Physician Laboratory Fees were retroactively increased effective April 1st, 2020 will appear on the May 2021 Remittance Advice. Here are the changes:
|Fee Code||Previous value||New value|
Medical Claims Payment Adjustment
All codes with service dates between April 1st, 2020 and March 31st, 2021 will be adjusted with explanatory codes ‘55-This deduction is an adjustment on an earlier account (system generated negate)’ and ‘57-This payment is an adjustment on an earlier account’.
Staying up to date on these adjustments will ensure you’re being paid as expected. If you have any questions about this update, please get in touch.
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.
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