Current regulations (42 C.F.R 424.510(e)(1),(2)) require providers and suppliers to agree to receive Medicare payments via Electronic Funds Transfer (“EFT”) at the time of enrollment, revalidation, change of Medicare contractors or submission of an enrollment change request. Additionally, the provider or supplier must submit a CMS-588 form to receive Medicare payment via EFT. Section 1104 of the Affordable Care Act (“ACA”) further expands this requirement by mandating federal payments to providers and suppliers only by electronic means. Therefore, as part of the Center for Medicare & Medicaid Services (“CMS”) revalidation efforts, all providers and suppliers who are not currently receiving EFT payments will be identified and required to submit the CMS-588 along with their revalidation application.
Should you have any questions, please contact:
Todd Selby at 317.977.1440 or tselby@wp.hallrender.com;
Brian Jent at 317.977.1402 or bjent@wp.hallrender.com; or
David Bufford at 502.568.9368 or dbufford@wp.hallrender.com,
or your regular Hall Render attorney.
