Applying for a Medicare number, commonly known as a PTAN (Provider Transaction Access Number), can be incredibly beneficial and difficult for Independent Pharmacies. This application can lead to more profits and allow for better patient care for senior patients but can also drive pharmacists crazy; the enrollment process can be lengthy, it can be challenging to determine which application to submit and confusing which sections to complete.
Medicare Application by the Numbers: Pharmacy Compliance Guide Summary
Applying for a Medicare number, also known as PTAN, can be time-consuming, confusing and quite daunting as there are almost 50 pages in the CMS 855B alone! First, you need to determine which application needs completed based on the services you hope to offer. Then the next challenge is to determine which sections need completed. Are there additional forms to complete, what extra documents need included, how and where to submit payment? Then the longest part, waiting to see if you have been approved or denied!
Be prepared to answer one of the biggest questions of the year on November 15th, the question of participating or non-participating. R.J. Hedges & Associates is providing you with a podcast, and blog as resources, so when November 15th rolls around you and your pharmacy are ready to decided what is best for you!
November 15th is on its way! That means there is less than two months for pharmacies to decide if they would like to move to non-participating status with Medicare reimbursements. It is time to learn (1) what participating is (2) how to do it and (3) the benefits of participating. Jeff Hedges, President and CEO of R. J. Hedges & Associates provides essential information in order for you to make the best decision for your pharmacy. Listen to his latest podcast so that when November 15th rolls around you will be confident in your choice!