Part B credentialing

My company has just purchased another entity, and I need to report the new ownership on the 855B. Having not done this before, I researched the CMS website, and found a document stating that we need to report the tax ID, etc., for the bank that holds the mortgage. Is this true? I'm sure the bank will not provide their tax ID to us, and it is a required field on the application. I did call the fiscal intermediary, and they had to take a message and have the Provider Enrollment division call me back, but I would rather not wait to send in the application. Thank you for any insight.

Comments

  • edited May 2017
    I don't know of any bank that wouldn't provide their tax id. It's public information.

    Don

  • edited May 2017
    What section number of the 855B are you referring to?

    Karen A. Hurley, BS, CMM, CPC, CNA
    President, HPMSI
    PO Box 409
    Parrish, FL 34219
    Tel: (941) 776-4822
    Fax: (240) 368-0059
    Web: www.hpmsi.com

    Since 1996, Celebrating 20 years of Service to Physicians

  • edited May 2017
    There is nothing in Section 5 that indicates you have to report that type of information.

    Look at Section 17 - Supporting documents.

    If your group has a loan with the bank that holds the account where funds will be deposited, you will need a letter from the bank - here is what Section 17 says:

    " Statement in writing from the bank. If Medicare payment due a supplier of services is being sent to a bank (or similar financial institution) with whom the supplier has a lending relationship (that is, any type of loan), then the supplier must provide a statement in writing from the bank (which must be in the loan agreement) that the bank has agreed to waive its right of offset for Medicare receivables."

    I always recommend to my clients (that have loans with banks) to open another account at a separate bank for their Medicare (and other insurance) receivables. It requires transferring funds by paper check, but it keeps things far simpler.

    Most of my clients don't have loans, but they have been a few.

    Make sure the bank letter has the name and address of the bank - the name of a bank officer, and contact information and that it states EXACTLY what is written above. I've given my clients copies of page 35 of the 855B to take to the bank for the letter, if they chose to use the same bank for Medicare monies.

    Karen A. Hurley, BS, CMM, CPC, CNA
    President, HPMSI
    PO Box 409
    Parrish, FL 34219
    Tel: (941) 776-4822
    Fax: (240) 368-0059
    Web: www.hpmsi.com

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