Question: This assignment will assess the competency 1. Analyze the principles of business organization as found in the healthcare environment.
Directions: You have several known issues as it relates to Medicare payment. Review the attached
LP2.2 Practice Financial Assignment.
Review the Adobe Connect Financial Video on Participating Physicians https://online.adobeconnect.com/p6342b0tf9v/ and Non-Participating Physicians https://online.adobeconnect.com/p48trox0n6o/ and the Medicare Payment Transcript prior to completing this assignment.
In a word document, work out the financial problems using the information from the scenarios provided below. To earn full credit you must show all your work.
1) A non-participating physician provides services to a Medicare patient who has total charges of $100 (before Medicare's limiting charge is applied). The physician does not accept assignment, charges the maximum allowable, and submits the claim to Medicare. Assume Medicare's approved schedule for these services is $80.
a. What is the Medicare portion of the physician payment (which Medicare sends to the patient)?
b. What is the patient's portion of the payment to the physician (net of the reimbursement from Medicare in the previous question)?
2) A participating physician's charges for tonsillectomy is $5000. The Medicare approved fee schedule is $3000.
a. What cost does Medicare pay out?
b. What cost does the patient pay out?
3) A non-participating physician charges $200 for a procedure. The Medicare approved fee schedule is $150. The physician accepts the fee schedule.
a. What cost does Medicare pay out?
b. What cost does the patient pay out?
Answer all questions, show full answer and all reference must be APA format, only scholar source or journal articles.