CMS to Offer Financial Relief – Three Month Advance to Providers

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CMS to Offer Financial Relief – Three Month Advance to Providers

On Saturday, March 28^th, through the expansion of its accelerated and advanced payment program, CMS announced that providers can now apply for a three month advance on Medicare payments in an effort to ensure all Medicare providers are supported during the COVID-19 emergency. CMS is accepting Payment Requests immediately and anticipates making payment within 7 days of receiving the request.

According to a press release from CMS, these accelerated and advance Medicare payments provide emergency funding when there is disruption in claims submission and/or claims processing. These expedited payments are typically offered in natural disasters to accelerate cash flow to the impacted health care providers and suppliers. In this situation, CMS is expanding the program for all Medicare providers throughout the country during the public health emergency related to COVID-19. The payments can be requested by hospitals, doctors, durable medical equipment suppliers and other Medicare Part A and Part B providers and suppliers.

Key provisions of this update include:

Qualified providers/suppliers are to apply through their local MAC’s website with most providers and suppliers able to request up to 100% of the Medicare payment amount for a three-month period.
Each MAC will work to review and issue payments within seven (7) calendar days of receiving the request.
Extended repayment of these accelerated/advance payments to begin 120 days after the date of issuance of the payment with special consideration for hospitals, and others.
Recoupment process will begin at the end of the 120-day period and every claim submitted by the provider/supplier will be offset from the new claims to repay the accelerated/advanced payment.

Read more about this program expansion here and view the CMS fact sheet for details:https://www.cms.gov/newsroom/press-releases/trump-administration-provides-financial-relief-medicare-providers

https://www.cms.gov/files/document/Accelerated-and-Advanced-Payments-Fact-Sheet.pdf

For a list of all current MACs:
https://www.cms.gov/Medicare/Medicare-Contracting/Medicare-Administrative-Contractors/Downloads/MACs-by-State-June-2019.pdf

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This post was first published March 29, 2020 and was updated July 29, 2020.

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