Skilled nursing providers nationwide are breathing a sigh of relief after CMS announced quarterly Credit Balance Reports will no longer be required, effective December 1, 2024.
In the past, Credit Balance Reports were required at the end of each quarter, regardless of whether there were overpayments to report. The new guidance issued by CMS on Thursday, December 19, ends this requirement. Providers must still adhere to requirements under the Affordable Care Act, which requires providers to self-report any identified overpayments within 60 days.
For any questions on this update, please reach out to a professional at Forvis Mazars.