~3 weeks left to apply: $20B HHS Provider Relief Fund

~3 weeks left to apply: $20B HHS Provider Relief Fund

Last week, The US Department of Health and Human Services (HHS) announced $20 billion in new funding for healthcare providers. This is additional funding.

Three things you need to know:

◘ You have until November 6th, 2020 to apply for this funding.

◘ You can apply for additional funding, even if you received funding earlier.

◘ HHS wants you to receive at least 2% of your patient care revenues from earlier distributions.

– If you didn’t receive that, you can get it now.

– If you got that earlier, then HHS will calculate add-on payments based on what’s left of the $20B + changes in a provider’s operating numbers.

Additional Information:

◘ Providers who began practicing between January and March 2020 can apply for additional funding.

◘ The Phase 3 application is different from the Phase 2, requiring additional revenue and expense data entries in order to calculate payment based on assessed financial impact of COVID-19.

◘ All provider submissions will be reviewed to confirm they have received a Provider Relief Fund payment equal to approximately 2% of patient care revenue from prior general distributions.

◘ Applicants that have not yet received Provider Relief Fund payments of 2% of patient revenue will receive a payment that, when combined with prior payments (if any), equals 2% of patient care revenue.

◘ HRSA has stated that the payments will not be made until it can review applications from all providers.

Action required:

◘ Step 1: Determine Eligibility – All providers eligible for a previous PRF distribution plus new 2020 providers and behavioral health providers may apply.

◘ Step 2: Validate Tax ID Number (TIN) – Recognized TINs will be automatically validated and provider may re-enter portal to complete application. Unrecognized TINs will go through a three-step validation process.

◘ Step 3: Apply for Funding – Documentation required to submit:

– Most recent federal income tax return

– Revenue worksheet (if required by Field 15)

– Operating revenues and expenses

◘ Application should be submitted to the Provider Relief Fund Application and Attestation Portal before Nov. 6, 2020 (11:59 p.m. ET) to be considered for Phase 3 funding.

HHS is urging providers to apply early.

References:

HHS Distributes Another $20B in Provider Relief Funds (RevCycle Intelligence)

Phase 3 General Distribution (HHS.gov – Learn about the Provider Relief Fund)

CARES Act Provider Relief Fund: For Providers (HHS.gov – How to apply)

HHS announces $20 billion in new phase 3 provider relief funding (California Medical Association)

COVID-19: Provider Relief Fund General Distribution – Phase 3 (The National Law Review)

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