The end of year brings joy and happiness, but it can also be a very busy time for the revenue cycle and finance teams conducting year end closes. Our goal is to keep the information simple and are here to remind you of our Quarterly Update Tool. CMS has published the majority of files for you to start reviewing changes effective January 1, 2022.
The Quarterly Update Tool highlights where the information is located that will be published by CMS. Followed by a column “Action to Take” that describes how and what to evaluate with each published file. CMS publishes this information and files sporadically; thus, the checklist serves as a tool for users to understand who and when the files were reviewed and acted upon.
Recall CMS updates HCPCS on a calendar quarterly basis. All changes should be updated in the electronic health record by the start of the quarter, also known as the effective date: January 1, April 1, July 1, and October 1.
Pharmacy and Revenue Integrity Teams collaborate to designate a point person(s) that can help monitor for updates and coordinate changes in the health record by the effective date. The Quarterly Update Tool is here to help!
To All! Have a happy and safe holiday!
Our goal is simple; we’re taking complex information and making it practical.
Until our next edition, this is Maxie Friemel and Agatha Nolen providing you with tips for increasing your Pharmacy Revenue.