Congress passes one-year SGR fix as part of fiscal cliff legislation

On Tuesday, Congress passed The American Taxpayer Relief Act of 2012, to avert the “fiscal cliff.” President Obama signed the legislation on Wednesday. In addition to various tax and spending measures, the legislation includes provisions of direct importance to medical group practices. The legislation:

• Prevents the Medicare physician payment SGR cut for one year. It eliminates the 27 percent Medicare physician payment cut, which took effect today and replaces it with a “zero percent update” to the Medicare physician fee schedule conversion factor for 2013. As has occurred with prior temporary extensions of this kind, this is not a fee schedule rate freeze. It means any conversion factor adjustments and RVU changes contained in the final fee schedule rule for 2013 may result in payment rate changes, but the massive SGR cut is nullified for a year.

• Turns off the January 2, 2013 sequester for two months. This prevents various defense and other automatic cuts from occurring, including an across the board, two percent cut for all Medicare providers. It’s expected Congress will revisit issues related to the sequester in the near future.

• Extends the Medicare 1.0 work RVU GPCI floor through December 31, 2013.

• Increases the Medicare Part B equipment utilization assumption for advanced imaging services to 90 percent effective for fee schedules established for 2014 and subsequent years, thus reducing future payments.

• Extends the Medicare therapy cap exception process through December 31, 2013.

• Increases the Medicare therapy service multiple procedure payment reduction from 25 to 50 percent effective April 1, 2013.

This information has been provided as a summary of the provisions included in the American Taxpayer Relief Act. Please contact our office at (239) 433-5554 if you have questions regarding this information and how it will impact your specific situation.

MNMW is pleased to share the spring 2012 In Addition newsletter.

Read it by clicking on the image below.

     Karen Mosteller, CPA, CHBC, consulting and firm partner with Markham Norton Mosteller Wright & Company P.A., recently served as a program speaker and presenter at the Medical Group Management Association (MGMA) 2011 National Conference.

      Held in Las Vegas, Mosteller lead an interactive presentation on “Protecting Your Practice from Fraud.” Conference attendees included medical practice administrators, managers and physicians. Participants learned to recognize red flags, both in terms of employees and situations, at their practice that are most likely to lead to lost revenue from an employee committing fraud.

      “Sixty-seven percent of employees will steal if given the chance,” said Mosteller. “These numbers have increased because of the economy.”

       She noted a study indicating that 70 percent of employees who commit fraud are long-time employees (with four to 35 years of employment) and know the ins and outs the company.

       Mosteller is a certified public accountant and certified health care business consultant specializing in business consulting and tax services for medical practices, construction and service companies to improve process, tighten the bottom line and improve profitability. Celebrating 25 years with MNMW, she is a member of the American Institute of Certified Public Accountants, Florida Institute of Certified Public Accountants, Health Management Association, Medical Group Management Association, Florida Medial Group Management Association, National Society of Certified Healthcare Business Consultants, Southwest Florida Small Business Development Center and Cape Coral Community Foundation. A frequent lecturer, Mosteller is a recipient of the “Accounting for Success, Speaker of the Year” Award from the Florida Institute of CPAs.

        Markham Norton Mosteller Wright & Company P.A. is a certified public accounting and consulting firm with offices in Fort Myers and Naples. They offer a wide range of services including business consulting, technology consulting, technology management and support, tax preparation and planning, litigation, mediation, forensic accounting and elder services. For more information, call 239-433-5554 or visit www.markham-norton.com.

Last week, I attended the annual meeting of the National Society of Certified Healthcare Business Consultants (www.nschbc.org), where several excellent presentations were given on the topics of ICD-10 and Version 5010.   As a result, I would like to share some key dates and information with you that will assist with smooth transition within your practice.

As you probably are aware, on October 1, 2013, medical coding in U.S. health care settings will change from ICD-9 to ICD-10. The transition will require business and systems changes throughout the health care industry. Everyone who is covered by the Health Insurance Portability and Accountability Act (HIPAA) must make the transition, not just those who submit Medicare or Medicaid claims.

The first ICD-10-related compliance date is less than two (2) years away. On January 1, 2012, standards for electronic health transactions change from Version 4010/4010A1 to Version 5010. Unlike Version 4010, Version 5010 accommodates the ICD-10 code structure. This change occurs before the ICD-10 implementation date to allow adequate testing and implementation time.

Preparing for ICD-10 and Version 5010 – including potential updated software installation, staff training, changes to business operations and workflows, internal and external testing, reprinting of manuals and other materials, and more – will take time. Therefore, as you begin to prepare for implementation and test ICD-10 this year, we would like to share with you several resources that may be useful for the transition within your practice.

In January 2011, The Centers for Medicare and Medicaid Services (CMS) hosted a national provider teleconference on “Preparing for ICD-10 Implementation in 2011.” During the event, experts reviewed basic information on the transition to ICD-10 and discussed implementation planning and preparation strategies for 2011. From the event, presentation materials and podcasts have been created. To access and download this information, visit http://www.cms.gov/ICD10/Tel10/itemdetail.asp?itemID=CMS1242831.

CMS has also compiled resources for medical providers that will guide administrators through the compliance timelines, frequently asked questions and other transitional topics. To access and download these resources, visit http://www.cms.gov/ICD10/05a_ProviderResources.asp#TopOfPage.

Should you have any questions regarding these topics, please contact me at (239) 433-5554 to discuss your specific situation further.

Sincerely,

Karen L. Mosteller, CPA, CHBC

Firm Partner, Karen Mosteller will lead a presentation titled “How to Protect Your Company From Employee Fraud” at a breakfast program on June 21st at Lykes Insurance in Fort Myers.

Markham Norton Mosteller Wright & Company, P.A. announces that firm partner, Karen Mosteller has been reappointed to serve on the Accounting Careers steering committee with the Florida Institute of Certified Public Accountants (FICPA). Mosteller is the consulting and technology partner with Markham Norton Mosteller Wright & Company. She is a certified public accountant and a certified healthcare business consultant. She is a graduate of the University of South Florida, Fort Myers. Mosteller specializes in business consulting and tax services for medical practices, construction and service companies to improve their processes, tighten their bottom line and improve profitability

Markham Norton Mosteller Wright & Company P.A. is a certified public accounting and consulting firm with offices in Fort Myers and Naples.  They offer a wide range of services including business consulting, technology consulting, tax preparation and planning, litigation, mediation, forensic accounting and elder services. For more information about the firm, call 239-433-5554 or visit www.markham-norton.com.

Markham Norton Mosteller Wright & Company, P.A. announces that firm partner, Karen Mosteller is celebrating 25 years of employment with the company. Mosteller is the consulting and technology partner with Markham Norton Mosteller Wright & Company. She is a certified public accountant and a certified healthcare business consultant. She is a graduate of the University of South Florida, Fort Myers. Mosteller specializes in business consulting and tax services for medical practices, construction and service companies to improve their processes, tighten their bottom line and improve profitability

Markham Norton Mosteller Wright & Company P.A. is a certified public accounting and consulting firm with offices in Fort Myers and Naples.  They offer a wide range of services including business consulting, technology consulting, tax preparation and planning, litigation, mediation, forensic accounting and elder services. For more information about the firm, call 239-433-5554 or visit www.markham-norton.com.

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