The Centers for Medicare & Medicaid Services (CMS) is authorizing accelerated and advance payments of Medicare with qualification requirements.
SUMMARY: As part of the CARES Act, the Centers for Medicare & Medicaid Services (CMS) is authorizing accelerated and advance payments to any Medicare physicians, provider or supplier who submits a request to the appropriate Medicare Administrative Contractor (MAC) and meets the qualification requirements. The Accelerated and Advance Payment Program is for the duration of COVID-19.
To qualify for advance/accelerated payments physicians, providers or suppliers must:
- Have billed Medicare for claims within 180 days immediately prior to the date of signature on the physician’s request form
- Not be in bankruptcy
- Not be under active medical review or program integrity investigation
- Not have any outstanding delinquent Medicare overpayments
Amount of payment for physicians: Qualifying physicians can request up to 100% of the Medicare payment for a previous three-month period. This can be a good faith estimate. Inpatient acute care hospitals, children’s hospitals, and certain cancer hospitals can request up to 100% of the Medicare payment amount for a six-month period. Critical Access Hospitals (CAH) can request up to 125% of their payment amount for a six-month period.
CMS Accelerated Payments Processing time
Determined by each MAC but expected to be issued within 7 calendar days of receipt of the request.
CMS Accelerated Repayments
CMS has extended the repayment of these accelerated/advance payments to begin 120 days after the date of issuance of the payment. Physicians billing under Part B will have 210 days from the date of the accelerated or advance payment was made to repay the balance.
Inpatient acute care hospitals, children’s hospitals, certain cancer hospitals, and Critical Access Hospitals (CAH) have up to one year from the date the accelerated payment was made to repay the balance. All other Part A providers and Part B suppliers will have 210 days from the date of the accelerated or advance payment was made to repay the balance.
Thank you to our partners at Anders CPAs + Advisors at anderscpa.com for this timely information. Please visit CMS.gov, contact AndersCPA.com or contact us for more information.
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