APTA: CMS announces dates for holding claims

Mar 2 2010

(U.S. Physical Therapy) The American Physical Therapy Association (APTA) reported on its website (APTA.org) on Friday, February 26, 2010 that “The Centers for Medicare and Medicaid Services (CMS) announced that it will hold claims for the first 10 business days of March. The hold will apply to claims with dates of service of March 1, 2010 through March 12, 2010. Claims with dates of service of January 1, 2010-February 28, 2010 will continue to be paid based on the 0% update approved by Congress. CMS will hold claims in an effort to avoid payment and service disruptions anticipated as a result of the 21.2% fee schedule reductions that are effective March 1, 2010. This hold is also designed to provide Congress with additional time to pass legislation to avert the 21.2% reduction in fee schedule payments.”

Medicare currently accounts for approximately 22% of U.S. Physical Therapy patient billings. Approximately 59% of the Company’s patient fees are reimbursed from private healthcare insurance plans, 15% is billed to workers compensation and 4% to other payors.

U.S. Physical Therapy will release results for the year 2009 on March 4, 2010 and has an investor conference call scheduled at 10:30 am Eastern Time, 9:30 am Central Time. Interested parties may participate in the call by dialing 1-888-335-5539 or 973-582-2857 and enter reservation number 50754132 approximately 10 minutes before the call is scheduled to begin. To listen to the live call via web-cast, go to the Company's website at www.usph.com at least 15 minutes early to register, download and install any necessary audio software. The conference call will be archived and can be accessed for approximately 120 days at this website.