Question: Will I need to resubmit the claims I submitted in January 2006 to claim the corrected physician fee schedule rate? Answer: No, you don't have to take any action to receive the adjusted monies. Carriers will be able to speed the transition to the new fees within two business days after the legislation is enacted, CMS says. Answers to Reader Questions and You Be the Coder contributed by Michael A. Ferragamo, MD, FACS, clinical assistant professor of urology, State University of New York, Stony Brook; and Morgan Hause, CCS, CCS-P, privacy and compliance officer for Urology of Indiana LLC, a 31-urologist practice in Indianapolis.
New Hampshire Subscriber
Medicare carriers will calculate the additional amount you'll be due and pay it to you as a lump sum no later than July 1. The exact date may vary depending on the number of claims a carrier must reprocess.
How it works: Once the president signed the budget bill that the House passed on Feb. 1, the conversion factor reverted back to the 2005 rate of 37.8975. The change is retroactive to Jan. 1, 2006.