News

On Friday, CareFirst BlueCross Blue Shield announced it would be providing $170 million in accelerated and advanced payments to certain providers to alleviate the financial strain of COVID-19.

The program will be available to CareFirst providers participating in the Patient-Centered Medical Home (PCMH) program as well as certain specialty independent practices. The funds available will include:

• Advanced lump-sum payments, increased fee schedules and monthly cash advances for qualifying PCMH panels;
• Monthly cash advances for pediatricians and rural primary care physicians who need additional assistance, independent practices in certain specialty areas (including OBGYNs and behavioral health providers); and
• Cash advances to hospitals demonstrating need in Maryland, DC, and Northern Virginia.

The application process for advanced payments opened on CareFirst's website on April 13. All providers interested are asked to complete an Accelerated Payment Request form by April 24 to be considered for disbursement.

With federal and local funds at the moment on hold, this is a potentially useful fund for physician practices to consider to continue operating. This also mirrors the advanced payment program CMS initiated for Medicare providers.