How Will the New Center for Medicare and Medicaid (CMS) Fees Affect Your Medical Practice?

 

Due to the Sequestration, there are mandatory changes that will be taking place on April 1st of this year.   In a March 8, 2013 CMS bulletin, they go into detail regarding just what is involved.  Novitas Solutions also provides a Frequently Asked Questions regarding how the sequestration will be implemented.  More information about Medicare changes can be found here:

CMS 3/8/13 Bulletin

Novitas Sequestrian Q&A

The 2 percent reduction of Medicare payments will include fee-for-service (FFS) claims and durable medical equipment (DME) fees for such ortho supplies like prosthetics and orthotics are included. It also involves any rental equipment or supplies issued for multi-day use on or after April 1st.  They also point out:

“The claims payment adjustment shall be applied to all claims after determining coinsurance, any applicable deductible, and any applicable Medicare Secondary Payment adjustments.”

Medical practices must be up-to-date on all these changes.  Now that changes in health care are coming faster and more frequently than at any other time in history, it’s even more important to help you understand what these changes mean to your practice.  

There is so much going on in Congress that further changes will likely be required in the not too distant future. In our January 11 post in our blog, 6 Healthcare Trends That Will Drive Change in 2013, the need for cost awareness is reviewed,  in addition to other areas medical offices must continue to be aware of and monitor. 

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