CMS Has Doled Out Nearly $34B in Advance, Accelerated Payments to Providers to Combat COVID-19

Source: FierceHealthcare

The Trump administration delivered nearly $34 billion in advance and accelerated payments to providers over the past week as more and more health systems furlough workers, according to a FierceHealthcare report.

The Centers for Medicare & Medicaid Services (CMS) announced Tuesday that it has reduced the processing time for such payments to 4 to 6 days as opposed to the earlier time frame of 3 to 4 weeks. The delivery of payments comes as providers have had to furlough workers as revenues dwindle.

“In a little over a week, CMS has received over 25,000 requests from healthcare providers and supplies for accelerated and advance payments and have already approved over 17,000 of those requests in the last week,” CMS said in a release.

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