A brief hold will be placed on Medicare payments for all claims for the last nine days of the Federal fiscal year, September 22, 2006 - September 30, 2006. These dates do not refer to the dates of service, but to the dates that you would have normally received the actual payments if you filed a clean claim. Claims held as a result of this one-time policy will be paid on October 2, 2006, with no interest or late penalty paid to an entity or individual for any delay in a payment by reason of this one-time hold on payments.Times are gettin' tough in medicine on everyone, but especially young doctors. And you can bet these young physicians' bankers will still expect payment on their loans without a 9-day lag.
This delay of payments will cause a deferment of $1.3 billion to be paid beginning in October 2006 which marks the beginning of government’s 2007 fiscal budget year. The policy applies only to claims subject to payment and does not apply to full denials and no-pay claims. These payment delays are mandated by section 5203 of the Deficit Reduction Act of 2006.