HHS Provider Relief Fund Distribution Window Closes on November 6th
The application period for the most recent phase of the HHS Provider Relief Fund distributions (Phase 3) is open. If you are intending to take part in this, act soon as applications must be received by November 6, 2020. Up to $20 billion will be paid out with this distribution.
Phase 3 funding is available to providers of health care, services, and support in a medical setting, at home, or in the community. All providers who were eligible for a previous distribution (including dental), plus providers new in 2020, and behavioral health providers may apply for this phase of funding.
You should consider applying for this funding if you:
Have not already received prior general distributions equal to approximately 2% of patient revenue
Have experienced expenses and/or lost revenues attributed to COVID-19 that have not been reimbursed by other sources
The application process is via the Provider Relief Fund Application and Attestation Portal found at https://cares.linkhealth.com. The following information must be submitted with the application:
Most recent federal income tax return
Operating revenues and expenses from patient care for Q1 and Q2 2019 and 2020
This Phase 3 distribution will first reimburse eligible providers for 2% of their annual patient care revenue, if not previously received through prior Provider Relief Fund distributions. Distribution of the remaining funds will take into account a provider’s change in operating revenues and operating expenses from patient care for the first two quarters of 2020 compared to the first two quarters of 2019. Providers will be paid a percentage of this change, and the percentage will be in part dependent on how many providers apply in Phase 3. Hence, payment determinations will not be made until after the application deadline.
Within 90 days of receiving payment, applicants must attest that they meet the terms and conditions of payment. The terms and conditions include (this is not an all-inclusive list):
Payment will only be used to prevent, prepare for, and respond to coronavirus, and will only reimburse the recipient for healthcare-related expenses or lost revenues attributable to coronavirus.
Payment will not be used for expenses or losses that have been, or will be, reimbursed from other sources.
Provider consents to public disclosure of payment.
Be sure to read through the entire terms and conditions for more details.
Don’t miss your chance for funding! Submit your application now before the window closes on November 6th.
Contact your SVA professional if you have questions on the application, or contact Lee Schwartz at email@example.com if you are looking for assistance with your accounting needs.