Retroactive provisions in the Patient Protection and Affordable Care Act, coupled with technical corrections to the 2010 Medicare physician fee schedule, resulted in overpayments and underpayments on millions of Medicare fee-for-service claims during the first five months of 2010. To address the inaccurate claims, the Centers for Medicare & Medicaid Services (CMS) announced yesterday that it would begin reprocessing some of them over the next few weeks – a process CMS says will take "some time."
According to CMS's instructions, claims that were underpaid will not be automatically reprocessed at higher rates. However, providers should not resubmit these claims. Instead, they should request a manual reopening and adjustment of the claims from the Medicare contractor. Additionally, contractors will send requests for repayment of overpayments to providers. CMS will waive beneficiary cost-sharing and claim adjustment time limits for claims affected by these changes.
Dallas L Alford IV, CPA is a licensed Certified Public Accountant in the state of North Carolina and owner of Atlantic Financial Consulting, a consulting firm that provides comprehensive medical billing services, practice management consulting, coding audits, Medicare compliance, Medicare RAC support and other general medical practice consulting services.
To learn more about Atlantic Financial Consulting you may visit their website at http://atlanticfinancial.us or contact Dallas L Alford IV, CPA directly at 1 888-428-2555, Ext. 200.
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