Medscape released a list of methods physicians and practices should employ to increase pay and maximize efficiency.
Here are eight things to know:
1. Physicians should collect patients' payments before the appointment (preferably via credit card) whenever the payer allows it. Patients who can't pay should be put on a payment plan, which are very effective as long as patients have the means to pay.
2. Physicians who don't report 2017 MIPS measures will lose 4 percent of their Medicare reimbursements in 2019. The percentage rises to 9 percent in 2022.
3. Instead of selling new products or services on the side, physicians should strive to control costs and improve revenue cycles.
4. Medicare will pay $85 per month for chronic care management services requiring 60 minutes of staff time in 2017. Additional 30-minute increments will each be covered with $30 payments.
5. Medicare's transitional care management program pays physicians higher reimbursement rates than typical office visits.
6. Practices can earn reimbursements when treating new Medicare beneficiaries during their initial checkup and annual wellness visits.
7. Primary care physicians may earn money to coordinate behavioral health services for patients.
8. To maximize efficiency, physicians should expand medical assistants' team-based care needed for value-based arrangements.
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