Accelerated & Advance Payment for COVID-19 Emergency
The Center for Medicare and Medicaid Services (CMS) announced plans to expand its Accelerated and Advance Payments Program for providers and suppliers during the unprecedented disruption of COVID-19. Anticipated delays in both claims submission and processing will undoubtedly bring cash flow challenges that may be alleviated with advance payment for eligible home care and hospice agencies. It is important that we provide as much information to our clients in this time of need to explore this resource clarity and effective planning.
While this is a viable option for some organizations, financial assessment and data review will be essential to ensure cash flow and fulfill repayment of the amount. Recoupment will be required 120 days after the advance payment is received. Simione can help agencies ensure they are using the right data and analysis to provide estimates for advance payment requests and manage cash flow in the coming months to ensure effective repayment.
Get the Simione’s FAQ Sheet to learn more about eligibility, calculating advance payment and minimizing risk due to coronavirus. For help with assessment, data review and understanding other regulatory changes for current operations, call us today.