Medical Pay Solutions Speaks at Penn University about ICD-10 Financial Impact
Press Release Distribution Newswire
May 10, 2013
Anthony Wunsh, President and CEO of Medical Pay Solutions was a key note speaker at an event sponsored by the American Association of Physicians and Surgeons and Docs4patientcare in Philadelphia at Penn University.
The April 20, 2013 event focused on management of certification, the financial challenges currently in medical operations and the looming concerns regarding the conversion to ICD-10 and Health Insurance Exchange and the affects these two events will have on cash flow and expenses for doctors in private practice.
Mr. Wunsh spoke to the business aspects of these events and demonstrated the radical effect on operations they will have.
Said, Wunsh, “these two events have the potential to cripple private practices, ICD-10 will interrupt payer cash flow through increased claim denial for an extended period of time and the health insurance exchanges will carry a high deductible for a group of patients who have demonstrated in the past they could not or would not pay a monthly premium”.
Wunsh went on to say “Our concern is the fact that today 49% of all dollars billed to patients goes uncollected already. What happens when we add 30 million higher risk payers (patients) with a $2,500 deductible”. He further said “The lack of ability to collect and the interruption of insurance payments will have a devastating effect on private practice healthcare professionals”.
In attendance were physicians from the Association of American Physicians and Surgeons, the largest representative of doctors in private practice in the nation and Docs4PatientCare, an organization of doctors looking for alternative ways to offer quality care to patients.
About Medical Pay Solutions
Formed in 2009, Medical Pay Solutions is a national healthcare revenue management consulting firm that specializes in increasing revenue and profitability for medical practices, clinics and hospitals. Medical Pay Solutions is dedicated to helping patients and health care providers resolve the issues associated with rising health care costs and patient pay sector losses. For more information, visit www.medicalpaysolutions.com or call (386) 492-6174.
SOURCE: Medical Pay Solutions
Visit http://www.MedicalPaySolutions.com/ for more information.
Organization: Medical Pay Solutions
Contact: Beverly Nevard, COO
Phone: (386) 482-6174
We are not a billing company.