HHS to Begin Distributing Another $24.5 Billion in Provider Relief Funding
On Dec. 16, the U.S. Department of Health and Human Services (HHS) announced details on Phase 3 of the CARES Act Provider Relief Funding (PRF) originally announced in early October, as covered in an earlier issue of The Valued Voice
According to the announcement
by HHS, approximately $24.5 billion will be distributed to more than 70,000 health care providers. The funding will cover up to 88% of COVID related losses reported by providers on their applications. More than 105,000 providers applied, but 35,000 were denied funding due to their applications showing they had either "experienced no change in revenues or net expenses attributable to COVID-19, or because they have already received funds that equal or exceed reimbursement of 88 percent of reported losses."
According to HHS
, 893 Wisconsin health care providers will receive a total of $255 million in funding from this tranche, though no breakdown of provider type was shared in this distribution. HHS has not yet announced plans for the approximately $20-$30 billion that will remain in the Provider Relief Fund after this tranche goes out.
WHA continues to advocate for more flexibility for how hospitals can spend CARES Act funds received through the Provider Relief Fund. Please contact WHA's VP Federal and State Relations Jon Hoelter
This story originally appeared in the December 17, 2020 edition of WHA Newsletter