Top Ten (or Eleven) 2020 Year-End Reminders for Chiropractic Physicians
Although the list below is not exhaustive, it does contain many of the critical deadlines and vital tasks for the end of 2020. Please take a moment to ensure you have all your bases covered.
Take the time to update the posters in your office. Although you may rely on posters purchased from your favorite office supply store, the mandatory posters are available at no charge. The Illinois Chiropractic Society has developed a checklist for your office that includes links to the necessary posters and related requirements. For a full listing, please see our FAQ titled “What posters/information am I required to hang in my office? Do I have to pay for them?“
New ABN Form:
HHS has released a NEW ABN form for Medicare Part B and it becomes mandatory on January 1, 2021. Please verify you are utilizing the correct ABN. Here is a video that discusses the proper timing for issuing an ABN form.
Non-participating Medicare providers must make changes to the form. This video here explains those changes.
Medical Corporations, Professional Service Corporations & Professional Limited Liability Companies:
When was the last time that you renewed your entity registration? If you are not certain, you should check to ensure that it is not expired. MANY chiropractic physicians have missed this step (both the original registration and the renewal) with their business entities and are out of compliance.
Even though a few properly registered or renewed since 2019, significant problems could arise for those entities that were not properly renewed (or even registered) in the past. Therefore, any corporate or PLLC license that was previously nonrenewed remains in nonrenewed status, risking challenges to your reimbursements and payments.
If you are not certain that your entity is registered or in active status, you should verify at IDFPR (Select Medical Corporation or Professional Service Corporation and enter your entity name then ensure that it does not say “NOT RENEWED”). If you have further questions about registration, please read this article.
Complete the IDFPR entity renewal registration here.
Do not skip this simple verification!
Obtain revised fee schedules from insurance carriers and update reimbursement changes in your billing systems. However, please know that the recently released Medicare fee schedule MAY change if Congress takes action on the draconian cuts (see alert for more information and to take action).
Pay your Illinois Chiropractic Society dues for 2021 in 2020, if you have not already mailed your payment. ICS dues are not deductible as a charitable contribution for federal income tax purposes, but your dues are partially deductible as a business expense. ICS estimates that 90% of your dues may be deductible, as the 10% reduction is due to ICS’s direct lobbying activities on behalf of its members. You can pay those dues online here.
Employee Sexual Harassment Prevention Training:
Have you taken two DIFFERENT sexual harassment prevention training courses? If not, then you must complete the employee mandated training for both you and your entire staff by December 31, 2020 (in addition to the course required for your license renewal in September 2020). This course is available for free through the Illinois Department of Human Services. More information about the course and a link to the free course can be found here.
Any changes to your Medicare participation must be made by January 31, 2021. Physicians who want to change their status from participating to non-participating must do so by that date. Here is the link to PECOS, which is the best way to modify your participation status. If you are not changing your participation status, then do nothing. The extended deadline to January happened due to the late release of the 2021 fee schedule (see alert for more information and to take action).
Review your PPO contracts and insurance company medical policies. Now is a great time to take an inventory of the specific provisions in the contracts you have signed that affect your everyday office operations. Additionally, the ICS encourages our members to review insurance company medical policies regularly. Many of these policies are available online and are searchable by CPT code and diagnosis code. Knowing exactly the terms to which you have agreed is paramount to a successful practice.
Minimum Wage Increases:
Don’t forget that the State’s minimum wage increases to $11 per hour on January 1, 2021. This is part of a series of yearly step increases that will raise Illinois’ minimum wage to $15/hour by 2025. Your payroll must be updated to reflect the increase.
For details on the implementation of the State’s minimum wage legislation, click here.
Health Insurance Quotes:
Don’t simply accept the premium increase you may have received from your health insurance carrier. Talk to your agent to determine if there is a similar plan or a different health insurer with more competitive rates.
Now may also be the time to find out if there are significant savings available through the ICS’ member plan. Find out more here about how many ICS members are saving between $3,000 and $12,000 a year.
If you are determining where to make your last-minute charitable donations for 2020, ChiroCongress Cares and the Foundation for Chiropractic Education (501c3 sister of the Foundation for Chiropractic Progress) are both worth considering.