Halloween is just around the corner, and October started out with some pretty scary stuff. 2019 has already been a particularly terrifying year when it comes to ransomware attacks. Depending on how long you have been following this blog, you may recall the so-called “Ransomware Explosion” of 2016. At that time, five healthcare organizations were hit by ransomware attacks in a single month and the FBI reported a record 321 attacks in a period of only nine months, totaling $57 million in ransom payments.

The Centers for Medicare & Medicaid services (CMS), Centers for Disease Control and Prevention (CDC) and National Center for Health Statistics (NCHS) jointly released the official ICD-10 code changes for fiscal year (FY) 2020. This is the fourth such update to occur since ICD-10 was first officially implemented in the U.S. back in October of 2015. These code changes will go into immediate effect as of Tuesday, October 1, 2019. However, it is important to note that any claims with earlier service dates (on or before September 30, 2019) must continue to use the codes from FY2019.

In today's consumer-driven healthcare marketplace, specialty practices must do more than just treat patients. By promoting practice expertise in the community, setting yourself apart from competitors and clearly articulating how well you meet customer needs, you can create a marketing strategy that allows your practice to reach new heights.

When specialty practices expand their operations, they often run into challenges as they work to capture market share, bring in new physicians and increase revenue. The most successful organizations do some upfront planning as part of their expansion strategies to anticipate and address possible hiccups. Here are three tactics to keep in mind during planning to sidestep common growing pains.

As highlighted in our previous blog, bringing innovation that constantly seeks to be more effective while holding patients at the center of the care experience is a key factor in a successful practice; something that Nextech user, Colorado Retina Associates has been able to achieve. Although the idea of transforming your practice into a forward-thinking, high-achieving entity may seem daunting, these goals are closer than you may realize. Here are a few ways you can apply some of Colorado Retina’s philosophy and passion to take your practice to the next level.

Driven by a growing need for change, in 2007 three prominent retina practices in the Denver metropolitan area merged to form Colorado Retina Associates (CRA)—the largest retina practice in the Rocky Mountain Region with six locations, including two satellite offices in Kansas and South Dakota. The impetus for the merger was to maintain a strong and progressive organization and effectively compete in an increasingly managed care marketplace; focusing on treating several ocular conditions. This includes macular degeneration, diabetic retinopathy, retinal detachment, eye tumors and uveitis.

As specialty practices begin to embrace value-based care models, many providers are considering technology that allows them to better capture information about the patient encounter, streamline financial operations and meet reporting requirements. Although this is a smart strategy, practices must be careful to not just bolt on solutions that operate in silos. Instead, they should look for technology that seamlessly integrates with other solutions, facilitating information exchange, enabling smoother processes and limiting the likelihood that key information will slip through the cracks.

A solid reputation is a key part of any sound marketing strategy. Favorable impressions and positive word of mouth can go a long way in attracting new patients and driving referrals—particularly for specialty practices. One method for boosting a practice’s reputation is to cultivate happy patients. Engaging in your patients’ care, along with positive clinical and financial experiences, they are more likely to return and even share opinions with friends and family.