August 29, 2014
Historically, hospital revenue has grown at a rate of 7 percent. However, results of a recent study performed by Moody’s Investors Service found that in 2013, revenue only grew by 3.9 percent.
Moody’s posited that the popularity of high-deductible health plans and the increased likelihood of postponing care or use of lower cost retail clinics are likely culprits. The researchers also suggested that recent Medicare cuts are another contributor.
With expenses growing faster than revenue, hospitals are in a tough position.
The Centers for Medicare and Medicaid Services (CMS) announced three different testing weeks leading up to the implementation date for ICD-10.
The testing intends to validate providers’ ability to meet “technical compliance and performance processing standards” during implementation.
For details on testing and provider participation, visit the CMS website.
The Department of Defense (DoD) has issued a formal request for proposals for its multi-billion dollar EHR modernization project.
The DoD is aiming to select the winner in Q3 of fiscal 2015. It plans to have the final, modernized systems in place by the end of 2016.
The DoD’s modernization efforts are focused on replacing its legacy health care systems to replace its legacy healthcare systems. Once completed, the Defense Healthcare Management System Modernization (DHMSM) project will aim to support medical readiness for DoD’s military personnel and support the department’s current population of more than 9.6 million beneficiaries and over 153,000 Military Health System personnel.