August 12, 2020

HHS Provider Relief Fund Updates

HHS Provider Relief Fund Updates Healthcare

Additional Funding to Nursing Homes

On July 22, the Department of Health and Human Services (HHS) announced that $5 billion of additional funding would be dedicated to Medicare certified nursing facilities and state veterans’ homes. On Friday, August 7, additional information was released regarding this upcoming distribution.

  • Approximately $2.5 billion will be issued to facilities by mid-August, to support increased testing, staffing and PPE needs. At this time, the details regarding the methods for determining the amount to be distributed per facility has not been made available. There will not be an application process for this funding. As with previous provider relief funding, it is encouraged that facilities maintain records of the use of any funds received.
  • Funding will also be available to facilities that have established COVID-19 isolation units or buildings.
  • The remaining balance of the $5 billion will be linked to a nursing home’s performance. Payments will be released throughout the fall. Performance evaluations will be based on a home’s ability to minimize both the spread of COVID-19 and minimize COVID-19 related deaths, along with a comparison to the performance of other facilities in the same geographic location. This portion of the funding is to encourage facilities to reach out for infection control expertise and support.

Second Opportunity to Apply for Additional Funding from the General Distribution

Medicare providers are being given another opportunity to receive additional Provider Relief Funding to equal 2% of their net patient care revenue, if they previously were not awarded the full benefit amount. Any provider who missed the June 3 deadline are allowed to apply for this funding. The deadline to apply for additional funds is August 28. To summarize, providers that received a Round 1 payment from the General Distribution that did not equal 2% of their annual patient revenue can apply for additional funding to equal 2% of their annual patient revenue.

Reporting Requirements for Recipients of Provider Relief Funding

Any provider receiving Provider Relief Funding in excess of $10,000 will be required to submit reports in the future, to support their use of funds received. Detailed instructions regarding these reports are expected to be made available by August 17.

Marcum will continue to provide you with details of any additional funding opportunities and reporting requirements, as they become available. If you have any questions about this or any other COVID-19 funding matter, please reach out to your Marcum Healthcare Advisor.

Coronavirus Resource Center

Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.

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