Recently the Centre for Medicare and Medicaid Services (CMS) came out with select changes in the fee schedule for the Physical Therapists, Occupational Therapists, and Speech-Language Pathologists. One of the major rulings under the 2021 Medicare Physician Fee Schedule (MPFS), implements a 9 % decrease in the reimbursement fee for PT, OT, and SLP services. This rule has been made effective since January 2021.
This comes at a time when medical health service providers expected to find relief from the difficulties arising out of COVID 19. Many practices and institution-based healthcare providers are already cutting out their staff or closing down their services because of the COVID 19 ramifications. A further cut in the fee reimbursements can put more pressure on the therapists.
CMS has announced this ruling as part of its measure to achieve budget-neutrality. CMS has revalued the rates of several Evaluation and Management Codes (E&M) giving raise to primary specialties and reducing the amount paid to more than thirty specialties including PT, OT, and SLP.
The ruling has more changes that also bring a ray of hope, spurring a debate whether the total impact of this goes in favor or proves detrimental for the industry.
The medical fraternity must wait and get prepared to fight this battle in ensuring rewarding reimbursement for our services. H.R. 8702 is bipartisan legislation that will address these cuts by providing relief payments in an amount that will ensure parity with current payments for impacted services. Professional medical billing services companies can help you decode the new rules and leverage them to your benefit.
Atlantic RCM is one of the leading multi-specialty medical billing companies in USA that serves 25+ major medical billing specialties. Our experts work across your practice in billing, collections and account receivables management, to help you succeed.
Get in touch with the leading medical billing outsourcing company to learn more. Call us at (786) 264-1222 or write to us Info@atlanticrcm.com