If a recent American College of Physicians (ACP) survey is to be believed, a majority of physician practices could face serious cash-flow issues at the beginning of next year, due to non-compliance with new HIPAA 5010 data standards by the Jan. 1 deadline (effectively, Dec. 30, since Jan. 1 is a Sunday).
Socioeconomic News
The American Medical Association has launched a multi-media, grassroots campaign for a permanent Medicare physician pay fix. The campaign, which urges immediate Congressional action to repeal the sustainable growth rate (SGR) formula used to determine Medicare physician pay, includes a 30-second television spot, a 60-second radio spot and direct mailings.
CMS has extended the deadline to request an exemption from the 2012 e-prescribing penalty to November 8, 2011. Last week, CMS acknowledged multiple technical problems that were preventing Medicare physicians from accessing the web portal to request an exemption. In recognition of the technical issues, CMS will accept exemption requests submitted through November 8.
All entities covered by the Health Insurance Portability and Accountability Act (HIPAA) that submit transactions electronically are required to upgrade from Version 4010/4010A to Version 5010 transaction standards by Sunday, January 1, 2012. It is important to remember that the upcoming Version 5010 transition is not only mandatory, but is also an integral step toward a successful ICD-10 transition.
The Centers for Medicare and Medicaid Services (CMS) will not enforce compliance with new HIPAA 5010 standards for electronic billing submissions until March 31, the agency announced on November 17.
It is crucial for FCSO electronic trading partners to schedule 5010 transaction testing now!
The Centers for Medicare & Medicaid Services (CMS) requires all HIPAA-covered entities to complete 5010 testing with each of their trading partners and successfully transition to the new 5010 data format before January 1, 2012. However, with only one month left until mandatory implementation, those that continue to wait to schedule 5010 testing risk significant delays in their transition to production. If you're not sure where to begin, don't worry—we can help.
The joint House and Senate committee created to find $1.2 trillion in federal deficit savings failed to reach an agreement this week, triggering automatic cuts through a sequestration process. The sequestration imposes across-the-board cuts equally to defense and non-defense spending, beginning in January 2013.
Physicians and health plans have a kind of grace period for the first three months of 2012 before they must comply with new HIPAA Version 5010 claims transaction standards.
The Centers for Medicare & Medicaid Services' Office of E-Health Standards and Services (OESS) announced Nov. 17 that it will delay enforcement of the new rules, which govern the format of claims submissions and payments. CMS is calling the delay a “period of enforcement discretion.”
Physicians meeting criteria in 2011 to earn federal electronic medical record incentives will have more time before the Dept. of Health and Human Services requires them to satisfy tougher standards for attaining additional bonuses.
With no agreement yet in Congress, physicians continue to move closer to a 27 percent cut in Medicare reimbursement on Jan. 1 due to the sustainable growth rate (SGR) formula. This week, the U.S. House passed the Middle Class Tax Relief and Job Creation Act of 2011, which would halt the SGR cut for two years and replace it with 1 percent positive updates. The legislation now goes to the Senate for consideration, but Senate Democratic leaders have said there are not enough votes to pass the bill.
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