Currently, Medicare contractors begin recoupment of an overpayment on day 41 from the date of the initial demand later. Starting July 1, 2012, providers can request recoupment to begin prior to day 41. Providers who elect this process may be able to avoid assessment of interest if the overpayment is repaid in full before day 31.
Providers who voluntarily choose immediate recoupment must do so in writing (by mail, FAX, or email) to contractors. The letter should contain the following information:
1. Provider name and phone number
2. Provider Medicare number and/or National Provider Identifier
3. Provider or CFO’s signature
4. Demand letter number
5. Which option the provider is requesting
Providers can elect a one-time immediate recoupment request for the current overpayment and all future overpayments or request immediate recoupment for a specific overpayment addressed in a demand letter.
Related Articles on Coding, Billing & Collections:
Top 1% of Insured People Under 65 Account for Top 25 of Healthcare Costs
Electronic Funds Transfers to Switch to One Recipient Per Claim
High Risk Medical Plan Patients to Rack Up Higher Medical Costs Than Expected
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
