Responses: Billing Medicare Interest
Joel Kempfer C.P.
Description
Collection
Title:
Responses: Billing Medicare Interest
Creator:
Joel Kempfer C.P.
Date:
9/3/2013
Text:
Here are the responses to a recent question asking if anyone's
successfully billed Medicare for interest on audited/accepted claims...
varies from 10.5-11.5% based on time of recoup. I posted on my blog about
this when they released the updated rates earlier this year. link below.
As I understand it, if u win an appeal, CMS automatically adds interest to
ur payment at 1.5% per month or 18% annually.
Please do not take this to the bank as Gospel but unless something has
changed that I missed, I believe I'm correct.
We recieved two different interest payments one on the claw back amount to
the date of clawback. And one on the total going back to date of service.
I am not sure of the rate ...I'll ask my bookkeepers
CMS interest charge for late payment penalty is 12%
You can ask for the interest you paid back from the ALJ but you have to
ask for it back separately. I have not had the opportunity to try this yet
but my educational rep. told me you ask for interest back but even if your
ALJ rules in your favor they can still rule against you getting interest
back. I would assume if you lose the ALJ hearing don't even ask for your
interest back.
Regardless of outcome I think we should all invoice them! Also for the
postage and certified mail!
Thanks for your input to all who responded!
Joel J. Kempfer CP FAAOP
President,
Kempfer Prosthetics Orthotics Inc.
4365 West Loomis Road
Greenfield, WI 53220
414-817-1452
<Email Address Redacted>
successfully billed Medicare for interest on audited/accepted claims...
varies from 10.5-11.5% based on time of recoup. I posted on my blog about
this when they released the updated rates earlier this year. link below.
As I understand it, if u win an appeal, CMS automatically adds interest to
ur payment at 1.5% per month or 18% annually.
Please do not take this to the bank as Gospel but unless something has
changed that I missed, I believe I'm correct.
We recieved two different interest payments one on the claw back amount to
the date of clawback. And one on the total going back to date of service.
I am not sure of the rate ...I'll ask my bookkeepers
CMS interest charge for late payment penalty is 12%
You can ask for the interest you paid back from the ALJ but you have to
ask for it back separately. I have not had the opportunity to try this yet
but my educational rep. told me you ask for interest back but even if your
ALJ rules in your favor they can still rule against you getting interest
back. I would assume if you lose the ALJ hearing don't even ask for your
interest back.
Regardless of outcome I think we should all invoice them! Also for the
postage and certified mail!
Thanks for your input to all who responded!
Joel J. Kempfer CP FAAOP
President,
Kempfer Prosthetics Orthotics Inc.
4365 West Loomis Road
Greenfield, WI 53220
414-817-1452
<Email Address Redacted>
Citation
Joel Kempfer C.P., “Responses: Billing Medicare Interest,” Digital Resource Foundation for Orthotics and Prosthetics, accessed November 5, 2024, https://library.drfop.org/items/show/235618.
