CARES Act 2020 Passes!

What does the passage of the CARES Act 2020 mean to your practice?

We have been communicating with our Congressman regarding the CARES Act that was passed today in Washington, DC. His team shared the following information with us and we wanted to make sure to pass it along to all of you. Here are the highlights that we feel will affect all of our clients.

Sequestration Suspension

Starting May 1st to the end of 2020 the 2% sequestration reduction on all Medicare payments has been temporarily suspended.

Bonus for COVID-19 Care

20% increase in a Medicare add-on payment for providers treating patients admitted with COVID-19. This add-on payment will last through the duration of the emergency period.

For more details on what was included in the CARES Act and how it will affect healthcare payments call Medsoftware at (800)444-4570 to discuss how to leverage the CARES Act 2020 in your practice.