The medical transcription factoring specialists at PRN Funding came across a piece of research that we believe is important to share with our Medical Transcription Industry readers.

While the medical transcription invoice funding experts at PRN Funding don’t necessarily agree with all of the conclusions of the cover story, it is thought provoking and definitely an issue that all MTSOs are addressing in the present and in the near future.

Click here to read the article: An Uncertain Future.

As an aside, the results of the study referenced in the article are a “must read” for every MTSO.  AHDI provided a good synopsis of Speech Recognition Errors here: Speech Recognition  Error Rate 800% Greater Than Transcribed Dictation.

Healthcare staffing payroll factoring is the conversion of accounts receivable into cash by selling outstanding invoices to a factor at a discount.

It’s a practical option for healthcare staffing agencies that are unable to qualify for traditional bank financing in the early stages of business development. Moreover, healthcare staffing payroll factoring is a great alternative financing option for agencies going through rapid growth. Specifically, healthcare staffing payroll factoring is a financial solution that gives agencies immediate cash to help manage operations more efficiently.

Click here to read some additional key concepts about healthcare staffing payroll factoring.

Attendees are set to speak with key legislative officials and staff about the medial transcription industry’s critical role in healthcare delivery at Advocacy Summit 2011 is set for May 3-4 in Washington DC.

According to the official MTIA Blog, Advocacy Summit 2011 attendees will receive the following:

• Orientation and training on effective lobbying techniques
• Appointment scheduling services for legislative meetings
• Materials to convey a clear, concise, and powerful message
• AHDI/MTIA staff assistance every step of the way

Additional events are scheduled at the Georgetown University Hotel and Conference Center.

Download Registration Form
Register Online - Full Registration
Register Online - Day Tripper Package

The Hotel
Georgetown University Hotel and Conference Center
3800 Reservoir Rd NW
Washington, DC 20057
Phone: 202-687-3200

The Georgetown University Hotel and Conference center is nestled among the buildings of the university campus in one of the most historic Washington, DC, neighborhoods. Complimentary transportation to two nearby metros—Dupont Circle and Rosslyn—are available along with abundant shopping and restaurants right around the corner in the heart of Georgetown. Single- and double-occupancy rooms for AHDI/MTIA Advocacy Summit attendees are $189 per night.

Online reservations
Reserve by Phone: 1-888-324-2111 (mention you are with AHDI/MTIA)

Room-Sharing Program
Advocacy Summit attendees interested in sharing hotel room costs at Georgetown University Hotel and Conference Center may contact Miranda Youkhaneh at myoukhaneh@mtia.com or 800.982.2182 for roommate pairing.

For more details and updated information, visit Advocacy Summit 2011 at www.mtia.com/AdvocacySummit.cfm.

The American Academy of Professional Coders (AAPC) is asking for speaking commitments from payers, providers, and administrators in the coding industry.  Online applications are currently being accepted through September 20.  The organization is looking for speakers to discuss the latest trends in health care and current topics within the industry. 

A list of sample topics can be found on the AAPC website.  Selected speakers will be notified by email by November 20. 

The 18^th national conference, which will be held in Nashville, TN from June 6-9, will feature 45 educational sessions and more than 70 exhibitors. 

To learn more about the program, click here: AAPC Issues Call for Speakers for 2010 National Conference

Back in March, the factoring blog posted about the nursing shortage in New York City.  Now, Senator Kirsten Gillibrand (D-NY) is warning Americans that in conjunction with the health care crisis, an imminent nursing shortage is upon us as a nation.  There cannot be health care reform without more nurses in the health care system.  Luckily for New Yorkers and Americans, Senator Gillibrand is taking on this issue.

The main reason for the sudden scarcity is due to many nurses getting ready for retirement.  In Brooklyn and Queens, 19% of the nurses are over the age of 55 and will be ready to retire over the next ten years.  New York City alone will need about 60,000 more nurses over the next ten years if it wants to sustain a quality health care system.   

Another problem is the nursing education system.  Qualified applicants are being denied entry into nursing programs across the country due to limited classroom space and insufficient number of faculty.  The College of Staten Island in Staten Island only accepted 125 out of 400 applicants.  While the rejection pool includes unqualified students, a good number of worthy prospects still remains. 

Senator Gillibrand has plans to circumvent this potential disaster.  To increase nursing faculty, she plans to offer 100% loan repayment to nurses who complete a nursing program and choose to come back and teach at nursing institutions.  In addition, she plans to give out grants to nursing education programs so that they can accept more students.  Lastly, she wants to incentivise nurses to insert themselves into poorer areas of New York. 

President Obama has already helped Senator Gillibrand’s third task; part of Obama’s stimulus package included a $300 million grant to the National Health Service Corps, an organization that recruits nurses.

Click here to read the entire article: New York’s Nursing Shortage (Sen. Kirsten Gillibrand)

As President Obama advocates for a health care system overhaul, many Americans are questioning how it will function as well as how the country will pay for it.  The Wall Street Journal’s Health Blog profiled Obama’s televised town hall meeting on ABC last week to try and explain his plans in more detail. 

The President assured Americans that the government will not force them to switch doctors or health insurance plans.  Also, private companies will still be able to choose different plans for their employees on their own.  However, critics argue that given a cheaper government option, most businesses will jump ship from private insurance companies. 

Health insurance companies feel threatened by the proposal, stating that a government program would put them out of business.  Obama responded to these concerns by admitting he wasn’t sure a government plan would be included in his final proposal. 

Additionally, Obama explained that the funding for his health care system would either come from lowering the amount that wealthy Americans can deduct on their taxes or from taxing health benefits. Regardless of how he accomplishes this, many wonder if Obama will be the first president to solve the problem of uninsured Americans. 

Little is known right now about how President Obama’s healthcare reform will affect healthcare vendors like medical billing and coding companies and/or temporary nurse staffing agencies. They will have to wait patiently to see how the President’s changes will affect them. 

To read the entire Wall Street Journal Blog article, click here: Separating Fact from Fiction on Health-Care Reform

To view a clip of the town hall meeting, click here: President Obama Defends Right to Choose Best Care

For a full transcript of the meeting, click here: Questions for the President: Prescription for America