30 Mar Medicare Providers to receive accelerated financial relief
Centers for Medicare & Medicaid Services (CMS) announced an expansion of its accelerated and advance payment program for Medicare-participating health care providers and suppliers to ensure they have the resources needed to combat COVID-19.
The accelerated Medicare payments provide emergency funding and address cash flow issues based on actual payments when there is a disruption in claims submission or processing. These expedited payments are typically offered in natural disasters to accelerate cash flow to the impacted health care providers and suppliers. In these circumstances, CMS is broadening the program for all Medicare providers throughout the country during the public health emergency related to COVID-19. Hospitals, doctors, durable medical equipment suppliers, and other Medicare Part A and Part B providers and suppliers can request payment. To qualify for accelerated or advance payments, the provider or supplier must:
- Have billed Medicare for claims within 180 days immediately before the date of signature on the provider’s/ supplier’s request form
- Not be in bankruptcy,
- Not be under active medical review or program integrity investigation
- Not have any outstanding delinquent Medicare overpayments.
Medicare will start accepting and processing the Accelerated/Advance Payment Requests immediately. CMS anticipates that the payments will be issued within seven days of the provider’s request. An informational fact sheet on the accelerated/advance payment process and how to submit a claim can be found here: www.cms.gov/files/document/Accelerated-and-Advanced-Payments-Fact-Sheet.pdf.
For a complete and updated list of CMS actions, and other information specific to CMS, please visit the Current Emergencies Website.
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