Accelerated Payments
Wil
Description
Collection
Title:
Accelerated Payments
Creator:
Wil
Date:
9/19/2012
Text:
Dear Colleagues and Guests,
It appears that the accelerated payment plan is not a practical option
for our prepayment dilemma although it was mentioned as a possible help
in a letter from CMS to us. Following is an assessment from one of our a
project volunteers. Perhaps others can confirm or dispute this. At any
rate, we thought it was important to get this out to folks as soon as
possible. It seems that working with the federal government typically
has gotcha's built into the system. Here is the assessment.
---------------------------------------------------------------------------------------------------------------------------
I don't think that the Accelerated Payment option is a viable option for
the delays related to prepayment documentation audits for the following
reasons:
You can apply for it but only because a shortage of cash means you cannot
meet current financial obligations.
You must repay the amount within 90 days. In the cases of the prepayment
documentation audits, most of these claims are taking in excess of 6
months or 180 days. If you do not repay the entire amount within 90 days,
the funds will be recouped from all other payments until the debt is
repaid and the Treasury Department will issue a notice of the debt. In
other words, they will hold all future payments until the entire amount is
collected.
Additionally, interest begins to accrue on any unpaid amount.
----------------------------------------------------------------------------------------------------------------------------
Wil Haines, CPO
MaxCare Bionics
Avon, IN
It appears that the accelerated payment plan is not a practical option
for our prepayment dilemma although it was mentioned as a possible help
in a letter from CMS to us. Following is an assessment from one of our a
project volunteers. Perhaps others can confirm or dispute this. At any
rate, we thought it was important to get this out to folks as soon as
possible. It seems that working with the federal government typically
has gotcha's built into the system. Here is the assessment.
---------------------------------------------------------------------------------------------------------------------------
I don't think that the Accelerated Payment option is a viable option for
the delays related to prepayment documentation audits for the following
reasons:
You can apply for it but only because a shortage of cash means you cannot
meet current financial obligations.
You must repay the amount within 90 days. In the cases of the prepayment
documentation audits, most of these claims are taking in excess of 6
months or 180 days. If you do not repay the entire amount within 90 days,
the funds will be recouped from all other payments until the debt is
repaid and the Treasury Department will issue a notice of the debt. In
other words, they will hold all future payments until the entire amount is
collected.
Additionally, interest begins to accrue on any unpaid amount.
----------------------------------------------------------------------------------------------------------------------------
Wil Haines, CPO
MaxCare Bionics
Avon, IN
Citation
Wil, “Accelerated Payments,” Digital Resource Foundation for Orthotics and Prosthetics, accessed November 1, 2024, https://library.drfop.org/items/show/233899.
