Are Covid 19 Telehealth waivers still going to be around in 2023? For now they are, at least through Oct 13, 2022. We will have to wait to see what happens then.
The proposed fee schedule rule has an issue everyone should be aware of.
The proposed conversion factor may drop from $34.61 to $33.08. In Dermatology, for example, that could mean a shave biopsy could go from $105.53 to $100.89. A malignant excision 11600 could go from $204.49 to $195.50. Mohs 17311 could go from $683.23 to $657.30.
Add to that full sequestration phased in at 2% of the non-patient portion of all items and services. What this means is all fee-for-service Medicare claim payments are subject to the 2% reduction. Payment adjustments required under sequestration apply to all claims after determining the Medicare payment including application of the current fee schedule, coinsurance, any applicable deductible, and any applicable Medicare secondary payment adjustments. All fee schedules, pricers, etc., are unchanged by sequestration; only the final payment amount that is reduced.
Now would be a good time to assess your financials for next years, incorporating the potential conversion factor and sequestration. Explore ideas of new services to add to your practice. Many practices are seeing a decline of 4-5% year after year.
See the 2023 Medicare Physician Fee Schedule4 Proposed Rule at:
CMS Newsroom Update – Fee Schedule
The final rule will be released in early November.
Read more from our published resources:
A Surefire Way to Increase Practice Income and Reduce Overhead in 2022
Where is your Money Hiding?
About Inga Ellzey and our Dermatology Billing Services
After 27 years of perfecting billing processes, Inga Ellzey continues to be the nation’s leading expert in dermatology billing. Our billing service serves over 100 dermatology practices in 37 states without utilizing any offshore labor. Our goal is to make sure that you and your patients receive the most competent and professional service available on the market today.
If you are interested in speaking with our company about how we can maximize your collections while also improving your process, please contact us or call 888-434-4374.[/vc_column_text][/vc_column][/vc_row]