From: Dr. Art LeVine @ iCollect Medical Billing
Navigating Medicare Changes for Chiropractors and Physical Therapists in 2024
Hello Doctors, Therapists and Staff!
If you haven’t gotten the love from me before let me say again, happy 2024, and nothing but blessings to you and yours this year, and every year hereafter!Speaking of hereafter, I know what you’re here after, which is a little information to help get you through another day in the rough and tumble world of insurance! In this go-around I’m going to focus on more of a reminder for both our Chiropractic and Physical Therapy offices. We’ve had several offices comment to us about values they are using for 2024 Medicare deductibles. The problem is that they are citing 2023 values and not the new 2024. So, I’ll address that and a couple other items in this e-newsletter. Let’s get to it!
In the dynamic landscape of healthcare, staying well-informed about Medicare Part B updates is crucial for Chiropractors and Physical Therapists. As we step into 2024, let’s delve into key changes in Medicare Part B and therapy service thresholds that directly impact these specialties.
Medicare Part B Annual Deductible:
For 2024, the annual deductible for all Medicare Part B beneficiaries is $240. This represents a modest increase of $14 from the previous year’s deductible of $226 in 2023. Chiropractors and Physical Therapists should communicate this information to their patients, ensuring transparency about potential out-of-pocket costs at the beginning of the year [Don’t forget about the “No Surprises Act”, too!].
Understanding the annual deductible is vital for all practitioners, as it directly affects billing processes and financial planning for both the healthcare provider and the patient. Being aware of these changes allows for more effective communication with patients regarding their Medicare coverage and potential financial responsibilities.
Therapy Services: Per-Beneficiary 2024 Threshold Amounts:
For 2024, Medicare introduced specific threshold amounts for therapy services. The KX modifier is applied to indicate that the services provided are medically necessary and meet Medicare’s criteria for coverage beyond the standard limits.
For 2024, the threshold amounts for therapy services are:
1. Physical Therapy and Speech-Language Pathology Services Combined:
· Threshold Amount: $2,330 – a $100 increase over 2023.
2. Occupational Therapy Services:
· Threshold Amount: $2,330 – a $100 increase over 2023.
Practitioners offering physical therapy, speech-language pathology, and occupational therapy services should take note of these threshold amounts. Once these thresholds are reached, the KX modifier becomes essential to continue receiving reimbursement for services deemed medically necessary. Any services billed after the threshold is reached, but missing the KX modifier will be denied.
It is crucial for Chiropractors and Physical Therapists to closely monitor their patients’ progress and ensure that documentation supports the medical necessity of continued therapy services. Additionally, effective communication with patients regarding these thresholds can help manage expectations and address potential financial considerations.
In light of Medicare’s strict documentation requirements, Chiropractors and Physical Therapists must maintain thorough and accurate records of patient encounters. Detailed documentation not only ensures compliance with Medicare regulations but also supports the necessity and effectiveness of the services provided. This documentation should include assessment findings, treatment plans, progress notes, and any relevant communication with other healthcare providers.
In conclusion, staying informed about Medicare Part B changes and therapy service thresholds is integral for Chiropractors and Physical Therapists in providing optimal care while navigating the evolving healthcare landscape. By understanding the annual deductible adjustments and therapy service thresholds, practitioners can enhance their financial planning, improve patient communication, and continue delivering high-quality services in 2024.
Think you might require billing and collection services? Call us for a no obligation chat to discuss your needs, or any difficulties you may be experiencing with your insurance revenue management. We work and bill directly from your software, and our knowledge and experience in different software programs now exceeds more than a dozen programs! We also post your payments for you directly in your software! Mention you read this e-newsletter and we’ll waive your start-up fee!
***We are pleased to announce the EHR software we work out of has expanded and now includes the following: ChiroTouch, ACOM, PayDC, EZNotes, Eclipse, ChiroHD, Office Ally, ChiroFusion, zHealth, CollaborateMD, MediSoft, and more! Don’t see yours on the list? We continue to expand every month! Call to find out more!
Yours in health and wealth,
Dr Art
Dr. Arthur I. LeVine
CEO & Founder, iCollect Medical Billing Services, LLC
Past President, Florida Chiropractic Assn.,
Board of Directors, Florida Chiropractic Assn.,
Chairman, Insurance Relations Committee, Florida Chiropractic Assn.,
Co-Chairman, Government Relations Committee, Florida Chiropractic Assn.,
Florida Representative, Congress of Chiropractic State Assns.,
7027 W. Broward Blvd., #229
Plantation, FL 33317
954-530-6232 Office
206-309-4925 Fax to Email
www.icollectmedicalbilling.com
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