Whether or not Congress addresses looming cuts of approximately 25 percent in Medicare payments, you have until Dec. 31, 2010, to modify your status with the program.
To help you with decision-making, the AMA has developed the Medicare Participation Guide that provides information to help you consider your contractual relationship with the Medicare program. The guide does not provide advice or make recommendations.
The publication outlines three contractual options to consider:
Also, the AMA offers a complete online Medicare participation kit with tools such as:
Sample letters to patients for practices opting out of Medicare or no longer accepting new Medicare/TRICARE patients
Phone scripts for practices no longer accepting Medicare/TRICARE
Sample Medicare private contract
Sample Medicare private contract “opt-out” affidavit
You also can find a Medicare payment calculator to estimate how much your total revenue from patients would change if you switch your status from Medicare participation to non-participation.
Find these resources on the AMA website.