On April 27, 2020, the Centers for Medicare and Medicaid Services (CMS) announced that it is suspending its Advance Payment Program to Part B suppliers and reevaluating the amounts that will be provided under its Accelerated Payment Program. Beginning on April 26, 2020, CMS will no longer accept any new applications for the Advance Payment Program, and CMS will reevaluate all pending and new applications for Accelerated Payments.
On March 28, 2020, CMS announced a nationwide expansion of the Accelerated and Advance Payment Programs. Under these programs, providers and suppliers could essentially borrow against their expected future Medicare payments in order to accelerate their cash flow and maintain necessary financial resources to combat the COVID-19 crisis. Since expanding these programs, CMS approved over 21,000 Accelerated Payment Program applications (totaling $59.6 billion in payments to Part A providers) and approved almost 24,000 Advance Payment Program applications (totaling $40.4 billion in payments to Part B suppliers). Additional information regarding these programs is available here.
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