Wednesday, May 30, 2012
HIPAA version 5010 grace period to end June 30
The Centers for Medicare & Medicaid Services (CMS) is expected to begin enforcing use of the Health Insurance Portability and Accountability Act (HIPAA) version 5010 electronic transactions beginning July 1.
Only a month remains until the additional 90-day grace period ends. Physicians should use this time to ensure that their version 5010 transactions are processing correctly. Transactions that are not in compliance will result in payment disruptions.
Since the Jan. 1 deadline to convert to version 5010, some physicians have reported claims processing problems that resulted in payment delays. If you are experiencing similar issues, talk to your practice management system vendor, billing service, clearinghouse or payer to identify the exact problem and how to correct it.
If this does not resolve the issue, you also can complete an online form to report it to the AMA, which has been working with CMS and state medical associations to help resolve version 5010 claims processing problems. Physicians also can file a complaint with CMS.
Learn about opportunities, challenges of shared savings
Physicians can participate in a free webinar to learn more about increasingly popular new payment models, including shared savings and accountable care organizations.
Offered at noon Eastern time June 4, the webinar features national expert Harold Miller, who will discuss these new models designed to manage health care costs and improve quality. Participants will learn how payers are implementing shared savings and other programs, discover the benefits of participating and come to understand the weaknesses of this new payment model. Register today.