CMS Reevaluates Accelerated Payment Program And Suspends Advance Payment Program
on April 27, 2020
An Accelerated/Advance Payment is intended to provide necessary funds when there is an interruption in claim submission. The expedited payments are offered in circumstances including natural disasters or national emergences, such as the COVID-19 pandemic. The temporary loan programs are available to both Part A and Part B providers/suppliers as resource to assist with cash flow disruptions.
Effective April 26th, 2020, CMS will not be accepting any new applications for the Advance Payment Program and will be reevaluating all pending and new applications for the Accelerated Payment Program. Currently, suspension for the Advance Payment Program applies to Part B suppliers.
According to the release by CMS, “Since expanding the programs on March 28, 2020, CMS approved over 21,000 applications totaling $59.6 billion in payments to Part A providers, which includes hospitals. For Part B suppliers, including doctors, non-physician practitioners and durable medical equipment suppliers, CMS approved almost 24,000 applications advancing $40.4 billion in payments.”
While the Advance Payment Program may be suspended for suppliers, there are still other opportunities available for funding. Stay tuned for further updates. For any questions related to the Accelerated/Advance Payment Program, please reach out to Ronda Buhrmester at email@example.com or via phone/text at 217-493-5440.