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Hospital Billing & Insurance Terms Value Healthcare Services

WEBHCFA/CMS 1500 — The billing form used by doctors to file insurance claims for medical services. HCPCS codes – HCFA Common Procedural Coding System — The coding …

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URL: http://valuehealthcareservices.com/education/hospital-billing-insurance-terms/

What is Uncompensated Care

WEBIn short, the term refers to patients who are unable or unwilling to pay for health care services. Uncompensated care is comprised of both charity care and bad debt. The …

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What is a Diagnosis-Related Group (DRG)

WEBMedicare’s Cost-Saving Plan for Hospitals. A Diagnosis-Related Group, abbreviated as DRG, is a system of classifying a patient’s hospital stay into various groups in order to …

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What Does APC Stand For

WEBAPC stands for Medicare’s Ambulatory Payment Classification, the coding system that hospitals use to bill the federal government for services provide to Medicare and …

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Birthday Rule: What does this insurance term mean

WEBBasics of The Birthday Rule. The primary insurance for a child is the same as the parent with the earliest birthday on the calendar. A birthday is defined solely as the month and …

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11 Hospitals that Filed for Bankruptcy in 2013 Value Healthcare …

WEBTake a closer look at the 11 hospitals across the country that filed for bankruptcy in 2013. They include public & private hospitals, big and small alike.

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Medical bankruptcy: Fact or fiction

WEBBy Sally C. Pipes, president, Pacific Research Institute – 10/23/12 11:30 AM ET. This year, a whopping 1.25 million Americans are expected to file for bankruptcy.

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What is a Medicare Severity-Diagnosis Related Group (MS-DRG)

WEBA Medicare Severity-Diagnosis Related Group (MS-DRG) is a system of classifying a Medicare patient’s hospital stay into various groups in order to facilitate payment of …

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Monroe Hospital Sold to Prime Healthcare Services

WEBIn its aim to establish a large network of efficiently run hospitals, Prime Healthcare Services has bought the Monroe Hospital of Bloomington, Indiana. Only several months after …

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North Adams Hospital Files for Bankruptcy Value Healthcare …

WEBNorth Adams Regional Hospital filed for Chapter 11 bankruptcy in 2011, emerging with a court-approved reorganization plan in 2012. According to a filed report, some debtors …

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Hospitals that Filed for Bankruptcy in 2015

WEBWith increased pricing in medical care, and shrinking available health networks under Obamacare, 2015 is already seeing its fair share of hospital bankruptcies. With patients …

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Hospitals That Closed in 2014 Value Healthcare Services

WEBTougher financial situations and more privatization of hospitals by government bodies have caused a siginificant amount of hospitals to close in 2014. With more patients declaring …

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Contractual Adjustment: A Hospital Billing Term

WEBThe contracted rate between the insurance company and the provider for this service is $80, with the insurer paying $64, or 80%, and the remaining 20% of the contracted rate …

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Understanding Hospital Revenue Codes Value Healthcare Services

WEB604 Oxygen-Portable Add-on. 61x Magnetic Resonance Imaging (MRI) 610 General. 611 Brain (including brain stem) 612 Spinal Cord (including spine) 619 Other MRI. 62x …

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Specialty Hospitals of America Files for Bankruptcy

WEBSpecialty Hospitals of America, a New Hampshire based nursing home and hospital conglomeration, filed Chapter 11 bankruptcy after a group of creditors filed an …

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Hospitals That Closed in 2015 Value Healthcare Services

WEB2) Cochise Regional Hospital. Following a complete cut in Medicare funding, Cochise Regional Hospital of Douglas, Arizona closed on July 31, 2015. The hospital was the …

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Doctors Medical Center Closes Value Healthcare Services

WEBFollowing years of revenue deficits in the tens of millions of dollars, Doctors Medical Center of San Pablo, California closed on April 21, 2015. This hospital served many low income …

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Monroe Hospital Files Chapter 11 Bankruptcy

WEBDebt between $100 million – $500 million. Monroe Hospital, based in Bloomington, Indiana, has filed Chapter 11 bankruptcy citing assets at between $10 million and $50 million and …

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Palm Drive Hospital Closes in Bankruptcy Value Healthcare Services

WEBSonoma Residents Lose Fight for Hospital. Palm Drive Hospital officially closed Monday, April 28, 2014 after negotiations with the Palm Drive Health Care District failed to reach …

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