In the third quarter of the 2012 federal fiscal year, Medicare Recovery Auditors (RACs) collected $657.2 million in overpayments — the highest total of any quarter since October 2009, according to CMS' quarterly RAC newsletter (pdf).
ASC Coding, Billing & Collections
Three physicians and health policy directors with Physicians for a National Health Program conducted a study on how Medicare pays private insurers, also known as Medicare Advantage plans, and they identified overpayments totaling $282.6 billion since 1985.
Pyramid Healthcare Solutions, a revenue cycle management company, has hired two senior-level executives.
A Metairie, La., physician pleaded guilty to the U.S. Attorney's Office for fraudulently billing Medicare and Medicaid, according to WWLTV.
More than a quarter-million Medicare beneficiaries in Washington had their identities stolen, and the government said it won't issue new IDs, according to Press Connects.
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Juergen Fritsch, chief scientist at Franklin, Tenn.-based M*Modal, and his colleagues developed natural language understanding technology for healthcare to help computerized systems turn spoken and typed words into structured data, according to Healthcare IT News.
Bundled payments may lead to reductions in healthcare spending without affecting quality, according to a recent report by the Agency for Healthcare Research and Quality.
Treating those with traumatic injuries costs $67.3 billion annually, and costs continue to rise, according to the Austin Statesman.
The electronic health record vendor Allscripts may be looking for a buyer, according to Healthcare Finance News.
Warren, N.J.-based AdvantEdge Healthcare Solutions has released its InfoEdgeBI platform to assist with hospital billing and coding.