Quarterly Credit Balance Reports No Longer Required:
Starting December 1, 2024, providers aren’t required to submit Credit Balance Reports (CMS-838) (PDF) on a quarterly basis. You’re still required to report self-identified overpayments, but you should only use a Credit Balance Report when they occur.
The Credit Balance Report (CMS-838) is used to disclose Medicare credit balance amounts due from the provider to Medicare. Generally, when a provider receives an improper or excess payment for a claim, it is reflected in their accounting records (patient accounts receivable) as a “credit.” Credit balances should only be reported if the provider has not repaid the amount to Medicare through a voluntary refund, has not received a remittance advice indicating that the adjustment associated with the credit has been adjudicated, or has not received a demand letter for the credit balance amount.
The CMS guidelines governing these processes can be found on the CMS website under Publication 100-06 – Medicare Financial Management Manual, Chapter 12 (PDF).
Courtesy: Palmetto GBA – More details at: https://www.palmettogba.com/palmetto/jmhhh.nsf/DID/AJZJE21667
