South Carolina's Medicaid agency announced Monday it plans to cut reimbursement rates paid to physicians, dentists and other medical providers, according to a Bloomberg Businessweek report.
The expected 2-7 percent cuts will occur next month, following 3 percent across-the-board cuts in April. According to the report, the April cuts are expected to save $38.6 million in 2011 and 2012; the additional cuts should save an extra $52.5 million.
The Medicaid agency also plans to increase patients' per-visit contributions by $1, making the total $3.30, the maximum co-pay allowed by federal law. The state also plans to save money by decreasing the number of Caesarean sections performed. South Carolina predicts the combined cost-cutting measures will save $125 million in the fiscal year starting July 1.
Read the Bloomberg Businessweek report on South Carolina Medicaid.
Related Articles on Coding, Billing and Collections:
CMS Announces Two National Version 5010 Testing Days
Preparing Your Surgery Center for ICD-10: Part 3
Connecticut Health Insurance Premiums Double Since 1999
The expected 2-7 percent cuts will occur next month, following 3 percent across-the-board cuts in April. According to the report, the April cuts are expected to save $38.6 million in 2011 and 2012; the additional cuts should save an extra $52.5 million.
The Medicaid agency also plans to increase patients' per-visit contributions by $1, making the total $3.30, the maximum co-pay allowed by federal law. The state also plans to save money by decreasing the number of Caesarean sections performed. South Carolina predicts the combined cost-cutting measures will save $125 million in the fiscal year starting July 1.
Read the Bloomberg Businessweek report on South Carolina Medicaid.
Related Articles on Coding, Billing and Collections:
CMS Announces Two National Version 5010 Testing Days
Preparing Your Surgery Center for ICD-10: Part 3
Connecticut Health Insurance Premiums Double Since 1999