It has been quite a while in healthcare since we have seen any IPOs or public offerings, but Emdeon announced their offerings today.  The company is located in Tennessee and has a multitude of services they offer either directly or through channel connected partners and on the website they state they have around 600 partners.

We see a couple familiar names, such as Goldman Sachs on the list handling the account.   As well as providers and payers, they also offer business intelligence and reporting information to pharmacies to help find weak links and assist in maximizing the investment dollar.

NASHVILLE, Tenn., July 28 /PRNewswire/ — Emdeon Inc. (the “Company”) today announced the launch of its initial public offering in the United States of 21,450,000 shares of its Class A common stock. Of the shares being offered, 10,725,000 are being offered by the Company and 10,725,000 are being offered by selling stockholders. The initial public offering price is expected to be between $13.50 and $15.50 per share of Class A common stock.

Morgan Stanley, Goldman, Sachs & Co., UBS Investment Bank and Barclays Capital will act as book- running managers of the offering.

http://emdeon.mediaroom.com/index.php?s=43&item=45

 The news of Michael Jackson’s death has touched everyone in one way or another.  TMZ is reporting that the billing data may be what authorities need to find the physicians who supplied some of the drugs suspected to have been involved with the performer’s untimely death.  We all might guess that Mr. Jackson could have paid cash, but there are the DEA tracking numbers that will go back to the physician.  Also, it was noted that perhaps prescriptions were created for pseudo patients or perhaps other individuals who would in turn give the prescriptions to him, so if they were billed to any insurance companies and the names match, this could also lead investigators to locate additional information as well.  It may be a while before all of this shakes out.

Billing software and medical records appear to have the potential to help unravel where some of the drugs in question originated and which physician(s) were involved.
Many doctors — especially ones with big practices — use medical software systems from MD Systems, NexTech and other companies. These companies provide the software that makes it easy to input billing data.

 Bottom line — the basic billing information will not go away.

http://www.tmz.com/2009/07/05/michael-jackson-doctors-propofol-drugs-billing/

Will be ever see simplified billing in healthcare?   The survey has some responses of interest that are somewhat surprising.  especially in the area of claims that are denied with more than 60% being ultimately paid by the insurance companies, which seems to indicate the appeal process is taking a potential amount of administrative time for a payment outcome.

LAGUNA BEACH, Calif.–(BUSINESS WIRE)–The Healthcare Billing & Management Association (HBMA), a non-profit educational resource and advocacy group representing third-party medical billers and billing professionals, announced today that it presented member survey findings to executives of America’s Health Insurance Plans (AHIP) at Institute 2009 in San Diego, Calif. in June. Presenting on behalf of HBMA member organizations, representatives discussed ways in which billing services and commercial payers can better work together to manage claims processing and related transactions more efficiently and effectively.

“HBMA is committed to its ongoing outreach efforts and is focused on securing cost reductions that will ultimately benefit all stakeholders, including payers, providers and patients,” says Brad Lund, HBMA executive director. “As part of HBMA’s efforts, we will also be reaching out to individual health insurance companies to identify practical administrative simplification solutions.”

In addition to identifying opportunities to drive down costs and produce administrative efficiencies, the following survey highlights were presented:

• 46 percent of member firms reported that fewer than 60 percent of insurance companies transmit denial information using HIPAA-standard codes
• 68 percent of member firms reported that 60 percent or more of all denials are ultimately paid by the insurance company after appeal or intervention
• 69 percent of member firms reported that cumbersome protocol for filing appeals is the most challenging aspect of handling claim denials

“Based on feedback from our members, HBMA has a solid understanding about what specific measures could impact administrative costs for the benefit of both providers and health plans,” says Sherri Dumford, an HBMA past president and the residing chair of HBMA’s Commercial Payer Relations Committee. “We appreciate the opportunity to share our findings, and we were pleased to find common ground in our efforts to enhance our nation’s healthcare system.”

Through the reciprocal exchange of ideas and coordinated efforts, HBMA collaborates with a broad range of leading industry associations including the American Medical Association, Blue Cross Blue Shield Association, CAQH, Cooperative Exchange, Emergency Department Practice Management Association, Medical Group Management Association, Radiology Business Management Association, Workgroup for Electronic Data Interchange and others.

About HBMA

A non-profit, member-led trade association, the Healthcare Billing & Management Association (HBMA) represents more than 30,000 employees at well over 650 third-party medical billing firms. Annually, HBMA companies submit more than 350 million initial claims on behalf of hospital-based physicians, office-based physicians and other allied healthcare providers. Founded in 1993, HBMA and its members foster personal development, advocate on the behalf of the profession, and promote cooperation through a wide range of business resources, educational events, networking opportunities, certification programs and adherence to the Medical Biller’s Code of Ethics. As the only trade association representing the interests of medical billers in Washington D.C., HBMA works with legislative stakeholders and federal agencies to improve the business of medical billing and the practice of healthcare. Learn more about how HBMA is elevating the medical billing profession at www.hbma.org.