CareFirst BlueCross BlueShield (CareFirst) announced that it will offer a new accelerated payment program to an array of healthcare providers experiencing financial strain due to the coronavirus (COVID-19) pandemic. This initiative is part of CareFirst’s ongoing commitment to support the communities it serves as they navigate the complexities of this public health crisis. CareFirst’s combined provider-focused efforts will result in over $170 million in direct support of the healthcare delivery system during the pandemic.
Declines in patient visits and physicians being required to cease elective procedures during this pandemic have combined to impact many independent practices. In response to this disruption, CareFirst will continue to aid a large number of provider organizations in Maryland, the District of Columbia, and Northern Virginia that are part of CareFirst’s Patient-Centered Medical Home (PCMH) program, as well as independent practices in certain specialty areas. To allow more providers the immediate financial means to care for patients, CareFirst is accelerating funds that would otherwise not be available during the pandemic or have been paid later in 2020 and 2021. CareFirst will offer a combination of:
- Advance 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, and dentists; and,
- Cash advances to select hospitals demonstrating need in Maryland, the District of Columbia, and Northern Virginia.
To view the full story, visit CareFirst’s website.
Source: CareFirst BlueCross BlueShield