Friday, December 23, 2011
Providers Told to Hold Medicaid Claims to Avoid Payment Cut
"The Centers for Medicare and Medicaid Services is directing providers and claims administration contractors to delay filing claims for services paid under the 2012 Medicare Physician Fee Schedule," according to the OSNSuperSite. "Providers are advised to hold 2012 claims for the first 10 business days of January. The directive is intended to help providers avoid a 27.4% Medicare physician payment cut scheduled to take effect Jan. 1.The hold is expected to have a minimal impact on providers' cash flow because, under the current law, clean electronic claims are paid no sooner than 14 calendar days after the date of receipt and paper claims are paid no sooner than 29 days after the date of receipt." Read more.