There has been significant disruption to the health care industry as a result of the 2019 Novel Coronavirus (COVID-19). This disruption has resulted in short term cash flow issues for certain healthcare providers across the country.
In connection with this disruption, the Centers for Medicare & Medicaid Services (CMS) announced an expansion of its accelerated and advance payment program for Medicare participating health care providers and suppliers, to ensure they have the resources needed to combat COVID-19.
Accelerated and advance Medicare payments are typically offered in natural disasters to accelerate cash flow to the impacted health care providers and suppliers. In this situation, CMS is expanding the program for all Medicare providers throughout the country. The payments can be requested by hospitals, doctors, durable medical equipment suppliers and other Medicare Part A and Part B providers and suppliers.
Medicare will start accepting and processing the Accelerated/Advance Payment Requests immediately. The Request forms can be found on each individual Medicare Administrative Contractor’s (MAC) website. 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 is available.