The Florence Chapter of the South Carolina Medical Group Management Association is the professional organization for administrators and managers of medical practices in Florence, South Carolina. Membership is also open to those who provide products or services to these decision-makers.
President's Message
It's been an interesting start to 2012. If you have transitioned to the 5010 format and encountered few or no problems, congratulations, you're one of the lucky ones. I've heard various reports from "money is coming in slowly" to "there's no money at all - for weeks." Providers and payers were required by federal mandate to use the HIPAA Version 5010 electronic transactions standards starting Jan. 1. In additional news, A House-Senate Conference Committee tasked with identifying a compromise to avoid the pending 27.4 percent Medicare physician payment cut reached a 10-month deal that would maintain current physician payment rates through the end of the year. The bad news is, for rural health providers, there was language in the bill that reduced "bad debt" reimbursement from 100% to 60% for rural health clinics.
There's a lot going on in our business, I urge each of you to attend our meetings and share your knowledge. The more we know, the better we manage.
Jeff Murrell, President.
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Business Lunch
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