New legislation could speed up Medicaid claims payments
One of the top concerns among medical practices is ensuring that they get paid for their services promptly. Navigating the maze of public and private payers can be tricky, but help may be on the way.
New legislation recently introduced into the U.S. House of Representatives may speed the pace at which physicians receive payment for treating Medicaid patients. The Fair Pay to Medicaid Providers Act would require that 90 percent of all claims within 30 days of receipt and 99 percent of all claims be processed within 90 days of receipt.
This could significantly speed up the time it takes physicians to receive payment for their services.
"Delayed payment to Medicaid providers puts patients and employees at risk," said the bill's co-sponsor Representative Brian Bilbray. "Any delay of payment for care provided to patients can jeopardize facility operations and make it difficult to pay employees."
Billing issues have been close to the front of many physicians' minds in recent years, with many transitioning to electronic health records and practice management systems to speed billing and payment processes.
