If your business has ever received a demand letter from Medicare regarding overpayments, your first thought has probably been, “How am I going to pay this back while keeping my business afloat?” There is good news! Effective September 3, 2013, an update to chapter 4 of the CMS manual Medicare Financial Management may ease some of your worries. A provider has the option of submitting an Extended Repayment Schedule (ERS) request, formerly named Extended Repayment Plan (ERP), if repayment within a 30 day period would represent a “hardship.” If the request is approved, it can result in anywhere from a six- to a 36- month extension to the Medicare contractor and/or up to 60 months with the Centers for Medicare & Medicaid (CMS). Between the shaky economy and redoubled scrutiny of Recovery Audit Contractors, this may be a lifesaver for providers and give them some breathing room if they’re targeted for overpayments. To find out more details refer back to First Coast Service Options billing news.
What We’re Reading – Manual update regarding the repayment of overpayments
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