What Is Medicare PIP?

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   Fred Adams

   The HSA Expert, Health Revival, Athens, GA

   PIP stands for periodic payment periods. In regards to Medicare, this is the system that sends bi-weekly payments to a hospital on the PIP program and are based on the hospital's estimate of applicable Medicare reimbursement for the current cost report period. When such payments are received, a cash account in the Unrestricted Fund is debited and a PIP Clearing Account is credited for the amount of the payment. When applicable, Medicare charges are billed to the intermediary, at which time the PIP Clearing Account is debited and patient's account receivable is credited. At year-end, adjustments must be made to eliminate any remaining balance in the PIP Clearing Account and to reflect the amount receivable from, or due to, the Medicare intermediary.

   Answered on May 14, 2014

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