No-Interest Charges on Medicare Accounts
I have searched online articles and appropriate Web sites, including CMS, but have been unable to find a definitive answer to this question: Is it legal to charge interest on an outstanding balance in a Medicare beneficiary’s account? I have been told that charging interest on an outstanding balance violates the conditions of participation because a provider then ends up charging more than allowed by Medicare. Could you please clarify?
Question: I have searched online articles and appropriate Web sites, including CMS, but have been unable to find a definitive answer to this question:
Is it legal to charge interest on an outstanding balance in a Medicare beneficiary’s account? I have been told that charging interest on an outstanding balance violates the conditions of participation because a provider then ends up charging more than allowed by Medicare. Could you please clarify?
Answer: That is right.
And it is stated right in the first paragraph of the Medicare participating physician agreement: “For purposes of this agreement, accepting assignment of the Medicare Part B payment means requesting direct Part B payment from the Medicare program. Under an assignment, the approved charge, determined by the Medicare carrier, shall be the full charge for the service covered under Part B. The participant shall not collect from the beneficiary or other person or organization for covered services more than the applicable deductible and coinsurance.”
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.
