EDITOR’S NOTE: Federal legislators have been scrambling this week amid inter- and intra-party squabbles to craft legislation that would avoid a partial shutdown of the federal government as soon as today, when employees would begin enduring furloughs if an agreement isn’t struck.
There is a lot of misunderstanding about the federal debt limit. The debt ceiling or debt limit is an actual limit, imposed by legislation, on the amount of national debt that can be incurred by the U.S. Treasury. It limits how much money the federal government can borrow.
The debt ceiling is an aggregate figure that applies to the gross debt, which includes debt in treasury bonds held by the public.
How did this all start? Well, prior to 1917, when the federal government issued bonds or other debt instruments, it also had to approve legislation authorizing the government to accept responsibility for the debt. As you can imagine, this became a cumbersome process.
In 1917, Congress adopted the Second Liberty Bonds Act, which created an aggregate federal debt limit for bonds. In 1939, the Public Debt Act expanded the debt limit to what we see today.
There is a real misunderstanding about what spending is covered under the federal debt limit. Some think that refusing to raise the debt limit will prevent upcoming legislation. But the debt ceiling applies to federal spending that has already been approved.
I like this analogy: say you decide not to increase your personal debt. You storm around the house, waving your credit card bills around. At the end of the month, your credit card statements come in, and the balances increased, because prior to your current upset, you went to dinner at a nice restaurant and bought a new cell phone.
There are a couple simple solutions to the debt ceiling, but to pass federal budgets and then refuse to pay the debt is like buying something on your credit card then refusing to pay the bill because it is “just too darn high.” When we do this, creditors lower our credit rating, or cancel our ability to use our cards. The impacts on our country to refusing to raise the debt limit are just as painful.
Does failure to raise the debt ceiling mean the federal government shuts down? Not really. The federal government will continue to incur debt. It means that the treasury department will have to begin making cuts that includes things like employee furloughs. Medicare claims and social security payments will certainly continue. If there are cuts, it will almost certainly hurt federal employees and local economies. Cuts would also impact “faith and trust” in our ability to make payments for goods and government services.
Programming Note: Listen to Timothy Powell’s live reports every Tuesday, on Talk Ten Tuesdays, 10 Eastern.
Readers last week surely noted my coverage of a few of the key regulatory initiatives the Biden Administration intends to undertake during the last part
A recent newswire story appears to be making its way among worried providers, stirring up considerable concern. Last week the story, published by the Associated
Please log in to your account to comment on this article.
Prepare your organization for the 2025 OPPS updates with expert insights from Tiffani Bouchard, CCS, CRCR, a Revenue Integrity Professional with over 30 years of experience. This webcast will address critical challenges in charge capture and coding, providing clarity on APC policies, C-APC packaging, exclusions, and payer-specific requirements. Attendees will learn actionable strategies to ensure compliance, optimize reimbursement, and mitigate risks of claim denials. Gain the knowledge needed to implement updates effectively, educate your team, and maintain seamless revenue cycle operations in the face of evolving OPPS complexities.
Join Beth Wolf, MD, CPC, CCDS, for an in-depth webcast on the FY2025 spinal fusion MS-DRG updates. Discover key changes in DRG classification, understand impacts on documentation and CMI, and learn strategies to ensure compliance.
Join Angela Comfort, DBA, MBA, RHIA, CDIP, CCS, CCS-P, as she presents effective strategies to strengthen collaboration between CDI, coding, and quality departments in acute care hospitals. Angela will also share guidance on implementing cross-departmental meetings, using shared KPIs, and engaging leadership to foster a culture of collaboration. Attendees will gain actionable tools to optimize documentation accuracy, elevate quality metrics, and drive a unified approach to healthcare goals, ultimately enhancing both patient outcomes and organizational performance.
Optimize your outpatient clinical documentation and gain comprehensive knowledge from foundational practices to advanced technologies, ensuring improved patient care and organizational and financial success. This webcast bundle provides a holistic approach to outpatient CDI, empowering you to implement best practices from the ground up and leverage advanced strategies for superior results. You will gain actionable insights to improve documentation quality, patient care, compliance, and financial outcomes.
The 2025 Medicare Physician Fee Schedule brings significant changes to payment rates, coverage, and coding for physician services, impacting practices nationwide. Join Stanley Nachimson, MS., as he provides a comprehensive guide to understanding these updates, offering actionable insights on new Medicare-covered services, revised coding rules, and payment policies effective January 1. Learn how to adapt your practices to maintain compliance, maximize reimbursement, and plan for revenue in 2025. Whether you’re a physician, coder, or financial staff member, this session equips you with the tools to navigate Medicare’s evolving requirements confidently and efficiently.
Dr. Ronald Hirsch provides critical details on the new Medicare Appeal Process for Status Changes for patients whose status changes during their hospital stay. He also delves into other scenarios of hospital patients receiving custodial care or medically unnecessary services where patient notifications may be needed along with the processes necessary to ensure compliance with state and federal guidance.
Healthcare organizations face complex regulatory requirements under the No Surprises Act and Price Transparency rules. These policies mandate extensive fee disclosures across settings, and confusion is widespread—many hospitals remain unaware they must post every contracted rate. Non-compliance could lead to costly penalties, financial loss, and legal risks. Join David M. Glaser Esq. as he shows you how to navigate these regulations effectively.
Protect your facility from unwanted audits! Join Becky Jacobsen, BSN, RN, MBS, CCS-P, CPC, CPEDC, CBCS, CEMC, and take a deep dive into both the CMS and AMA guidelines for reporting post operative pain blocks. You’ll learn how to determine if the nerve block is separately codable with real life examples for better understanding. Becky will also cover how to evaluate whether documentation supports medical necessity, offer recommendations for stronger documentation practices, and provide guidance on educating providers about documentation requirements. She’ll include a discussion of appropriate modifier and diagnosis coding assignment so that you can be confident that your billing of post operative pain blocks is fully supported and compliant.
Copyright © 2025 RACmonitor. Powered by MedLearn Media.
Get 15% OFF on all educational webcasts at ICD10monitor with code JULYFOURTH24 until July 4, 2024—start learning today!
Happy National Doctor’s Day! Learn how to get a complimentary webcast on ‘Decoding Social Admissions’ as a token of our heartfelt appreciation! Click here to learn more →
CYBER WEEK IS HERE! Don’t miss your chance to get 20% off now until Dec. 2 with code CYBER24
