More than 200,000 providers will see a 2 percent cut in their Medicaid payments this year for not meeting CMS standards in 2014, according to Healthcare IT News.
Here are five takeaways:
1. Nearly 86,000 providers will have a payment cut between $1,000 and $10,000.
2. Nearly 6,000 more providers will have payment cuts up to $10,000 or more.
3. Approximately 117,000 providers will receive penalties less than $1,000.
4. The CMS has not released how many hospitals will be penalized, but the penalties will likely be more than those penalties placed on physicians.
5. Last year, 257,000 providers experienced penalties.
More articles on coding & billing:
Avoiding ASC cash flow issues during payer mergers
Kansas efficiency report recommends single health insurance plan for state employees — 5 things to know
Know the exemptions — Enroll in healthcare or face a steep penalty