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Effective May 24, 2010, the CMS will institute a new denial code (N432) that is specifically a message to you (the physician’s office) that reimbursement has been held back due to a RAC audit. Specifically, “When possible, the Remittance Advice shall contain an N432 code to let the provider know that the adjustment is the [...]
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Continue ReadingIn the May 10, 2010 issue of Forbes Magazine, the On My Mind section features resident scholar at the Institute for Policy Innovation Merrill Matthews. Mr. Matthews primary point is a good one: cut the fraud in Medicare (about 10%) down to the insurance industry “norm” of 1.5%. Do this and you have about $40 [...]
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Continue ReadingDue to some posturing by contractors to gain the very lucrative RAC contract, there was expected to be a delay of when the newly awarded contractor would take over conducting RAC audits. There may still be a 90 day RAC blackout period if/when a transition of the RAC contractors occurs, but that won’t be known [...]
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