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What's New in Medical Coding and Billing?

We take the time to stay up to date on industry standards and regulations in medical coding and billing so you don't have to.

2024 Medicare Part A and Part B Deductibles

11/5/2023

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Medicare Part B
The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023.

Medicare Part A Inpatient Hospital
The Medicare Part A inpatient deductible that beneficiaries pay if admitted to the hospital will be $1,632 in 2024, an increase of $32 from $1,600 in 2023. The Part A inpatient hospital deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period.
In 2024, beneficiaries must pay a coinsurance amount of:
  • $408 per day for the 61st through 90th day of a hospitalization ($400 in 2023) in a benefit period
  • $816 per day for lifetime reserve days ($800 in 2023).
Skilled Nursing Facility
For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $204.00 in 2024 ($200.00 in 2023).


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Delayed Work Comp or Auto No -Fault Claims Payment?

9/9/2023

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Are you struggling to get your Work Comp or Auto claims paid timely? Learn what you can do!
 Under Michigan’s Workers Compensation Rules: 
  • The provider should receive payment within 30 days.
  • If the practitioner does not receive payment within 30 days of submitting a properly completed bill to the carrier, the Rules say that the carrier must pay the maximum allowable payment, plus a 3% late fee.
  • The late fee due is paid one time and is not compounded. 

Under Michigan law [MCL 500.3142(2) and (3)]: 

Entity                                                       Interest Rate                                                   Notes
Worker's Comp                                           3%                                                               After 30 days (one time)
Auto No Fault                                             12% simple interest                                     After 30 days then 1% monthly
Health Insurance Carrier                           12% simple interest                                     After 45 days 




Sources:
Michigan Department of Insurance and Financial Services
Michigan Workers Compensation Agency
MCL 500.3142










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  • About Us
  • Contact
  • Medical Billing Services
  • Additional Services
  • Outsourcing vs In house billing
  • Credentialing
  • Provider Enrollment
  • Testimonials
  • Blog
  • Pricing