To alleviate cash flow problems, the Centers for Medicare and Medicaid Services (CMS) is allowing Part A providers and Part B suppliers to request accelerated/advance Medicare payments.
A fact sheet on the program is available here. Most providers and suppliers will be able to request up to 100% of the Medicare payment amount for a three-month period. Inpatient acute care hospitals, children’s hospitals, and cancer hospitals are able to request up to 100% of the Medicare payment amount for a six-month period. Critical access hospitals (CAH) may request up to 125% of their payment amount for a six-month period. Providers and suppliers will continue to receive full payment for their submitted claims for a 120-day period. After 120 days, any amounts that would have otherwise been made to the provider or supplier will be offset by the advance payments. If any amounts are still owed one year after the accelerated payment was made, the Medicare Administrative Contractor (MAC) will request repayment of the remaining balance from acute care, children’s, cancer hospitals and CAHs. For all other Part A providers and Part B suppliers, this reconciliation process begin 210 days after the accelerated payment is made.
Please contact the Powers attorney with whom you normally work with any questions.