Because of the COVID-19 outbreak, providers are experiencing a disruption in claims submission. To help alleviate some of the financial stress these businesses may be experiencing, the Centers for Medicare & Medicaid Services (CMS) has implemented a stimulus benefit program for Medicare Part A and Part B providers, including hospitals, doctors, non-physician practitioners and DME suppliers.
Under the program, the provider can request up to 100 percent of the Medicare payment that they received in a three-month period. This means if a provider received $100,000 for December, January, February, they can request $100,000 and Medicare will send it to them within 7 days.
During this time, providers should continue to submit claims as usual. Claims for the next 120 days will be paid as normal, based on regular Medicare payment rates. Medicare will issue checks/EFT for the claims received within the 120 days so the provider will continue to receive payment. At the end of 120 days, any claims submitted will be adjudicated at regular Medicare rates and will be used to offset the $100,000 Medicare advanced them, until that balance is reduced to $0. Providers will have up to 210 days to complete the repayment of the accelerated and advanced payment.
Update (April 26, 2020): CMS is reevaluating the amounts that will be paid under its Accelerated Payment Program and suspending its Advance Payment Program to Part B suppliers effective immediately. Learn more