May 29, 2020

CARES Act Provider Relief Fund

CARES Act Provider Relief Fund Advisory

The CARES Act Provider Relief Fund is a source of financial support for healthcare providers on the front lines of the coronavirus pandemic. Eligible providers include hospitals, nursing homes, physicians, and other healthcare professionals. Following is a summary of the distributions issued and steps providers must follow after receiving the funds.

General Allocation – Tranche 1

The initial $30 billion was allocated between April 10 and April 17 for general distribution to Medicare facilities and providers, including physician practices, impacted by COVID-19. The amount of the distribution was based on the 2019 traditional Medicare fee-for-service payments. This initial payment equated to just under 6.2% of a provider’s 2019 payments.

  • Within 90 days of receipt, a facility or provider must complete an attestation agreeing to the terms and conditions of the payment. (On May 22, the U.S. Department of Health & Human Services (HHS) announced an extension of the deadline for completing the attestation, from 45 days to 90 days).