Posted Saturday, April 3, 2021
Six months ago, CMS delayed repayment of Medicare advance loans, but the recoupment process is about to begin. Providers need to be prepared to navigate the repayment process. In total, CMS distributed $106 billion in advance payments.
“They need to know what the total amount of the advanced payment was,” Beth Prince, vice president of revenue management services at Corridor, told Home Health Care News. “You have to know what your starting balance is because when you submit claims, you’re going to have recoupment in varying amounts over time.”
Repayments are set to begin this month, and it is essential that providers who took part in these loans are clear on exactly what is being recouped, Prince explained.
“Providers need to be able to reconcile back so that they have an accounting of exactly how much they owe CMS at what point in time,” she said.
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About Corridor
For over 30 years, Corridor has partnered with home-based care providers, delivering powerful solutions to support the unique challenges of caring for patients in the home. Our team of operating executives, clinicians, and nationally renowned industry experts have run provider organizations and resolved the same challenges you face.
Focusing on key operational, regulatory and financial challenges, Corridor delivers solutions and deep expertise in coding, clinical documentation, compliance, billing and education.
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