Your Patient’s Medicare

All patient medicare plans are the same to you, right?

No, actually. There are three basic medicare plans and it may enable your practice to provide better care, get easier reimbursements, and retain patients year over year if you know a little bit more about the patient-facing side of medicare. 

There is a win-win to keeping abreast of both sides of the medicare fence. In most medical practices, the familiarity with medicare ends with billing and coding. While that is a key priority to practice survival, it is also important to know which of the three major plans best serves the needs of your patient. 

Recently, many practitioners are partnering with independent medicare agents to assist their patients in their medicare plan selection. Patients then remain in-network and better covered. 

Would it be helpful to have a link to their formulary in their EMR? Do you think that would help them maintain their budget and enable them to use the medicine you prescribe? Would that eliminate the frustration of the patient who comes back in 90 days in worse shape because they couldn’t afford to fill the script (and were too embarrassed to call in and let you know)? Would that elevate your outcomes data by several points? How much does your reimbursement go up with elevated outcomes data? 

There are six key questions that will enable you to provide better care, control Rx costs for your patient, properly stock the Rx sample closet, get paid in a timely manner, and retain patients. Win-win-win. 

Let’s ask them and make your life easier. 

?2021 Ronda Cobb, the Money Coach

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