What does it mean when a physician or medical supplier accepts assignment?

When a physician or medical supplier accepts assignment, it signifies that they agree to the terms and conditions set by Medicare regarding payments. Specifically, this means they will accept the Medicare-approved amount as full payment for their services or items provided to patients. This is beneficial for patients because it ensures that they will only need to pay any applicable deductibles or coinsurance rather than the full billed amount, which may be higher than what Medicare allows.

By accepting assignment, providers also streamline the billing process since Medicare directly pays them the approved amount, reducing the need for patients to handle large bills upfront. It indicates the provider's commitment to adhere to Medicare regulations, making healthcare more accessible and affordable for patients covered by Medicare.