Medicare participation selections due by Dec. 31

Friday, December 12, 2014 08:13 AM

Each year physicians have the option of modifying their status with Medicare during Medicare’s open enrollment period. The decision period for physicians to change their participation status for 2015 ends Dec. 31, 2014. A 21 percent cut to Medicare payments is scheduled to take effect April 1, 2015, under current law. The Colorado Medical Society and American Medical Association are working to secure repeal of the formula that leads to this annual threat of steep pay cuts. Go to www.FixMedicareNow.org for more on this effort.

There are three Medicare contractual options for physicians: Participating, non-participating, and private contracting.

Physicians can use the AMA’s Medicare Participation Kit to help them evaluate their participation options and choose the direction that is suitable for their practice. The kit contains a detailed explanation of physician options, a calculator and various sample materials for communicating with patients.

Click here to access the kit and for more from the AMA.