Physician Medicare Patient Prescription Plan

Written and Reviewed by Reed Tinsley | December 22, 2005

From the Garlo Ward P.C. healthcare blog: http://garloward.com/index.php

Medicare's New Prescription Drug Program for Long-Term Care Providers

Medicare’s new prescription drug program goes into effect in less that two weeks, and pharmacies and nursing homes are making preparations. About 41 million eligible Medicare beneficiaries will get to select plans that will cover part of the prescription drug costs.

As I’ve written before, long term care providers are concerned that elderly patients, many of whom have cognitive problems, may not have the ability to make informed choices about coverage.

“None of the residents in my facility can make that choice,” Tracie Murray, administrator of Cedar Crest Nursing and Rehabilitation Center in Sunnyvale, told the San Francisco Chronicle. Long term providers face a dilemma. Many of their elderly patients won’t be able to select plans on their own, yet Medicare prohibits staff from assisting, citing potential conflicts of interest.

If patients are “dual eligibles,” the decision has been made for them. Two-thirds of nursing home residents will be eligible for coverage under Medicare and Medicaid. According to Medical News Today, the Centers for Medicare and Medicaid has randomly assigned all dual eligibles to a Medicare drug plan.

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.

Have questions? I’m here to help.