Medicare claims for June previously being "held" by carriers have been released - fee schedule slashed! Be prepared for unnreasonable reductions in your payments.
On June 18th CMS directed contractors to lift the hold and begin processing June 1st and later claims under the law's negative update requirement. Held claims will be released and processed on a flow basis, first-in / first-out. These "held" claims will reflect the negative update requirement and providers should see payments at approximate 21% less they had been paid.
Please know that the negative fee schedule update will ONLY be applied with dates of service June 1st and later. Claims with a DOS prior to June 1st will be processed at the rate which was in effect as of January 1,2010.
Congress continues to debate the elimination of the negative update that took effect June 1st. CMS is "hopeful" that Congressional action will be taken to avert the negative update and will continue to monitor those actions.
If Congress changes the negative update currently in effect, CMS is prepared to act quickly to make the appropriate changes to the Medicare claims processing system.
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