VANCOUVER, BC, Dec. 22, 2020
/CNW/ - CRH Medical Corporation ("CRH", or the
"Company") (TSX: CRH) (NYSE MKT: CRHM) today commented on
the COVID-19 relief bill passed yesterday by the United States
Congress.
Lawmakers included the long-awaited surprise billing legislation
into the relief bill. The surprise billing legislation has three
important components that are scheduled to go into effect in
2022:
- The legislation allows for a 30-day period whereby the insurer
and provider can negotiate payment for any out-of-network
claims.
- If these negotiations are not successful, then the next step
would be third-party arbitration.
- In the event of arbitration, an arbitrator is not required to
consider a geographic benchmark payment level, and is prohibited
from factoring in Medicare and Medicaid rates when determining
out-of-network payment.
"We expect the provider-friendly language of the recently passed
surprise billing legislation will serve to meaningfully advance our
contracting negotiations with payors in a manner that will more
fairly reflect the value of the services we provide to our
patients," noted Dr. Tushar Ramani,
Chief Executive Officer of CRH. "As a reminder, our payor
contracting effort is a key part of our larger strategy to minimize
our non-contracted revenue exposure, which we view as positively
impacting future revenue and profit visibility."
About CRH Medical Corporation:
CRH Medical Corporation is a North American company focused on
providing gastroenterologists throughout the United States with innovative services and
products for the treatment of gastrointestinal diseases. In 2014,
CRH became a full-service gastroenterology anesthesia company that
provides anesthesia services for patients undergoing endoscopic
procedures in ambulatory surgical centers. To date, CRH has
completed 31 anesthesia acquisitions, and now serves 68 ambulatory
surgical centers in 13 states. In addition, CRH owns the CRH
O'Regan System, a single-use, disposable, hemorrhoid banding
technology that is safe and highly effective in treating all grades
of hemorrhoids. CRH distributes the O'Regan System, treatment
protocols, operational and marketing expertise as a complete,
turnkey package directly to gastroenterology practices, creating
meaningful relationships with the gastroenterologists it serves.
CRH's O'Regan System is currently used in all 48 lower US
states.
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SOURCE CRH Medical Corporation