If you are a community-based doctor and the increasing cost of renting, leasing, or owning your office space is becoming a hassle, you may be eligible for an MSP premium.
As of April 1st, 2020, doctors who rent, lease, or own community-based offices can now receive a percentage premium on MSP fees for consultation, visit, counseling, and complete examination services.
To see if you’re eligible you’ll need to register for the Business Cost Premium (BCP) through the Health Insurance BC (HIBC) as they administer the premium on MSP’s behalf.
Important registration dates to make note of:
- If you register before July 31st, 2021, you can resubmit billing claims to receive retroactive BCP payment since April 1st, 2020.
- If you register on or after August 1st, 2021, you’re eligible to resubmit billing claims to receive retroactive BCP payment since April 1st, 2021.
Visit the BCP website for information including eligibility criteria, registration forms, and FAQs. If you have any questions about registration dates or retro-pay, don’t hesitate to reach out to our team for help.
This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.
Discover a Simpler Way to Bill
Try our medical billing software free for 45-days, no credit card required.
By entering my email address, I agree to receive promotional emails from Dr.Bill. I can unsubscribe at any time.