"Happy New Year 2012"
Dear Doctors and Staff,
The window to change your participation status in Medicare ended Saturday, December 31st. I hope you made sure to send any request for change of status by certified mail.
Congress did pass the 2 month extension bill that assures our Medicare reimbursement fees will not be decreased on January 1st by 27%. However, that extension is only for two months. Our Medicare reimbursement will probably be a little higher in January 2012 than what it was in 2011 because of relative values. To check your specific fees.... go to your Medicare Carrier web site, search fees. On about page 245? you will come to 98940, 98941, 98942. The code without the pound (#) sign will be your fees in your local. If the fees you see are still decreased.... your Medicare Carrier does not have the new fees posted as of yet.
Software contractors for electronic billing should have met their mandated deadline to be in compliance for 2012. They must be prepared with the 5010 software that begins our compliance process in 2012 to start using the ICD-10 codes.
We Chiropractors and staff must also become compliant in Medicare if we plan on being in practice five years from now. While the Chiropractic Medicare Compliance is voluntary, in the first 5 years it carries substantial positive incentives that makes it attractive to all eligible entities. However, entities that do not demonstrate "meaningful use" of electronic health record technology will be subject to significant Medicare payment reductions after the fifth year.
Questions? Please give me a call.
Dr. Gary R. Street