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HHS to Release Additional Funding Beginning April 24th

HHS to Release Additional Funding Beginning April 24th

A total of $50 billion of the Provider Relief Fund is allocated for general distribution to Medicare facilities and providers impacted by COVID-19. The initial $30 billion was distributed between April 10 and April 17, and the remaining $20 billion is being distributed beginning Friday, April 24.

On April 24, a portion of providers will automatically be sent an advance payment based off the revenue data they submit in CMS cost reports. Providers without adequate cost report data on file will need to submit their revenue information to a portal opening this week linked on the HHS website for additional general distribution funds.

Per HHS, the following provisions apply:

  • Providers who receive their money automatically will still need to submit their revenue information so that it can be verified.
  • Payments will go out weekly, on a rolling basis, as information is validated, with the first wave being delivered at the end of this week (April 24, 2020).
  • Providers who receive funds from the general distribution have to sign an attestation confirming receipt of funds and agree to the terms and conditions of payment and confirm the CMS cost report.
  • The Terms and Conditions – PDF also include other measures to help prevent fraud and misuse of the funds. All recipients will be required to submit documents sufficient to ensure that these funds were used for healthcare-related expenses or lost revenue attributable to coronavirus. There will be significant anti-fraud and auditing work done by HHS, including the work of the Office of the Inspector General.

 

As a reminder, in an effort to expedite providers getting money as quickly as possible, $30 billion was distributed on Friday April, 10th in the amount of $26 billion dollars with payments being proportionate to providers’ share of Medicare fee-for-service reimbursements in 2019. The remaining $4 billion of the expedited $30 billion distribution was sent on April 17.

 

To read more about these distributions and next steps, please visit:

https://www.hhs.gov/coronavirus/cares-act-provider-relief-fund/index.html

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