Q1 News from Genie Health
Digital MSK Trends and Legislative Updates
CMS PAYMENT CUTS REVERSED BY 50%Â
Practitioners have seen payment cuts repeatedly. Specific to the world of physical therapy, there have been drastic cuts with MPPR, PTA 15% cut, and the 2% sequester after COVID, and more small cuts every year.
With profit margins hovering at 3-15% for most physical therapy clinics, these cuts have been a serious blow to operations when the rising cost of delivering care is at an exponential pace and hard to overcome.Â
Congress did, however, pass a law, the Consolidated Appropriations Act, 2024 (H.R. 4366), that will reduce Medicare Part B cuts from 3.4% to 1.7% for the remainder of 2024. This is not a full win, but a win nonetheless!Â
AMA LOOKING INTO THE RPM/RTM CODESÂ
The San Diego AMA conference in February was supposed to address some possible additional and changing to RPM/RTM codes that made the use of these codes easier to deploy. The changes involve allowing less days of monitoring at a different code and rate. However, this was pushed off for now. Â
Meanwhile, we still contend that if any changes are to take place, we are advocating for:Â
- the 30-day data code and interaction codes line up together at 30-day cycles Â
- global period is NOT a factor in being reimbursed for RPM/RTM; What a more impactful time to stop re-admission than during the post-op period?Â
VALUE BASED CARE (VBC) COMING TO A LOW BOILÂ
More practices are “aware” of the need to pivot some of their strategies on VBC initiatives. Genie is full force and full steam ahead to make this a reality for our current and prospective partners. Â
Genie is helping our partners with:Â
- Episode of care bundles: lower their PAC spend Â
- Triage (Genie Navigator) patients to the right provider at the right timeÂ
- Pop Health MSK: shared risk, shared savings, control the full spectrum of care in value-based and evidence-based care pathways.Â