{"id":22570,"date":"2024-09-25T13:44:34","date_gmt":"2024-09-25T13:44:34","guid":{"rendered":"https:\/\/www.varshabi.com\/HCIM2\/?p=22570"},"modified":"2024-10-08T19:47:45","modified_gmt":"2024-10-08T19:47:45","slug":"how-symkey-simplifies-sequestration","status":"publish","type":"post","link":"https:\/\/www.varshabi.com\/HCIM2\/how-symkey-simplifies-sequestration\/","title":{"rendered":"How SymKey Simplifies Sequestration"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"22570\" class=\"elementor elementor-22570\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a00fbf9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a00fbf9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-953a2e3\" data-id=\"953a2e3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1950cd9 elementor-widget elementor-widget-text-editor\" data-id=\"1950cd9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Sequestration, a common hurdle for any healthcare payer under Medicare&#8217;s Fee-for-Service (FFS) program, often involves tedious manual processes. Let&#8217;s delve into this challenge and discover how SymKey frees you from this time-consuming burden.<\/p><p><strong>What is Sequestration?<\/strong> Simply put, it&#8217;s a federal budget control measure that reduces the amount Medicare pays to providers through mandatory reductions to provider payments for Medicare FFS claims.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-770813c elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"770813c\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-669bd19\" data-id=\"669bd19\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-12478ef elementor-widget elementor-widget-text-editor\" data-id=\"12478ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em>An enforcement mechanism for three budget enforcement rules created by the Statutory Pay-As-You-Go Act of 2010 (Statutory PAYGO; P.L. 111-139), the Budget Control Act of 2011 (BCA; P.L. 112-25), and the Fiscal Responsibility Act of 2023 (FRA; P.L. 118-5).\u00a0 Subsequent legislation extended sequestration for mandatory spending through FY2031 and the sequestration of only Medicare benefit payments spending through FY2032. CMS does not dictate payment arrangements between Medicare Advantage Organizations (MAOs) and providers; these are based on the terms of their contracts. <\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-0dc957f elementor-widget elementor-widget-text-editor\" data-id=\"0dc957f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Sequestration processes often require significant time and manual effort requiring staff to re-enter a claim and\/or adjust it after it has been paid. Given timely compliance regulations, it is not feasible to hold payment of a claim while waiting for CMS updates to the correct sequestration. This means that all too often, payers must pay claims they know will eventually need to be reprocessed, in some cases manually.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f773f4 elementor-widget elementor-widget-heading\" data-id=\"1f773f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">HCIM's Role in Simplifying This Complexity: <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e21c6a9 elementor-widget elementor-widget-text-editor\" data-id=\"e21c6a9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>HCIM is here to help you navigate the intricate landscape of Medicare sequestration.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-102bcdc elementor-widget elementor-widget-heading\" data-id=\"102bcdc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">SymKey's Automated Solution:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fde6769 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"fde6769\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-circle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Accurate Calculation:<\/b> If sequestration is not applied automatically to unpaid claims, SymKey can calculate the correct amount and apply it along with required adjustment codes.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-circle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Automated Workflow:<\/b> If sequestration was not applied to claims that have already been paid, SymKey can reprocess the paid claim to apply the sequestration amount, the adjustment code for the sequestration, and applicable notes to the claim. <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-circle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><b>Correct Sequence: <\/b> SymKey queries are written and executed, and if there are more than one, they will run in specific order. <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-134bbff elementor-widget elementor-widget-text-editor\" data-id=\"134bbff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>By harnessing the power of IntelliRPA\u00ae automation, SymKey users can effectively manage the complexities of Medicare sequestration, turning potential manual headaches into a smooth process.\u00a0<\/p><p>Ready to simplify sequestration and enhance your operational efficiency? Discover how HCIM can transform your claims processing. Contact us today to learn more and get started!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04a8c27 elementor-widget elementor-widget-spacer\" data-id=\"04a8c27\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e045acd elementor-widget elementor-widget-spacer\" data-id=\"e045acd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Sequestration, a common hurdle for any healthcare payer under Medicare&#8217;s Fee-for-Service (FFS) program, often involves tedious manual processes. Let&#8217;s delve into this challenge and discover how SymKey frees you from this time-consuming burden. What is Sequestration? Simply put, it&#8217;s a federal budget control measure that reduces the amount Medicare pays to providers through mandatory reductions [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22613,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,14],"tags":[57,106],"class_list":["post-22570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare-information-management","category-symkey","tag-hcim","tag-sequestration"],"_links":{"self":[{"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/posts\/22570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/comments?post=22570"}],"version-history":[{"count":10,"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/posts\/22570\/revisions"}],"predecessor-version":[{"id":22713,"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/posts\/22570\/revisions\/22713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/media\/22613"}],"wp:attachment":[{"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/media?parent=22570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/categories?post=22570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.varshabi.com\/HCIM2\/wp-json\/wp\/v2\/tags?post=22570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}