How to Reduce Days in A/R with Smart Denial Management Strategies

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 Timely reimbursement is the lifeblood of a financially healthy medical practice. Yet, increasing Days in Accounts Receivable (A/R) continues to be one of the most pressing revenue cycle issues for healthcare providers. One of the major culprits behind this issue? Denials. In this blog, we explore how strategic denial management not only reduces days in A/R but also improves cash flow and strengthens your bottom line. Understanding Days in A/R Days in A/R refers to the average number of days it takes for a practice to collect payments due after services have been provided. Industry benchmarks typically suggest keeping A/R days under 35. Anything higher signals inefficiencies - and likely unresolved denials. How Claim Denials Affect A/R Denied claims delay payments and increase administrative burden. Without an effective process to identify, appeal, and correct them, your A/R days will climb - and revenue will suffer. Top causes of denials include: Missing or incorrect ...

2022 Revised Codes for Principal Care Management

 

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In the Final Medicare Physician Fee Schedule (MPFS) for 2022 issued on November 2, 2021, the Centers for Medicare and Medicaid Services (CMS) added five new CPT codes in the categories of Chronic Care Management (CCM) and Principal Care Management (PCM) and increased reimbursement for already existing codes in the same categories. These codes are like chronic care management services in that the work involves the establishment, implementation, revision, and monitoring of a care plan for a patient. However, principal care management focuses on a single condition (rather than two or more). In the year 2022, Medicare will accept CPT codes 99424, 99425, 99426, and 99427, and discontinue HCPCS codes G2064 and G2065.

2022 Revised Codes for Principal Care Management

CPT 99424: Principal care management services, for a single high-risk disease, with the following, required elements:

  • one complex chronic condition expected to last at least 3 months, and that places the patient at 
  • significant risk of hospitalization, acute exacerbation/ decompensation, functional decline, or death, 
  • the condition requires development, monitoring, or revision of a disease-specific care plan, the condition requires frequent adjustments in the medication regimen, and/or the management of the condition is unusually complex due to comorbidities, 
  • ongoing communication and care coordination between relevant practitioners furnishing care. 

The first 30 minutes are provided personally by a physician or other qualified health care professional, per calendar month. The reimbursement rate for CPT 99424 in the year 2022 is $81. 

CPT 99425: For each additional 30 minutes provided personally by a physician or other qualified health care professional, per calendar month (List separately in addition to code for primary procedure. The reimbursement rate for CPT 99424 + 99425 in the year 2022 is $139.

CPT 99426: Principal care management services, for a single……. between relevant practitioners furnishing care. The first 30 minutes of clinical staff time are directed by the physician or other qualified health care professional, per calendar month. The reimbursement rate for CPT 99426 in the year 2022 is $61.

CPT 99427: For each additional 30 minutes of clinical staff time directed by a physician or other qualified health care professional per calendar month (List separately in addition to code for primary procedure. The reimbursement rate for CPT 99426 + 99427 in the year 2022 is $108. Read Continue: 2022 Revised Codes for Principal Care Management

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