Well, it’s December 28, 2012 and still no final word about whether or not we’ll experience a cut in pay from Medicare.  If the White House and Congress does not come to an agreement soon, Chiropractors (and other physicians) will face a 26.5% reduction in reimbursement.

Now there’s not much we can do about that; however, here are some tips on handling your Medicare patients financial plans until the dust has settled.

1. Stay informed. Watch the news. Someone, somewhere is going to have to inform you of whether the cuts go through because the only way Medicare is going to let you know is after the fact.

2. Collect deductibles. The Medicare Part B deductible for 2013 is $147, the co-insurance is still 20% and fortunately, that is not under debate. Don’t push everything off until the dust settles. Collect at the time of service as usual. Better to collect the wrong amount than nothing and have to chase the patient down at a later date.

3. Act as if…the cuts are going through. Therefore, collect the lower reimbursement amount that factors in the fee cuts. Please go directly to your Medicare carriers web page to find that fee schedule for the exact amounts. While it would make logical sense to collect more (as if the fee cuts were cancelled), by doing so, you could potentially be over-collecting, therefore over-charging your patients. We all understand that is a big no-no in Medicare. And while their delays would be the cause of things and it would stand to reason they would be lenient pursuing punishment to any physician who “accidentally” overcharged the patient, the question remains: do you trust Medicare?

4. Make sure you don’t give everything else away. While most chiropractors understand that Medicare only pays for the adjustment, far too many labor under the misbelief that they must (and do) give everything else away for free. Not only is this not true, it is not remotely sane or profitable.

If you are confused or frustrated on how to master Medicare, maximize billing, conquer coding and actually get paid for what you do (by any payer), don’t let all these changes steal your joy.  I’ve got good news: it IS possible to stay current on all of this, it IS possible to learn strategies and tips to better your business and it IS possible to actually enjoy and profit from being a chiropractor.  And if you doubt any of these — or just need some directions — you need to consider attending one of of our upcoming seminars  on chiropractic billing, coding, documentation, and collections.  Don’t stress, “We’ve got Your Back.”

No matter what happens…..Here’s to a Great and Prosperous 2013!!!!!