I have been out of this game for 4 years (happily retired). I did read about the data breach/ransom and that loans were made to doctors. I do not know the details around that, but many states have prompt pay laws that require electronic claims to be paid within 30 days. In NY, the interest rate was 12%. CT was 15%. NJ was 12%. These rates were high enough to motivate the insurers to pay timely. Also, all states could impose prompt pay fines on top of the interest. I think that CMS requires interest on late payment of Medicare claims by Medicare Advantage providers as well.
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