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Medical Billing Blog

Temporary Claims Hold Pending Congressional Action to Extend 2% Sequester Reduction Suspension

                                               

Updated Tuesday, March 30, 2021

In anticipation of possible Congressional action to extend the 2% sequester reduction suspension, we
instructed the Medicare Administrative Contractors (MACs) to hold all claims with dates of service on or after
April 1, 2021, for a short period without affecting providers’ cash flow. This will minimize the volume of claims
the MACs must reprocess if Congress extends the suspension; the MACs will automatically reprocess any
claims paid with the reduction applied if necessary.

           

       

 

Medical billing services that maximize profit and cash flow

We understand that your practice needs a swift, reliable revenue stream in order to thrive. And, we know that it takes more than a slick software package to make it happen.  Definitely, It takes the right people. Therefore, we have created unique medical billing services to make your life easier. It is backed by our experience serving physicians since 1995.

We make sure our clients are supported by a billing and collections team carefully chosen for their industry expertise and dedication to customer service. In addition, your PRM team takes full responsibility for the financial health of your practice. If you don’t get paid, we don’t get paid. As a result, this performance-based model keeps our operations lean and focused, and help us achieve one of the highest collection rates in the billing industry.

Finally, when you know the right people are handling your revenue cycle, you can relax and focus on what you do best- delivering excellent medical care.

PRM is here to help make life easier for you and your office staff. Join our medical billing company today and enjoy our benefits! Contact Us

Lanny Menendez
Professional Reimbursement Managers

Medicare Claims: 2% Payment Adjustment (Sequestration) Suspended Through December

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The Coronavirus Aid, Relief, and Economic Security (CARES) Act suspended the sequestration payment adjustment percentage of 2% applied to all Medicare Fee-for-Service (FFS) claims from May 1 through December 31, 2020.  The Consolidated Appropriations Act, 2021, extended the suspension period to March 31, 2021. An Act to Prevent Across-the-Board Direct Spending Cuts, and for Other Purposes, signed into law on April 14, 2021, extends the suspension period to December 31, 2021.

Medicare Administrative Contractors will:

  • Release any previously held claims with dates of service on or after April 1, 2021.
  • Reprocess any claims paid with the reduction applied.

You don’t need to take any action. 

Medical billing services that maximize profit and cash flow

We understand that your practice needs a swift, reliable revenue stream in order to thrive. And, we know that it takes more than a slick software package to make it happen.  Definitely, It takes the right people. Therefore, we created unique medical billing services to make your life easier, It backed by our experience serving physicians since 1995.

We make sure our clients are supported by a billing and collections team carefully chosen for their industry expertise and dedication to customer service. In addition, your PRM team takes full responsibility for the financial health of your practice. If you don’t get paid, we don’t get paid. As a result, this performance-based model keeps our operations lean and focused, and help us achieve one of the highest collection rates in the billing industry.

Finally, when you know the right people are handling your revenue cycle, you can relax and focus on what you do best- delivering excellent medical care.

PRM is here to help make life easier for you and your office staff. Join our medical billing company today and enjoy our benefits! Contact Us

Phone: (855) 817 0778
Email: info@prmbilling.com

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