Annually the Centers for Medicare and Medicaid (CMS) provide physicians with an option to change their Medicare participation status. The deadline for 2012 has been extended through February 14, however the effective date is January 1. This is the result of the anticipated change to the Medicare payment rates expected to come from Congress. Physicians can select one of three options:

• Accept Medicare's allowed charges as payment in full by signing a participation agreement.
• Select non-participation, permitting them to make assignment decisions on a case-by-case basis and bill patients for more than Medicare allowances for unassigned claims.
• Agree to bill patients directly and forego any payments from Medicare to the patients or themselves, by becoming a private-contracting physician.

For additional information visit the AMA's online Medicare Participation Guide.