A 2016 Office of the Inspector General (OIG) report noted that providers may not be informing CMS of ownership changes. Providers must update their enrollment information to reflect changes in ownership within 30 days. Owners are individuals or corporations with a 5 percent or more ownership or controlling interest. Failure to comply could result in revocation of your Medicare billing privileges.
Resources:
- Timely Reporting of Provider Enrollment Information Changes MLN Matters® Article
- 42 CFR 424.516
- Medicare: Vulnerabilities Related to Provider Enrollment and Ownership Disclosure OIG Report
- PECOS Enrollment Tutorial – Change of Information for an Individual Provider
- PECOS Enrollment Tutorial – Change of Information for an Organization/Supplier
