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CMS Authorizes COVID-19 Accelerated and Advanced Medicare Payments to Qualifying Providers

CMS provided notice of the expansion of its Accelerated and Advanced Payment Program for qualifying Medicare participating providers to ensure liquidity throughout the COVID-19 crisis. The Program enables qualifying Medicare providers to receive an advance worth 3 months of average billings.

CMS anticipates that advance payments will be issued to qualifying providers within 7 days of approving the provider’s request. Repayment of these Accelerated/Advance Payments to CMS begins 120 days from the receipt of the  Accelerated/Advance Payment, and  and full repayment is to be done within 210 days.

To qualify for accelerated or advance payments, the provider must:

  • Have billed Medicare for claims within 180 days immediately prior to the date of signature on the provider’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 applications and approved requests immediately.  Most providers will be able to request up to 100% of the Medicare payment amount for a three-month period.

Accelerated/Advance Payment Request forms can be found on each individual MAC’s website and can be submitted electronically, by fax, email or mail.  CMS has established COVID-19 hotlines at each MAC that are operational Monday-Friday to assist with accelerated payment requests.

View the CMS press release here and fact sheet here.

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Tags: COVID-19, Coronavirus