On January 26, the Centers for Medicare & Medicaid Services (CMS) announced it was extending the Final Reconciliation for Payment Year 2017 Risk Adjustment Processing System (RAPS) data submissions to May 4, 2018. The originally reported deadline of January 31 remains as an Interim Final Reconciliation.
CMS noted the extension is due to recent “extreme weather events” that have made the collection and submission of RAPS data more difficult.
Medicare Advantage organizations should use the deadline extension as a golden opportunity to review and reevaluate their RAPS data submissions for accuracy and completeness. Submitting incomplete data can lead to big issues, including revenue loss stemming from inaccurate risk scores and expensive RADV audits.
Payers often do these retrospective reviews manually, making them time consuming and costly - and HCC codes can still be missed. Now is the time for Medicare Advantage plans to explore how technology-enabled solutions can streamline this cumbersome process, so coders can uncover documentation gaps and missed codes with more speed and improved accuracy.