Skip to comments.email: Medicare Sequestration 2% reduction – All Medicare Carriers
Posted on 05/09/2013 8:36:44 PM PDT by gasport
A billing service sent the following email today-
As required by law, President Obama issued a sequestration order on 3/1/2013 requiring across-the-board reductions in Federal spending. Because of this, Medicare claims with dates-of-service or dates-of-discharge on or after April 1, 2013, will incur a 2 percent (2%) reduction in Medicare payments. Claim adjustment reason code CO-223 (Adjustment code for mandated Federal, State or local law/regulation that is not already covered by another code and is mandated before a new code can be created.) will be used to report the sequestration reduction on the ERA and standard paper remittance.
If you do electronic payment remittance with Practice Manager, we have a program fix to accommodate this 2% reduction. The remittance program will automatically write off the reduction without a hassle. Contact customer support for further information.
I’d question the legality of the reduction.
Your own insurance must pay.
I thought Medicare was exempt from sequestration.
You mean ‘write off’, no?
2% reduction or a 2% reduction in the rate of growth?
I did the work.
I want my money.
“Id question the legality of the reduction.”
The whole socialist program should be in question for constitutionality
What should be questioned is the legality of the cost shifting onto non-medicare patients, and the increase in private insurance to pay for everyone else.
Medicare Sequestration Will Cost Clinicians $4.9 Billion
This administration policy is to bend over and take it.
What is the source of the email?
Did it come directly from Medicare.gov or did it just show up from some other entity?
My billing service
this is theft, these guys already paid taxes and payroll on 100% of what was billed.
This is a law suit that they will win.
“I AM FROM THE GOVERNMENT AND I AM HERE TO HELP YOU.”
The reality is that they only pay something like $75 for a level 4 (99214) visit now. Many docs pay everything else first. Rent, salaries, trash, lights, you name it. If you are good you might get your “per widget price” down to about $48-55. Many don’t. The doc gets paid LAST. So a 2% cut is really more like a 6 or 10% cut. If your practice is busy you can tell the Medicare folks to find a new doc.
Have you seen other, corroborating news about it?
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