On February 11, 2016, the Centers for Medicare and Medicaid Services (CMS) released the final version of a 2012 proposed rule which requires Medicare Parts A and B health care providers and suppliers to report and return overpayments by the later of the date that is "60 days after the date an overpayment was identified, or the due date of any corresponding cost report if applicable." The rule became effective on March 14, 2016. A separate final rule was published on May 23, 2014 that addresses Medicare Parts C and D overpayments. The final rule requires Medicare providers to re-organize how they monitor claims and payment in order to comply with a new provider responsibility to report overpayments.
1. Understand the "Look-Back Period"
2. Learn what "Reasonable Diligence" is and Related Provider Monitoring and Reporting Requirements
3. Understand the Implications of Failure to Report
Consolidated Billing Services, Inc.
Executive Vice President & CFO
White Oak Manor