Home Forums Discussions General Discussion Medicare payments

Is it just me or has Medicare slowed down on payments?

I have heard that for the first 15 days of January, Medicare will be with holding payments but, we are still in December.

Oh, I get it, GMAC will be getting another 3.5 billion dollars. That's where our money went.

Anyone have information on the 21.9 % reduction in reimbursements?

If Medicare is, shame on them. I don't know anything aobut the Medicare hold on payments, but love this post from ryanjo in another thread:

quote=ryanjo]You know, this post gave me an inspiration. Since Medicare is going to hold payments[/url] for the first 10 days of January 2010, I'll submit some "practice claims" for a CABG , a liver transplant and a few cardiac caths to float the cash flow until they start paying claims again.

These EMRs can be tricky, after all. [/quote]

I believe congress has passed a bill delaying the 21% cut for 2 months to give them time to take another whack at the SGR. Fat chance that will happen. I am sure we will end up with another 1 year patch.

Arg. I don't know all these acronyms being bandied about. GMAC? SGR? *head scratch*

Oh, VVVV thanks! (see next post)

SGR= Sustainable Growth Rate

GMAC= General Motors Assistance Corporation

I quite agree. Seems this has been happening for the last several years.

Of course you realize that if they make the 21% paycut permanent, the quality of patient care will decline in some offices. Also, the return visits will just get scheduled more often. It will end up costing Medicare more, not less.

All of my contracts are based on a percentage of Medicare payments so if Medicare cuts us 21% I get cut 21% across the board. My take home pay would decrease over 50%. I would need to think hard about taking Medicare and Medicaid at all if that were to occur. It won't happen because our esteemed representatives in Washington are aware of this situation. They keep us happy by making us think no raise at all in 5 years despite perpetually rising costs is a good thing by sparing us the cut at the 11th hour. Soap box.

Bill,

I have a feeling almost all contracts are based on a percentage of Medicare.

So yes, if Medicare cuts 21%, so will everyone else at renewal time. Whether you take Medicare or not really has no effect on their offer to you. They simply note that they will pay a certain percentage of X on their contract offer.

I have a feeling it's going to get quite bad before "our esteemed representatives" really take a comprehensive look at the situation.

ANSharda,
I realize not taking medicare will have no affect on my commercial contracts but those contracts pay at a significantly higher rate than medicare and medicaid and it may be the only way to stay in business if the cuts go through. Again, I really don't expect that to happen. I am sure we will again get an 11th hour reprieve.