Providers still reeling financially from the COVID-19 pandemic will have another opportunity to apply for financial assistance through the HHS Provider Relief Fund beginning Monday, Oct. 5 when the program launches its third phase.
An additional $20 billion will be added to the fund, which was initially established as part of the CARES Act funding package. Initially, during phase 1, most Medicare providers received a lump sum payment that was supposed to account for roughly 2 percent of their annual patient revenue. During phase 2, Medicaid providers and those who didn’t initially receive a full 2 percent of their revenue were invited to apply for additional payments.
Below are the eligibility and payment guidelines offered by CMS. Beginning Monday, those interested may apply using the HHS Provider Relief Portal for providers. HHS is encouraging providers to apply early in hopes of expediting the agency’s review process to allow funds to be disbursed in a timely manner.
Applications will be accepted through Nov. 6.
Eligible providers include:
- Those who previously received, rejected or accepted a General Distribution Provider Relief Fund payment. Providers that have already received payments of approximately 2% of annual revenue from patient care may submit more information to become eligible for an additional payment.
- Behavioral Health providers, including those that previously received funding and new providers.
- Healthcare providers that began practicing January 1, 2020 through March 31, 2020. This includes Medicare, Medicaid, CHIP, dentists, assisted living facilities and behavioral health providers.
All eligible providers will be considered for payment against the below criteria.
- All provider submissions will be reviewed to confirm they have received a Provider Relief Fund payment equal to approximately 2 percent of patient care revenue from prior general distributions. Applicants that have not yet received Relief Fund payments of 2 percent of patient revenue will receive a payment that, when combined with prior payments (if any), equals 2 percent of patient care revenue.
- With the remaining balance of the $20 billion budget, HRSA will then calculate an equitable add-on payment that considers the following:
- A provider’s change in operating revenues from patient care.
- A provider’s change in operating expenses from patient care, including expenses incurred related to coronavirus.
- Payments already received through prior Provider Relief Fund distributions.
If you have questions about applying for additional funding, feel free to contact us directly.