COVID-19: Provider Relief Fund explained

May 5, 2020
Categories: Home health
Reading Time: 2 minutes

Link Healthcare Advantage and MatrixCare have teamed up to help give insight into what is happening within the industry and hopefully address some of those unanswered questions, that maybe you didn’t even know to ask.

Many of you should have received an initial payment from the Provider Relief Fund as outlined in the CARES Act. The funding is to be used to support healthcare-related expenses or lost revenue attributable to COVID- 19. The first wave of payments totaling $30 billion was distributed between April 10 and April 17 with the remaining $20 billion being distributed starting April 24. The initial distribution is not a loan but much-needed economic support for agencies. The funds paid do not have to be paid back as long as you meet the requirements set out in the CARES Act. You must sign an attestation of receipt and acknowledge the terms and conditions.

As part of the terms and conditions, the agencies are required to use the funds as reimbursement for healthcare-related expenses or lost revenue associated with COVID-19. Agencies may be asked to submit reports as determined by the Secretary of the Department of Health and Human Services (DHHS) to ensure compliance. Many agencies have been asking, what exactly should I be documenting? Although there is no formal outline for reports related to the initial payment disbursement, there are requirements for recipients that receive more than $150,000 from the CARES Act.

Report requirements (per the DHHS Acceptance of Terms and Condition for over $150,000 received) are to provide a:

  • Total amount received under the CARES Act.
  • List of activities for which funds were expended.
    • The following are some examples of documentation, please be aware that these examples have not been confirmed by DHHS as being required or approved expenditures):
      • Cost of additional personal protective equipment (PPE) related to COVID-19
      • Cost of additional training related to COVID-19
      • Wages paid to retain employees, especially for those with low census
      • Total of unreimbursed care for COVID-19 patients
      • Co-pays not charged for COVID -19 patients or potential patients
      • Cost of lab equipment related to COVID-19
      • Cost of mileage related to COVID-19 activities (additional trips to labs, service outside of normal service area)

In addition to the initial payment, there is $20 billion available for agencies that provide care for COVID-19 patients that are uninsured. This will require an additional sign-up with the DHHS. Agencies should continue to monitor DHHS news releases for any additional reporting requirements.

Learn more about how MatrixCare Home Health & Hospice is supporting providers through COVID-19 and beyond.

Want to learn more? Let’s connect!

Disclaimer: we are not endorsing this information for the accuracy or validity of the content. We encourage you as appropriate, to verify clinical and regulatory content with your own trusted sources.

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