FedMed recognizes that a small number of claims will not be paid within 30 days of service. That is why FedMed guarantees that all claims processed accrue interest from the date of service until the date the claim is paid. This ensures that providers continue to earn above market interest on all FedMed claims and that the accelerated payment of claims is everyone's priority.
- FedMed pays interest on all claims to participating providers from FedMed payors.
- Interest is paid at an annual rate of 5.1%.
- Interest is paid from the ending date of service until the date of claim payment.
Unlike most provider networks and managed care programs, FedMed quantifies the benefits of our program. Participating providers receive quarterly interest payments with a detailed report showing all FedMed claims paid and the corresponding payment dates. This allows our providers to easily track the benefit of participating in the FedMed National Provider Network.
To Participate as a FedMed Provider
If you are a healthcare provider and would like to contract to participate in the FedMed Network, then please contact us directly at (866) 255-2265 or simply print, sign and fax a FedMed Provider contract to (301) 354-2999. Please find a fax cover sheet included at the back of each contract. A FedMed provider representative will contact you to confirm your participation in the network and answer any questions.