One month after the Centers for Medicare and Medicaid Services (CMS) expanded its Accelerated and Advanced Payments (AAP) Program, the agency announced that it is suspending advanced payments to Part B providers and suppliers, and is reevaluating accelerated payments to hospitals and other Part A providers.
According to CMS, these programs were expanded to provide temporary loan programs to ensure providers and suppliers had the resources needed to combat the beginning stages of the 2019 Novel Coronavirus (COVID-19). Since expanding the AAP Program on March 28, 2020, CMS has successfully advanced or accelerated over $100 billion in payments to healthcare providers and suppliers. That includes the approval of over 21,000 applications totaling $59.6 billion in payments to Part A providers, and over 24,000 applications advancing $40.4 billion in payments for Part B providers and suppliers.
In addition to the $100 billion of payments sent to providers through the AAP Program, CMS also cited the $175 billion recently appropriated for healthcare provider relief payments through the CARES Act and the more recent Paycheck Protection Program and Health Care Enhancement Act, signed into law on April 24.
CMS is no longer accepting new applications for the Advance Payment Program for Part B providers, and the agency will be reevaluating all pending and new applications for the Accelerated Payments Program. Funding received through the AAP Program is required to be paid back within one year, or less, depending on provider or supplier type.
For updated information about the AAP Program, check out the CMS Fact Sheet: Expansion of the Accelerated and Advance Payments Program for Providers and Suppliers During COVID-19 Emergency.
— All rights reserved. For use or reprint in your blog, website, or publication, please contact us at cipromsmarketing@ciproms.com.
