One more detail that was buried within the Healthcare reform bill, found in section 9006, is the requirement for every business to file a 1099-MISC form for each vendor from which the business purchases good or services of more than $600 in any calendar year. The purpose of this section is to collect an approximated $2 billion a year in lost tax revenue on income that is not reported to the IRS. While the goal of collecting all legitimate tax revenue is praiseworthy, this is not a very effective way to achieve this goal.

Are you ready for the increased scrutiny that is (actually, already has been) coming to try to reduce the payments to providers and hospitals under the laws that require Medicare to be budget neutral. (Why Medicare is singled out to actually adhere to budget neutrality is another topic altogether). In order to achieve budget neutrality Medicare will increase premiums, raise deductibles, and increase recovery of ‘over payment’ to providers. In today’s political climate, with the economy struggling, and liberals running full speed toward socialism, who do you think will bear the brunt of these changes in paying for Medicare? The poor, elderly Medicare recipient, or the rich, greedy Provider?

As you have probably noticed, and as was discussed last time, audits are being performed more frequently and more aggressively. One very effective solution to this potential nightmare is utilizing Electronic Health Records (EHR) to document the care provided by the physician. The use of EHR’s will simplify the record keeping required by the new healthcare reform bill, and when properly used in your office will substantially lower your paperwork time and claim rejection percentage.

Since the government is going to take more control of the healthcare system in the US (despite all their claims to the contrary), you’re going to see more and more cost cutting measures in the delivery of healthcare to everyone. One area where changes are going to take place is the expansion of procedures allowed to be performed by nurses, technicians, and other para-medical providers.