CMS Suspends Accelerated and Advance Payment Programs
CMS expanded the programs on March 28 to support Medicare providers experiencing cashflow problems as a result of COVID-19. CMS reports it has approved almost 24,000 applications advancing $40.4 billion in payments to Part B suppliers, including physicians. The terms of these temporary loans, however, were generally viewed as unfavorable and the medical community has been advocating for modifications.
Under current terms, the recoupment of any advance payment begins 120 days after payment issuance. During the recoupment period, CMS will retain the reimbursement amount that would normally be paid on new claims until the advance payment is repaid.
Physicians have 210 days from the date of the accelerated/advance payment to repay the balance without interest. The interest rate for an extended repayment period is 10.25 percent.
ASNC will inform you of any additional changes. Watch for the ASNC Flashpoint newsletter and special advocacy alerts.