Issue link: https://beckershealthcare.uberflip.com/i/148060
Coding, Billing and Collections 41 The 2% Medicare Reimbursement Reduction: Q&A on How it Impacts ASCs A ngela Talton, MBA, RHIA, CCS, CPC, CPC-H, Sr. Vice President of Coding at National Medical Billing Services, answers the most frequently asked questions about the recent Medicare reimbursement reduction and how it will affect ambulatory surgery centers. Q: Why is the 2% reimbursement reduction taking place? Angela Talton: The Budget Control Act of 2011 mandates caps on discretionary spending, which under current law will be lowered beginning in January 2013. This is in an effort to remove $1.2 trillion of federal government spending over the next ten years. The Budget Control Act brought conclusion to the 2011 United States debt-ceiling crisis, which had threatened to lead the United States into sovereign default on or around August 3, 2011. Q: When does this change take effect? The reductions in Medicare physician rates will begin with services provided on or after April 1, 2013, even though the sequestration order was issued on March 1, 2013, according to the Congressional Budget Office (CBO). Angela Talton Q: Will this change only affect my office patients? The cuts will be applied to provider payments for services administered under Medicare Hospital Insurance (Part A), Medicare Medical Insurance (Part B), contractual payments to Medicare Advantage Plans (Part C) and Medicare Prescription Drug Plans (Part D), according to the CBO. This essentially means that every provider of care across the healthcare continuum will see a reduction in reimbursement. Q: Is this reimbursement reduction temporary? This announcement appears as a matter of record only. ASCs Inc. is pleased to announce the closing of acquisition transactions for: Surgery Center of Mt. Dora, FL • Endoscopy Center of Bergen County, NJ Endoscopy Center of Bergen County, NJ Hackensack Endoscopy Center, NJ • United Medical Endoscopy Center, CA Hackensack Endoscopy Center, NJ Eye Laser & Surgery Center, WI • Grand Junction EndoscopyCA CO United Medical Endoscopy Center, Center, ASCs Inc. advised the sellers. ASCs Inc. advises owners of surgery centers, endoscopy centers, and surgical hospitals on realizing maximum value from the formation of strategic partnerships with leading management companies and hospitals. For information contact: Jon Vick, President, ASCs Inc. 760-751-0250 www.ascs-inc.com