|April 22, 2020
Additional CARES Act Provider Assistance Details and Timing Released
The original CARES Act passed in late March included a $100 billion Public Health and Social Services Emergency Fund, $50 billion of which was/is to be allocated for general distribution to Medicare facilities and providers. You may recall, $30 billion was already distributed between April 10th and 17th, proportionate to providers’ share of Medicare fee-for- service reimbursements in 2019.
The feds then stated that the additional $20 billion would be going out to help providers with a relatively small share of their revenue coming from Medicare fee-for-service, such as children’s hospitals and Medicaid heavy providers. It was announced this afternoon that those funds are beginning to be delivered this week. HHS will begin distribution to providers to augment their allocation so that the total $50 billion distribution is allocated proportional to providers’ share of 2018 net patient revenue.
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 at https://www.hhs.gov. 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).
Important:Providers who receive their money automatically will still need to submit their revenue information so that it can be verified.
Important: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.
Miscellaneous (Surprise Bills)
Please contact Dan Morin, director of communications and government affairs at (207) 838-8613 or firstname.lastname@example.org with any questions, comments or concerns< Previous Article | Next Article >
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