March 2018 Client Newsletter
Congress’ “Bipartisan Act of 2018”
Passed by Congress on February 9, 2018 and signed by President Trump the same day, it is largely a win for providers. The bill will:
- Increase flexibility and reduce burden in the Quality Payment Program;
- Eliminate the unelected Medicare cost-cutting board known as the IPAB;
- Extend the work Geographic Practice Cost Index (GPCI) floor for two years through 2019;
- Permanently repeal the Medicare Therapy payment cap;
- Incorporate new flexibility for Accountable Care Organizations;
- Expand coverage for Telehealth services;
- Decrease requirements in the Meaningful Use Program; and
- Extend Children’s Health Insurance Program funding for an additional four years through fiscal year 2027.
Details will likely be announced in the coming days and weeks.
Insurers Provider Directories
State and federal regulations require every payer you work with to keep their provider directories up to date, and those laws require payers to contact you every 90 days to ask if you have changes.
You should be getting calls, letters, faxes, and/or emails from your payers asking you to update your information. Some payers are even removing providers with un-verified business profiles from their directories. Be sure to respond to these requests – don’t wait for the insurer to stop paying before you respond.
Virtual Credit Cards – NO!
We have written about the Virtual Credit Cards (VCC’s) multiple times the past few years. They charge the same as credit cards which costs providers about 3% in order to collect your money. Insurers are required to provide EFT payments (direct deposit) for no cost. If you are still getting any payments via VCC, let us know so we can help you get this moved to EFT. If an insurer is not cooperative, we will help “persuade” them. Why should a provider have to pay to get an insurance payment!