On Saturday, the Centers for Medicare & Medicaid Services announced that it is expanding its accelerated and advance payment program for Medicare providers to ensure that they have the resources to fight COVID-19. The move was part of the Coronavirus Aid, Relief and Economic Security Act, which President Trump signed into law on Friday.
For skilled nursing providers, COVID-19 has significantly affected operating expenses, with many facilities depleting supplies much more quickly than usual and spending extra on additional infection control efforts.
The expedited payments typically are offered during natural disasters to accelerate cash flow to affected healthcare providers and suppliers, CMS officials said. But in the midst of the pandemic, CMS is expanding the program for all Medicare providers throughout the country.
“With our nation’s healthcare providers on the front lines in the fight against COVID-19, dollars and cents shouldn’t be adding to their worries,” CMS Administrator Seema Verma said. “Unfortunately, the major disruptions to the healthcare system caused by COVID-19 are a significant financial burden on providers.”
Verma added that the expansion will help ensure that Medicare providers have the resources they need to maintain their focus on resident and patient care during the pandemic.
To qualify for advanced or accelerated payments, providers or suppliers must:
- Have billed Medicare for claims within 180 days immediately before the date of signature on the provider’s / supplier’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.
The agency will start accepting and processing requests immediately and said payments could go out within seven days.
