Dusty Massey’s Post

Updates on Medicare by our job club friend, Michelle Feibus, The Medicare Superwoman! FYI--Just announced 2024 Medicare costs. ***The premium for Medicare Part B enrollees per person per month will be a minimum of $174.70 for 2024, an increase of $9.80 from $164.90 in 2023.***The annual calendar Part B deductible will be $240, an increase of $14 from the annual deductible of $226 in 2023. ***Adjusted amounts-- Income Related Monthly Adjustment Amount (IRMAA) brackets.FYI--IRMAA letters are auto generated by the gov't (looking back 2 years on your taxes). ***Social Security recipients’ annual cost-of-living adjustment will be 3.2% for 2024Reminder--Sunday starts Medicare Open Enrollment (Oct 15th-Dec 7th). Any changes take effect on Jan 1st. Questions?--Pls reach out--YourMedicareOptions@gmail.com, 512-585-1122

The government’s $3.5 billion funding boost for Medicare bulk billing is now in effect, making visits to the doctor free for an estimated 11 million children, concession holders and pensioners. But some industry leaders say it is under threat from state taxes. The new scheme, which the medical community had lobbied for, will triple the bonus paid to doctors to allow bulk billing for vulnerable patients. But Nicole Higgins, President of The Royal Australian College of General Practitioners (RACGP), warns new payroll taxes to be applied to GPs for the first time by several states will undermine the benefits, reports The Age. She claims the increased costs will inevitably be passed on to patients. Professionals are reacting on LinkedIn to the new scheme and its impact on GPs. Michael Bonning, President of the Australian Medical Association (NSW), welcomed the funding but said it “does not undo decades of underindexation of Medicare and for many GPs they have had to make the difficult decision to change their billing arrangements to ensure everyone who sees them gets high quality care”. Ashley James, Business Development Manager at Cornerstone Health, said “Today’s tripling of the bulk billing incentive will really help both our patients and GP's in the network” while medical recruitment consultant Richard Lavender said the funding was a win, but issues with bulk billing need to be addressed. “Targeting specific demographics may reduce the financial incentive for GPs to see other patients,” he writes. What do you think of the increased funding? Will it genuinely allow doctors and clinics to offer free services or are there other issues with bulk billing that need to be addressed? Share your perspective in the comments. ✏️ Cathy Anderson Sources: The Age: https://lnkd.in/eq4KEFP8 Richard Lavender: https://lnkd.in/e-NG68j3 Michael Bonning: https://lnkd.in/eGWYt_vJ Ashley James: https://lnkd.in/eagcgyTh

Here're some less-known facets of the increased funding for Medicare bulk billing: 1. State Payroll Taxes: The text mentions that the funding boost is under threat from state taxes. Diving deeper into the specifics of these state payroll taxes, their implementation, and the potential challenges they pose for GPs could shed light on the complexities of the funding landscape. 2. Impact on Vulnerable Patients: While the focus is on the potential passing on of costs to patients, exploring how the increased funding directly benefits vulnerable patients, such as children, concession holders, and pensioners, in terms of improved access to healthcare services could provide a nuanced perspective. 3. Decades of Underindexation: The president of the Australian Medical Association (NSW) mentions that the funding "does not undo decades of underindexation of Medicare." Understanding the historical context of underindexation and its implications on the healthcare system could add depth to the discussion. 4. Billing Arrangement Changes: The mention of GPs making difficult decisions to change their billing arrangements raises questions about the nature of these changes and how they impact the quality of care provided. Exploring the evolving dynamics in GP billing practices could offer insights into the challenges faced by healthcare professionals. 5. Demographic Targeting Concerns: The medical recruitment consultant's perspective on targeting specific demographics reducing financial incentives for GPs prompts a deeper exploration of the potential unintended consequences of the funding boost. Understanding how demographic targeting may influence healthcare delivery and access is key. 6. Cornerstone Health's Perspective: While one professional expresses optimism about the bulk billing incentive, understanding the specific ways in which the tripling of the incentive helps both patients and GPs within Cornerstone Health's network could provide a real-world example of the impact of the funding. 7. Community Input: The text invites readers to share their perspectives in the comments. Exploring the diverse opinions and experiences shared by the community can provide a more comprehensive view of how individuals, including patients and healthcare professionals, perceive the increased funding and its implications.

