The Center for Medicare & Medicaid Services (CMS) has recently announced an expansion of its accelerated and advance payment program to Medicare participating health care providers and suppliers to ensure they have the resources needed to fight the Coronavirus pandemic.
Accelerated and advance Medicare payments provide emergency funding and addresses cash flow issues based on historical payments 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. CMS has expanded 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.
To qualify for accelerated or advance payments, the provider or supplier must:
- Have billed Medicare for claims within 180 days immediately prior to the date of signature on the provider’s/ supplier’s request form,
- Not be in bankruptcy,
- Not be under active medical review or program integrity investigation, and
- Not have any outstanding delinquent Medicare overpayments.
Medicare will start accepting and processing the Accelerated/Advance Payment Requests immediately. CMS anticipates that the payments will be issued within seven days of the provider’s request.
An informational fact sheet on the accelerated/advance payment process and how to submit a request can be found [here].