Proposed Fee Schedule May Reduce Conversion Factor from $34.61 to $33.08.
CASSELBERRY, Fla., Oct. 3, 2022 /PRNewswire/ -- Inga Ellzey Billing Companies' Dermatology Billing Associates, the top-rated company providing outsourced billing services to dermatology practices nationwide, urges practitioners to prepare now for potential changes to COVID-19 telehealth waivers and the Medicare Proposed Physician Fee Schedule Rule for 2023.
While COVID-19 telehealth waivers remain in effect until October 13, 2022, the Centers for Medicare and Medicaid Services has yet to indicate whether or not it intends to renew the waivers yet again.
The Proposed Fee Schedule Rule also raises an issue all practitioners need to be aware of.
"The proposed conversion factor may drop from $34.61 to $33.08," notes Inga Ellzey. "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," she continues. "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, prices, etc., are unchanged by sequestration; only the final payment amount that is reduced.
"Now would be a good time to assess financials for next year, incorporating the potential conversion factor and sequestration," Ms. Elzey says. "Explore ideas of new services to add to your practice. Many practices are seeing a decline of 4-5% year after year."
To learn more about Inga Ellzey and Dermatology Billing Associates, please visit dermatologybilling.com.
About Inga Ellzey and Dermatology Billing Associates
With offices in California and Florida, the Inga Ellzey team is comprised of 145 American-based employees, with an average employment tenure of 7.5 years. Serving over 475 providers in 101 practices across 37 states, Dermatology Billing Associates is always there, wherever and whenever their clients require assistance.
Inga has more than 40 years of experience in dermatology and is recognized as the nation's foremost expert on dermatology coding, documentation, reimbursement, and billing.
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SOURCE Dermatology Billing Associates