Mary Madison, RN, RAC-CT, CDP
Clinical Consultant – Briggs Healthcare
Transmittal 12123 was posted July 11, 2023. Note the Effective/Implementation Date is July 17, 2023.
I. GENERAL INFORMATION A. Background: Medicare Regulation 42 CFR section 405.378 provides for the assessment of interest at the higher of the current value of funds rate (one percent for calendar year 2023) or the private consumer rate as fixed by the Department of the Treasury. B. Policy: The Department of the Treasury has notified the Department of Health and Human Services that the private consumer rate has been changed to 11.50 percent.
III. FUNDING: For Medicare Administrative Contractors (MACs): The Medicare Administrative Contractor is hereby advised that this constitutes technical direction as defined in your contract. CMS does not construe this as a change to the MAC Statement of Work. The contractor is not obligated to incur costs in excess of the amounts allotted in your contract unless and until specifically authorized by the Contracting Officer. If the contractor considers anything provided, as described above, to be outside the current scope of work, the contractor shall withhold performance on the part(s) in question and immediately notify the Contracting Officer, in writing or by e-mail, and request formal directions regarding continued performance requirements.
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