The information comes from the Treasury Department’s latest post on interest rates payable when clean non-periodic interim payment Medicare claims are not paid in a timely manner by Medicare contractors. The prompt pay interest rate is now 2.5 percent, slightly lower than the rate for the previous period.
The rate is determined every six months and applies from the periods beginning Jan. 1 and July 1.
Providers can access the department’s Prompt Payment website for current and past prompt payment interest rates.
Read the AAPC report on late payments.
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