On April 26, the Center for Medicare & Medicaid Services (CMS) announced the immediate suspension of the Advance Payment Program to Part B suppliers. In the same release, CMS also outlined a reevaluation of payments under the Accelerated Payment Program. These temporary loan programs provided over $100 billion since March 28 to support providers and suppliers as they responded to COVID-19.
An additional $175 billion has been appropriated for healthcare provider relief, and funding will continue to be available to hospitals and other providers on the front lines through the HHS Provider Relief Fund. The Provider Relief Fund is a grant, rather than a loan program.
To be clear, CMS is no longer accepting applications for the Advance Payment Program and will reevaluate all pending and new applications for Accelerated Payments in light of direct payments made through the HHS Provider Relief Fund.
For more information about this announcement, please visit CMS.
If you have questions about how HORNE Healthcare can assist your organization with funding opportunities, please contact us.