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Hospital Reimbursement and Current Billing Trends

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Hospital Reimbursement and Current Billing Trends There are many reimbursement changes going on with Medicare today due to the new Medicare Advantage Plans. My hospital is preparing financially for these changes and needs to evaluate their current billing operations as well as research the new billing trends so they may incorporate these into the current billing operations process. Our current situation with Medicare billing consists of Medicare Part A. Part A is the “hospital insurance portion of Medicare and is financed by special payroll taxes paid equally by employers and employees”, (Shi and Singh, 2013, p. 140). Medicare Advantage (Part C) was formally called “Medicare+Choice, which took effect on January 1, 1998, and was mandated by the Balanced Budget Act of 1997”, (Shi and Singh, 2013, p. 143). This law just “expanded the role of private managed care health plans. The beneficiaries do have a choice to remain in the original Medicare fee-for-service program and is not mandated to have Medicare Advantage”, (Shi and Singh, 2013, p. 143). “Medicare+Choice became Medicare Advantage under the Medicare Prescription Drug, Improvement, and Modernization Act (MMC) of 2003 which gave higher payments to MCOs”, (Shi and Singh, 2013, p. 143). “By enrolling in Medicare Advantage, the beneficiary receives all Part A, Part B, and Part D services through an MCO. Medicare pays a set capitated amount of money each month to the participating managed care plans on behalf of each beneficiary. For this, the plan manages Medicare benefits for its members”, (Shi and Singh, 2013, p. 143). Overall, having Medicare Advantage includes all parts of Medicare, and sometimes includes vision and dental care as perks to get people to sign up. Traditional Medicare does not provide benefits for vision or dental care. This sounds more organized for the beneficiary as well as

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