I am considering accepting Medicare patients and need to know more about becoming a "Participating Provider".
What that means, what the advantages are, and how to enroll.
Participation in the Medicare program means you agree to accept assignment for all services provided to your patients who are Medicare beneficiaries. By accepting assignment you agree to accept the amount approved by Medicare as total payment for covered services.
Some advantages to becoming a Participating Provider (PAR) are:
- 5% higher fee schedule
- Automatic forwarding of supplemental claims to secondary insurers
- 20% copayment and reduced out-of-pocket expenses for your patients