On February 23, the Centers for Medicare & Medicaid Services (CMS) published a reminder to physicians and other individually licensed healthcare professionals that existing regulations (42 CFR 424.516) require providers to update their Medicare enrollment information to reflect any change in ownership within 30 days.
Owners are defined as individuals or corporations with a five percent or greater ownership or controlling interest. Failure to comply with the notice requirement could result in revocation of Medicare billing privileges. The reminder includes a reference to a 2016 study by the Office of Inspector General that identified non-compliance with reporting ownership changes as a vulnerability in the Medicare Program.
Additional information on reporting changes in provider enrollment information may be found on the CMS website.
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