This blog was written and produced by Margaret Lally and Robert Nasso, CPA at The Bonadio Group. Looking to get in touch with Margaret or Robert? Reach out today: Margaret Lally firstname.lastname@example.org, Robert Nasso email@example.com.
On October 1, HHS announced that $20 Billion in additional funding will be made available to healthcare providers in a third phase of the General Distribution.
- Providers who already received or rejected previous payments from the General Distribution, phase 1 and/or 2, may submit additional information and may be eligible for further payments.
- Behavioral Health providers are also invited to apply; both new providers and those who have received a prior payment.
- Healthcare providers that began practicing between January 1 and March 31, 2020, including Medicare, Medicaid/CHIP, dentists, assisted living facilities, and behavioral health providers.
- Providers who have not yet received 2% of patient revenue will receive a payment such that the total of all payments received a total of 2% of patient revenue.
- An additional add-on payment will be calculated that accounts for:
- A provider’s change in operating revenue from patient care.
- A provider’s change in operating expenses from patient care.
- Payments already received from the Provider Relief Fund.
- Applications will be accepted between October 5, 2020, and November 6, 2020.
- Providers are encouraged to apply early to expedite the process and distribution of payments.
If you have questions or need additional assistance, please feel free to reach out to us.
The information and advice we are providing for this matter relates to COVID-19 legislative relief measures. Because legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that could modify some of the advice and information provided to you, after the conclusion of our engagement. We, therefore, make no warranties, expressed or implied, on the services provided hereunder.