🏥💼🏢 As a nursing home administrator, strategic planning is crucial for your facility's success. With challenges such as financial viability, operational efficiency, staffing, supply chain stability, and regulatory compliance, having a solid plan is essential. 📊 Financial Viability: Maximizing Medicare and Medicaid reimbursements is key to offsetting the rising cost of patient care. A strategic mix of patients, including short-stay Medicare cases, can help maintain financial balance. 🔧 Operational Efficiency: Embrace technology like telehealth and social media to enhance resident care and streamline operations. Automated solutions can also improve billing and collection efforts, ensuring better cash flow. 👥 Staffing & Supply Chain Stability: Address staffing shortages through innovative recruiting and retention strategies while focusing on maintaining a positive workplace culture. Utilize digital tools to educate residents and families about vaccination importance. ⚖️ Regulatory Compliance: Stay up-to-date with changing Medicare and Medicaid policies to ensure timely and accurate compliance filings. Seek professional guidance to navigate new requirements effectively. 📊💰 And let’s not forget about the importance of tax planning for nursing homes! 🏥 As a CPA and tax advisor specializing in nursing home owners and long-term care providers, I understand the intricacies of tax regulations in this industry. Strategic tax planning can significantly impact your nursing home’s financial health. By optimizing deductions, credits, and incentives available to nursing homes, we can help maximize your tax savings while ensuring compliance with all relevant tax laws. Whether it’s navigating the complexities of Medicare and Medicaid reimbursements or understanding tax implications related to new COVID-19 regulations, I’ve got you covered. If you need expert assistance in developing comprehensive strategies for your nursing home, don't hesitate to contact my team at GGM Associates, INC We are industry-savvy and ready to help you succeed! 🌟💪 #NursingHomeAdministrator #StrategicPlanning #FinancialViability #OperationalEfficiency #StaffingAndSupplyChain #RegulatoryCompliance

It's officially election season. It seems like every add on TV is trying to scare me about something. Well, the thing that keeps me up at night is our elected officials trying to destroy the practice of medicine. Consider this. Over the last 20 years Medicare reimbursement for doctors has gone DOWN by almost 10%. During that same time any reasonable measure of inflation, CPI-U, Median Home Price, etc has gone up about 70%. Heck, even social security payments have gone up by 70% over the last 20 years. So, here is my solution. Every doctor and delivery system needs to send a message to their Medicare patients. We are not going to take it any more. We demand that our elected officials pass a law that for the next 10 years Medicare rates for doctors will go up every year by the inflation rate for the last 12 months plus 1%. The additional 1% is to help us catch up for the last 20 years. Doctors need to tell their patients that every year congress fails to follow this simple rule the doctors will reduce the number of appointment slots for Medicare patients by 10%. Let mobilize the seniors and have them contact their representatives. This is a powerful voting block and its time for doctors and patients to make sure they know the only way to keep your precious seat in DC is to take care of our elderly and the physicians who care for them. I am reminded of the scene in the movie Ghost Busters when Bill Murray is talking to the Mayor of New York and says; "But if I'm right, and we can stop this thing... Lenny, you will have saved the lives of millions of registered voters." If we don't do something soon in a few short years when I get my Medicare card there may not be any doctors left who will take that card. https://lnkd.in/e9yPiabQ

Unexpected decline in #Rx costs. "For decades, runaway Medicare spending was the story of the federal budget. Now, flat Medicare spending might be a bigger one. Something strange has been happening in this giant federal program. Instead of growing and growing, as it always had before, spending per Medicare beneficiary has nearly leveled off over more than a decade. The trend can be a little hard to see because, as baby boomers have aged, the number of people using Medicare has grown. But it has had enormous consequences for federal spending. Budget news often sounds apocalyptic, but the Medicare trend has been unexpectedly good for federal spending, saving taxpayers a huge amount relative to projections. “Without a doubt, this is the most important thing that has happened to the federal budget in the last 20 years,” said David Cutler, a professor of health policy and medicine at Harvard, who helped the Obama White House develop the Affordable Care Act. The reason for the per-person slowdown is a bit of a mystery. Scholars have been arguing about it for years, but no one seems sure enough to confidently predict whether it is likely to stick around for much longer." #CGHyltonInc #drugs

Medicare’s Per-Person Spending Slows Down! Well done! The payment reforms, not initially factored into the CBO's large savings, have indeed made a significant impact. Price controls, through reimbursement cuts, freezes and a decline in the hospitalization of 65+ Americans, such as strokes, heart attacks, etc. are the drivers. This is what @LarrySummers refers to as "curve bending." In 2011, Medicare per capita spending was $13,159, and in 2023, it's projected to be $12,459—quite remarkable. This represents a substantial $3.9 trillion reduction from expectations. #Medicarespending https://lnkd.in/esQD_Dhy

Very interesting read. I can recall some robust discussion back in 2007-2009 in grad school about this very topic and methods to prevent the dotted line from continuing. Transparency is key!

It is Monday, March 18th, 2024. Good Morning! Medicare Doc Pay Cut Eased as Biden Signs Federal Spending Bill. President Joe Biden signed into law a measure that softened – but did not completely eliminate – a 2024 cut in a key rate used to determine how physicians are paid for treating Medicare patients. While physician groups hailed the move as partial relief, they say they'll continue to press for broader changes in the Medicare physician fee schedule. The Medicare provision was tucked into a larger spending package approved last week by the US House and Senate. https://lnkd.in/eHNGbgW5 #MAB #CMBS #CPSP #MARA #MedicalBilling #Billing #Reimbursement #Credentials #Training #RemoteWork #Remote

The Affordable Care Act expanded coverage and made it more affordable. The recent improvements to the premium tax credit further reduced the cost of getting a plan, especially for people with low incomes. Now policymakers can build on that success by addressing affordability challenges that deter necessary care and create financial uncertainty. Check out a new Center on Budget report (https://lnkd.in/eQQyFNQc) -- the product of convening marketplace enrollees, assisters, health care advocates, and other experts to identify remaining affordability challenges and federal solutions. Job one: extend the enhanced premium tax credits and then tackle high deductibles and other pain points.