Impact of extending Medicare loan repayment period depends on how the most needy rebound, expert says – Home Care Daily News

The effectiveness of the federal government’s decision to extend reimbursement terms for providers who received advanced Medicare payments during the pandemic will depend “on how quickly the industry and the entities most affected are able to bounce back.” , predicted an expert.

The Centers for Medicare & Medicaid Services announced last week loan repayment for Medicare’s accelerated and advanced payment program now will begin one year from the date the suppliers received the expedited or advanced payment. Originally, suppliers were to start repaying their loans from August.

“While some organizations probably requested and received these funds before they had relief funds from HHS providers and did not have to dip into the loans, others had to use these funds due to the devastation on the ground. ‘occupation and the money that COVID-19 has imposed and they have exhausted all other sources and funding options,’ said Amber Rogotzke, president of Health Dimensions Group. McKnight Friday.

Rogotzke added that whether or not the delay in loan repayments has an impact depends on how quickly the industry and the most affected entities are able to bounce back and what future sources of funding may become available.

“If the impact of COVID-19 lasts for a long time, then it really only pushes a cash crunch issue down the road for a day later for some elderly care providers, who will need a plan. solid action and more funding to get through it. -Pandemic period, ”she declared.

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