Federal Government Announced to offer advance Medicare payment

On 3/28, The federal government announced a plan to offer advance Medicare fee-for-service payments to all Medicare Part A and B providers impacted by the COVID-19 pandemic and offer them some financial relief. This type of accelerated reimbursement is allowed during certain situations, such as in the event of a natural disaster or other national emergency. To summarize, most providers who bill under Medicare Parts A and B can request up to 100% of their Medicare payment for a three-month period in advance, which will then be repaid via an automated recoupment process that begins 120 days from the date of payment request. Interested providers can apply directly to their Medicare Administrative Contractor (MAC) and payment is expected within 7 calendar days from the date of the request.

To be eligible for this assistance, you must meet the following:

1. Have billed Medicare for claims within 180 days immediately prior to the date of signature on the provider’s/supplier’s request form,

2. Not be in bankruptcy,

3. Not be under active medical review or program integrity investigation, and

4. Not have any outstanding delinquent Medicare overpayments. https://lnkd.in/eRc-Vy5On

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