Prompt and Fair Pay Act aims to ensure timely payments and payment parity for Medicare Advantage providers.
The Prompt and Fair Pay Act amends title XVIII of the Social Security Act to establish payment parity between Medicare Advantage and fee-for-service Medicare. It mandates that contracts between Medicare Advantage organizations and providers require payment for clean claims within specific timeframes. Clean claims are defined as those without defects or improprieties and conforming to original Medicare requirements. Failure to pay clean claims within the specified days results in interest payments to providers.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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