Occasionally Medicare (CMS) or another Payor may not make payment timely and may include interest along with the payment. When this happens, you will need to apply the interest amount to the claim along with the payment.
| Step 1 | Enter the responsible amount, which should reflect the amount the payor was responsible for, excluding the interest. |
| Step 2 | Enter the payment amount, which should be the amount you were actually paid, including interest. |
| Step 3 | Finally, enter the interest amount in the Adjustment/Interest field and INT or other Adjustment Reason in the Adjustment ID.
Tip: Since this adjustment is increasing the amount the Payor owes, opposite from a normal adjustment, we’ll enter the adjustment as a negative amount. This will reverse or offset the overpayment, leaving a Remaining Balance of zero. Tip: Check that you have entered the payment and interest correctly by confirming the Remaining Balance is zero (0). |
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