Thrive in the face of declining CPT reimbursement in 2020.
The Centers for Medicare & Medicaid Services (CMS) released its final physician fee schedule for 2020. One key change that practices need to be aware of – and plan for - is the adoption of reduced cataract reimbursements. These cuts are largely due to the loss of a post-operative visit included in Medicare's overall payment for cataract services. Knowing this, how can you plan for any reimbursement changes in your practice?
At BSM, we have developed a free, downloadable 2020 Medicare Reimbursement Impact Calculator to provide you with a quick analysis of 2020 Medicare reimbursement changes for certain procedures. By calculating these changes, you will better understand the impact on your profitability and revenue stream. Calculation results are based on a select list of CPT codes and evaluate the difference between Medicare allowables in 2019 and 2020 based on billing frequency.
Plan ahead to prepare for Medicare reimbursement changes in 2020 with additional BSM products and services.
Medicare Payment Rates Tool
Establish your annual Medicare fee schedule for 2020 based on payment locality or ZIP code with this easy-to use tool for designed for eye care providers. Additional features include global fee periods, payment indicators for services subject to multiple and bilateral services, and more.
Coding and Documentation Review
Perform an in-depth review of medical record documentation and claims coding that identifies opportunities for improved billing and areas where you may be at risk.
Plan a strategic planning meeting and set yearly goals for operational and financial improvement, growth initiatives, succession planning, and other business imperatives to ensure future success.
Navigate complex topics such as patient flow and efficiency, provider productivity, and staff motivation to maximize business opportunities.
Financial Management & Benchmarking
Determine your practice’s relevant financial and operational indicators and compare them to others in the same industry to identify areas of opportunity in your practice.