Heart of Health Policy | CMS Expands Accelerated/Advance Payment Program
The Centers for Medicare and Medicaid Services (CMS) has expanded the program for accelerated/advance payments to help improve Medicare providers' short-term financial footing and ensure necessary resources.
This funding could help practices meet commitments, but care should be taken to budget for payoff since advance payments are offset by future claims.
Providers can request a larger amount of funds (up to 100% of Medicare payments over a three-month period) to be repaid over a longer period of time (repayment begins 120 days and must complete 210 days after disbursement) under the revised program.
Providers, including hospitals, physicians, durable medical equipment suppliers, along with other A and B providers and suppliers, can qualify for advanced payments if the following requirements are met:
- Have billed Medicare for claims within 180 days immediately prior to the date of signature on the provider's/supplier's request form
- Not in bankruptcy
- Not under active medical review or program integrity investigation
- Not holding any outstanding delinquent Medicare overpayments
Keywords: ACC Publications, Cardiology Magazine, Health Policy, Centers for Medicare and Medicaid Services (U.S.), Centers for Medicare and Medicaid Services (U.S.), Medicare, Durable Medical Equipment, Bankruptcy, Medicaid, Budgets, Physicians, Hospitals
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