Latest Medicare Cuts and their Impact on Chiropractors Deciphered by Medicalbillersandcoders.com
WILMINGTON, Delaware, September 17, 2013 /PRNewswire/ --
Chiropractors across US impacted by the recent Medicare cuts are approaching Medicalbillersandcoders.com for specialized billing service and advice. Especially due to the federal budget sequester cuts (click link to read Medicare notice), where for any Medicare services performed post April 1st, 2013, chiropractic reimbursements are to be deducted by 2%.
Medicalbillersandcoders.com experts with more than a decade of experience in Chiropractic medical billing are assisting practices across US to manage the impact of the Medicare cuts in the best possible way, and help procure maximum reimbursements. To do this billing specialists at MBC first assess the impact of the cuts will have on the Chiropractic practice before providing a solution.
Medicare & Chiropractors:
- The cuts are going to impact all Chiropractic practices including those consisting of a small portion of Medicare patients. This is because most third party payers use the Medicare fee schedule as a basis to calculate their own reimbursement decisions. (For example- certain Payers Insurance reimbursement equals 150% of the Medicare allowable or few insurance fee schedules are set at 175% of Medicare).
- With Chiropractors going past the 60 day mark, of the federal budget sequester cut of 2% mentioned earlier, many have noticed a decline in their Medicare reimbursements. However the Medicare patients at these practices are also not on the receiving end of these cuts and continue paying their co-insurance, deductibles or co-pays. This means that Medicare now simply pays the participating physician or the patient in case of a non- participating physician 2% lesser. Hence neither the chiropractor nor the patient benefits, which is along with decreasing the already low Medicare reimbursements; also reducing physician satisfaction.
- Though in the July 19, 2013 Federal Register, Medicare has depicted interest in whether chiropractors should be paid for Evaluation and Management (E/M) services however, Medicare is not promising to cover E/M services for chiropractors and don't have any definite plan as of now.
Medicalbillersandcoders.com experts in this scenario are regularly updated about any federal changes in regulations and also extra careful while filing Medicare claims for their clients. They are constantly working towards streamlining the practice's billing process and looking for any gaps in the process to ensure maximum reimbursements.
How does Medicalbillersandcoders.com help Chiropractors handle the Medicare Cuts?
In-depth research and expertise in Chiropractic billing has helped MBC billing specialists tackle the Medicare cut implications, and help reduce the negative impact on revenue for various Chiropractic practices across US. MBC billing experts are able to reduce the impact of these cuts by:
- Constantly tracking the reimbursements for any reduction in payment by payers
- Studying and evaluating average payments that the practice receive from each of the payers
- Constantly researching and updating on any new Medicare rules to insure complete accuracy
- Advising the Chiropractic practice of the most successful pattern of procuring payments
- Guiding the practices on areas due to which they may be losing more money and methods through which they can procure higher reimbursements
- Sending regular reports to the clients and also following up regularly with payers
In this manner medicalbillersandcoders.com helps reduce the impact of the Medicare cuts. medicalbillersandcoders.com billing experts additionally also provide guidance to Chiropractic practices after studying their practice set-up. On identifying the area which are not working well and require streamlining, due to nearly 14 years of industry expertise medicalbillersandcoders.com then provides the best way to tackle these areas, offering a complete practice analysis of your Chiropractic practice.
Medicalbillersandcoders.com is the largest 'Consortium of Medical Billers and Coders,' across the US. The portal brings together hundreds of billers, with experience in different specialties, on the same platform to service physicians in their local areas. This network of coders and billers is growing rapidly and is currently servicing over 50 specialty physicians, across the US (New York Medical Billing, New Jersey Medical Billing, Ohio Medical Billing, Maryland Medical Billing http://www.medicalbillersandcoders.com/city/tampa-florida-medical-billing-specialist.html) with the most prominent being Dental Medical Billing, Internal Medicine Medical Billing, OB Gyn Medical Billing, Orthopedic Medical Billing and other 43 Specialties.
Prerna Gupta, Media Relations
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