October 06, 2020
The U.S. Department of Health and Human Services (HHS) recently announced $20 billion in new funding for providers on the frontlines of the coronavirus pandemic. Providers that have already received Provider Relief Fund payments can now apply for additional funding beyond the 2% of annual revenue previously allowed to account for revenue losses and changes in operating expenses attributed to coronavirus. Previously ineligible providers, such as behavioral health providers and those who began practicing in 2020, will also be eligible to receive funding from this new $20 billion tranche.
Providers have until November 6, 2020, to apply for this Phase 3 General Distribution funding.
All provider applications will be reviewed to confirm they have received a payment equal to approximately 2% of their patient care revenue from prior general distributions. Applicants that have not yet received relief fund payments of 2% of patient revenue will receive a payment that, when combined with prior payments (if any), equals 2% of their patient care revenue.
With the remaining balance of the $20 billion budget, HHS will then calculate equitable add-on payments that considers each provider’s previous relief fund payments, as well as changes in operating revenues and COVID-19 expenses.
Physicians are encouraged to apply early for this funding. Applying early will help expedite the HHS review process and payment calculations, and ultimately accelerate the distribution of all payments.
All payment recipients will be required to attest to receiving the Phase 3 General Distribution payment and accept the associated Terms and Conditions.
For updates and to learn more about the Provider Relief Program, visit: hhs.gov/providerrelief.