New 2008 Payment Rates for Services Paid Under the Medicare Physician Fee Schedule and Extension of the Participation Decision Period
The Medicare, Medicaid and SCHIP Extension Act of 2007 made several changes affecting payments to providers paid under the Medicare Physician Fee Schedule, including occupational therapy practitioners. One such change provides for a 0.5% increase to the physician fee schedule conversion factor for dates of service beginning January 1 through June 30, 2008, instead of the (negative) -10.1% that was scheduled to take place. Effective for dates of service on and after July 1, 2008, the (negative) -10.1% update to the physician fee schedule will go into effect. The new fees will be posted on your local contractor’s Web site as soon as possible.
Since there is a change to the 2008 Medicare Physician Fee Schedule rates, the Centers for Medicare & Medicaid Services (CMS) is extending the Participation Decision Period an additional 45 days. The participation decision period now runs through February 15, 2008, instead of ending on December 31, 2007. All participating status changes will be effective January 1, 2008.
To become a participating provider, complete the CMS-460 form which can be found on the CD that was mailed to providers in November. You can also request the form from your local Medicare contractor. The form must be completed, signed, and mailed to your local contractor and postmarked by February 15, 2008. If you are changing your participation status to nonparticipating, please send your request in a letter to your local contractor, postmarked by February 15, 2008.
An official CMS change request and an MLNMatters article will be forthcoming. For information regarding 2008 Medicare Physician Fee Schedule payment amounts, see the calculator tool on the CMS Web site.