10.1% Reimbursement Cut Delayed for 6 Months
Congress passed the Medicare, Medicaid and SCHIP Extension Act of 2007 providing a delay in reimbursement cuts for at least six months. The bill awaits the President’s signature. The highlights for ophthalmology include:
- Reimbursement cut replaced with 0.5% increase through June 30, 2008. We anticipate a 0.5% adjustment to the 2007 conversion factor and no changes to the RVU changes published in the November Medicare Physician Fee schedule.
- The work geographic index (GPCI) remains at a minimum of 1.00 through June 30, 2008 which benefits those locales where it had dropped below 1.00 in the November publication.
- The Physician Quality Reporting Initiative (PQRI) program continues to be funded in 2008 and remains voluntary.
- Physician scarcity area bonus program (PSA) due to expire December 31, 2007 remains through June 30, 2008.
Additional changes exist in the bill, but these are the most pressing issues for most ophthalmic practices. We will keep you updated as new details present.