Blue Cross Blue Shield of Arizona is offering providers a claim advancement program that will provide three-month loans to providers who are experiencing significant cash strains related to the COVID-19 pandemic.
To qualify for the Claim Payment Advance program, hospitals and physicians in Arizona must be a part of the BCBSAZ network and have seen at least a 33 percent reduction in claims for fully insured plans. Organizations must also be in good standing with professional licensing boards and BCBSAZ.
The loan program is in addition to earlier support from the health insurer. BCBSAZ is allocating $5 million in loans to support Arizona small businesses, $10 million in accelerated payments to providers and sending prepayments to more than 2,300 primary care providers in one of its value-based care programs.