Medicare check amounts will soon plummet as the DME MACs begin to offset advance payments made to suppliers in the wake of the COVID-19 outbreak. Between March 28 and April 26 of this year, CMS approved over 24,000 applications and advanced $40.4 billion in accelerated payments to doctors, practitioners, and DME suppliers.
Unlike Provider Relief General Disbursement funds, accelerated payments are loans with very aggressive repayment terms. Due 120 days after receipt, the first accelerated payment loans mature in late July. The DME MACs will keep 100% of Medicare payments until the advance is repaid in full.
If the balance is not satisfied by the end of the 3-month offset window, CMS will request direct payment of the remaining balance. Hopefully, higher-than-expected sales and other funding through PPP and Provider Relief allowed borrowers to hold on to advance payments so that money can be used during the offsets to preserve cash flow.
For questions about accelerated payments, suppliers can contact:
SOURCE LINKS
https://cgsmedicare.com/articles/cope16934.html
https://www.cms.gov/files/document/Accelerated-and-Advanced-Payments-Fact-Sheet.pdf
Unlike Provider Relief General Disbursement funds, accelerated payments are loans with very aggressive repayment terms. Due 120 days after receipt, the first accelerated payment loans mature in late July. The DME MACs will keep 100% of Medicare payments until the advance is repaid in full.
If the balance is not satisfied by the end of the 3-month offset window, CMS will request direct payment of the remaining balance. Hopefully, higher-than-expected sales and other funding through PPP and Provider Relief allowed borrowers to hold on to advance payments so that money can be used during the offsets to preserve cash flow.
For questions about accelerated payments, suppliers can contact:
- CGS at 855-769-9920 (Jurisdictions B and C).
- Noridian at 866-575-4067 (Jurisdictions A and D).
SOURCE LINKS
https://cgsmedicare.com/articles/cope16934.html
https://www.cms.gov/files/document/Accelerated-and-Advanced-Payments-Fact-Sheet.pdf
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