Part B Insider (Multispecialty) Coding Alert

Published on Fri Aug 18, 2006 PDF

Your cash flow will be hit hard in late September, when Medicare puts the brakes on payments for nine days, say experts.

The payment hold -will also throw off billing timing, referrals to collections, notices to patients concerning outstanding bills, etc.,- says Quinten Buechner, president of ProActive Consultants in Cumberland, WI.

Just how much the pay suspension will affect your cash flow depends on your specialty, says Marvel Hammer, owner of MJH Consulting in Denver. Specialties such as geriatrics, nephrology, primary care and general internal medicine will be the most affected by the suspension. She and Buechner offer four tips for dealing with the crisis:

- Expedite your bills. -Try to speed up your billing process and get as many [Medicare claims] as possible paid before the deadline,- advises Buechner.

- Try to delay your September accounts payable. Contact an account representative and -make arrangements for delay of payment of any large account,- Hammer says.

- Slow your spending. If your practice funds are low already, make sure you only spend when necessary until the pay suspension ends, says Buechner.

- Seek a bank loan. -This would at least help you cover large outlays, e.g., payroll, which may be due during[the suspension],- Hammer says.