Hospital’s diagnostic radiology residency program graduated its first class, with all four MDs earning a 100
percent first-time Boards pass rate. “Our goal is to have the residents become confident in the interpretation of a wide range of imaging, and become facile with image-guided procedures,” said Laura
W. Bancroft, MD, radiology residency program director, chief of musculoskeletal imaging of Florida Hospital Orlando, radiology professor at Florida State University College of Medicine, the Department Chair (CONTINUED ON PAGE 6)
Michele Borton Martin, RN, MA was unexpectedly taken from this earth; Tuesday, January 17th. She was a loving wife, mother, nurse and Marketing Director at Vascular Vein Centers. The pure example of LOVE. Remember Michele by assisting future nurses FULFILL their dreams.
Support the Michele B Martin Nursing Scholarship Go to www.gofundme.com/Michele-b-martins-scholarship
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