What We’re Reading – Manual update regarding the repayment of overpayments

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.