According to the CMS Final Rule for 2014, CMS finalized a policy to revalue codes found on the Clinical Laboratory Fee Schedule (CLFS). The original plan called for revaluation of 250 codes each year for the next 5 years; however, the Final Rule stated that CMS is altering this approach. Instead, CMS intends to conduct data analysis to identify codes for review and also allow the public to nominate codes. Unfortunately, there was not a set cap on the number of codes allowed for review annually outlined in the Final Rule. CMS stated that codes may be valued lower or higher after the reviews, which are said to be adjusted based off of changes in technology. A December edition of the National Intelligence Report (published by G2) estimated a 0.75% negative update to the CLFS along with the 2% reduction due to sequestration; providing an overall cut of 2.75%.
APS stepped in and took control of the transition and generated normal collections in our second month, improving billing, which is a huge accomplishment for our business.