As of January 2, 2013 Medicare has 5 years to recover overpayments, with interest, from providers. This is a 2 year extension of the previous 3 year deadline. This was enacted as part of the American Taxpayer Relief Act of 2012 and is estimated to save $500 million, a projection of the Congressional Budget Office. Critics of this policy exclaim that it will cost practices more money, understanding Medicare payments must be closely monitored for another 2 years in order to limit exposure. APS’ contract management system continues to monitor all payments and will be utilized on your behalf to help scrutinize payments and each client’s risk.
APS stepped in and took control of the transition and generated normal collections in our second month, improving billing, which is a huge accomplishment for our business.