Dear Admins,
On Wednesday, January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012. This new law prevents a scheduled payment cut for physicians and other practitioners who treat Medicare patients from taking effect on January 1, 2013. The new law provides for a zero percent update for claims with dates of service on or after January 1, 2013, through December 31, 2013.
In order to allow sufficient time to develop, test, and implement the revised Medicare Physician Fee Schedule(MPFS), Medicare claims administration contractors
may hold MPFS claims with January 2013 dates of service for up to 10 business days (i.e., through January 15, 2013).
The Centers for Medicare & Medicaid Services, (CMS) expects these claims to be released into processing no later than January 16, 2013. The claim hold should have minimal impact on physician/practitioner cash flow because, under current law, clean electronic claims are not paid sooner than 14 calendar days (29 for paper claims) after the date of receipt. Claims with dates of service prior to January 1, 2013, are unaffected.
CMS is currently revising the 2013 Medicare Physician Fee Schedule (MPFS) to reflect the new law's requirements and will be posting the MPFS payment rates on their websites no later than January 23, 2013. Once the new MPFS is available, we will send out a notification with an expected date it will be loaded into the Med Advent system.
Further notification will be provided once the 2013 Medicare Physician Fee Schedule (MPFS) have been loaded and are available in Med Advent.
Best Regards,
Your Med Advent Team
On Wednesday, January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012. This new law prevents a scheduled payment cut for physicians and other practitioners who treat Medicare patients from taking effect on January 1, 2013. The new law provides for a zero percent update for claims with dates of service on or after January 1, 2013, through December 31, 2013.
In order to allow sufficient time to develop, test, and implement the revised Medicare Physician Fee Schedule(MPFS), Medicare claims administration contractors
may hold MPFS claims with January 2013 dates of service for up to 10 business days (i.e., through January 15, 2013).
The Centers for Medicare & Medicaid Services, (CMS) expects these claims to be released into processing no later than January 16, 2013. The claim hold should have minimal impact on physician/practitioner cash flow because, under current law, clean electronic claims are not paid sooner than 14 calendar days (29 for paper claims) after the date of receipt. Claims with dates of service prior to January 1, 2013, are unaffected.
CMS is currently revising the 2013 Medicare Physician Fee Schedule (MPFS) to reflect the new law's requirements and will be posting the MPFS payment rates on their websites no later than January 23, 2013. Once the new MPFS is available, we will send out a notification with an expected date it will be loaded into the Med Advent system.
Further notification will be provided once the 2013 Medicare Physician Fee Schedule (MPFS) have been loaded and are available in Med Advent.
Best Regards,
Your Med Advent Team
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