HHS Relief Fund #2: Additional $20 billion


HHS Relief Fund #2: Additional $20 billion

HHS Relief Fund #2: Additional $20 billion
To begin disbursement on April 24th, 2020
Here’s what you need to know.
◘ HHS has announced Round #2 relief fund of $20 billion
◘ Round #2 will be based on 2018 net patient revenue from ALL payors (not just Medicare)
◘ You must use the money to cover unreimbursed expenses or lost revenue due to COVID-19
◘ You don’t have to repay this money
◘ HHS distributed $30 billion based on 2019 Medicare payments
◘ A Round #3 is expected and is related to Medicaid
◘ Additionally, $10 billion for facilities in hot zones, $10 billion for rural areas
The link where the portal announcement will be made: hhs.gov/providerrelief
References:
1) Remarks to Press on the Announcement of Additional Allocations of CARES Act Provider Relief Fund
2) April 22 Update: Additional Allocations of CARES Act Provider Relief Funding
3) HHS to release additional $20 billion in payments from CARES Act Provider Relief Fund
4) $2T CARES Act: What do GI practices need to know right now?

 

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By Praveen Suthrum, President & Co-Founder, NextServices. 

We developed an easy-to-use PPP Loan Calculator to help you estimate:
• Maximum Loan you are eligible for
• Loan Forgiveness Amount (by headcount)
• Loan Forgiveness Amount (by wage reduction)
• Download and modify for your own practice
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