CMS PAR vs NonPAR Comparison: Should I be a NonParticipating Provider

Choosing between a participating Medicare provider and non-participating Medicare provider can be challenging. The appeal of added reimbursement is attractive, but it is important for physical therapists to recognize that even as a nonPAR provider you are still required to submit claims on your patient's behalf, you are still subject to all of the same compliance regulations, and you have the added burden of collecting payments from your patient.
I recently shared the following in a Facebook post:
Keep in mind, even though you may collect up to 115% of the NonPAR allowed amount, you have other expenses associated with this.
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For example:
✅ - You may be paying a credit card processor 2.5% of every payment.
✅ - You may be paying an admin person or taking your own time to collect these payments.
✅ - You may be making trips to the bank, time handling checks, time and postage sending invoices, time with follow up calls seeking payment.
✅ - You may experience delinquent or default accounts. If 1 person doesn't pay 1 claim and you lose $100 that accounts for a 10% loss across the next 10 claims.
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I believe the greatest loss you will experience is the loss of trust. To a beneficiary you are saying "I DON'T participate with Medicare." That sounds extremely negative and is a level of trust that must be re-established.
Novitas Reference: www.novitas-solutions.com/web...
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Total Therapy Solutions
5900 Long Meadow Dr
Middletown, OH 45005

[@terri.elder.dptwcs]

Thanks so much for making this video and the great explanation ( and even stating your bias haha)! Somehow I'm still having a hard time deciding...

[@LearnMedicareBilling]

What did you decide? It has been a month.

[@terri.elder.dptwcs]

@@LearnMedicareBilling Drumroll.......Par!