In some welcome news for providers, the U.S. Department of Health and Human Services has announced the commencement of the application period for the "Phase 3" distribution from the CARES Act Provider Relief Fund. As a health care provider, here is what you need to know:
Purpose: to provide funding to providers who have lost revenues and/or increased expenses attributable to COVID-19 that have not been reimbursed by other sources. However, it is important to note that providers who received funds from Phase 1 or 2 distributions of the Relief Fund are still eligible for Phase 3 funds.
Covered Providers: a wide variety of health care providers are covered in Phase 3, including pharmacies, DME suppliers, home health agencies, physicians and other direct and ancillary care providers as well as institutional providers.
Eligibility: the eligibility requirements are based on mix of billing and operational history. In general, to be eligible, a provider must have billed a Medicaid or Medicaid-managed care plan between January 1, 2018-March 31, 2020 or Medicare FFS between January 1, 2019-March 31, 2020. For certain providers, there are other ways of meeting the billing requirements. Additionally, the applying provider must have provided patient care after January 31, 2020 and did not permanently cease providing patient care directly or indirectly (i.e. the provider must still be operational). Other requirements may apply depending on the provider's operational history.
Important Dates: November 6, 2020 is the deadline for applications and all required documentation, which include tax returns, revenue worksheets and operating revenues and expenses for patient care. Providers, however, are urged to begin applying as early as possible, and are advised to begin gathering all necessary documentation at this time.
Further Steps: within 90 days of receiving funds from the Phase 3 distribution, providers must attest to compliance with HHS' terms and conditions for such payment.
For guidance on applying for Phase 3 funding or any other programs providing Covid-19 relief, please feel free to contact our health care team at email@example.com or by calling or texting us at 212-668-0200.