Time is of the Essence -

140.2.6 - Time is of the Essence - (Rev. 13825; Issued: 06-11-26; Effective: 07-13-26; Implementation: 07-13-26) Upon receiving credible information regarding an impending bankruptcy, the Contractor shall immediately notify the CMS Office or CMS Counsel. This notification is essential to avoid forfeiting the opportunity to recover Medicare overpayments. It is imperative not to wait for formal notice, and do not assume that someone else has notified CMS, as timely communication is crucial. Various sources may provide early bankruptcy information such as the Internet, newspapers, trade journals, and business magazines. Contractors shall send information regarding an imminent provider/s bankruptcy to the OPOLE IFM Bankruptcy mailbox at OPOLE_IFM_Bankruptcy@cms.hhs.gov.