To increase cash flow to providers impacted by the 2019 novel coronavirus (COVID-19) pandemic, Medicare is offering a “cash advance” of up to three months of the average monthly Medicare payments.

Below is a brief summary of the program.

SUMMARY

  • Advance Amount – Providers can request up to 100% of the Medicare payment amount for a three-month period. Example: average monthly payment $5,000, maximum available $15,000.
  • Timing – CMS to review and issue payments within seven (7) calendar days of receiving the request.
  • Repayment – CMS has extended the repayment of these accelerated/advance payments to begin 120 days after the date of issuance of the payment

 

Link to the complete details: https://medicare.fcso.com/coronavirus/0460439.asp?WT.ac=AdvancePayment&WT.ad=Homepage%20Banner

How to access the application and upload the form: https://medicare.fcso.com/Enrollment/EnrollmentGateway.asp

Link to the application: https://medicare.fcso.com/wrapped/0460438.pdf

 

Professional Reimbursement Managers

You work hard to earn your fees. At Professional Reimbursement Managers (PRM), we work even harder to collect them. Established in 1995, PRM Billing has a proven track record of increasing and accelerating cash flow for hardworking medical professionals.

No other company matches our commitment to customer service, total transparency, and complete accountability.  PRM Billing takes total responsibility for the financial health of your practice.

Lanny Menendez

Professional Reimbursement Managers