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Sunday, April 26, 2020

CARES Act Provider Relief Fund

The taxpayer is providing support to healthcare providers fighting the COVID-19 pandemic. On March 27, 2020, the President signed the bipartisan CARES Act that provides $100 billion in relief funds to hospitals and other healthcare providers on the front lines of the coronavirus response. This funding will be used to support healthcare-related expenses or lost revenue attributable to COVID-19 and to ensure uninsured Americans can get testing and treatment for COVID-19. $50 billion general allocation $50 billion of the Provider Relief Fund is allocated for general distribution to Medicare facilities and providers impacted by COVID-19, based on eligible providers' 2018 net patient revenue. The initial $30 billion was distributed between April 10 and April 17, and the remaining $20 billion is being distributed beginning Friday, April 24. All relief payments are being made to providers and according to their tax identification number (TIN). For example: -Large Organizations and Health Systems: Large Organizations will receive relief payments for each of their billing TINs that bill Medicare. Each organization should look to the part of their organization that bills Medicare to identify details on Medicare payments for 2019 or to identify the accounts where they should expect relief payments. -Employed Physicians: Employed physicians should not expect to receive an individual payment directly. The employer organization will receive the relief payment as the billing organization. -Physicians in a Group Practice: Individual physicians and providers in a group practice are unlikely to receive individual payments directly, as the group practice will receive the relief fund payment as the billing organization. Providers should look to the part of their organization that bills Medicare to identify details on Medicare payments for 2019 or to identify the accounts where they should expect relief payments. -Solo Practitioners: Solo practitioners who bill Medicare will receive a payment under the TIN used to bill Medicare. Additional funding instruments: -Marshall Plan -Medicare Advance Payments -Medicare COVID-19 DRG Add-On -Medicare Sequestration Relief -Medicaid DSH Cuts Source: https://ift.tt/2zxOveH https://ift.tt/1VMjaZw
from Rajesh Harrykissoon, MD

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