April 24, 2020
Two weeks ago, the Department of Health and Human Services (HHS) distributed $30 billion out of the $100 billion fund for providers created under the CARES Act. On April 22, 2020, HHS announced that the remaining $70 billion will be allocated in the coming weeks as follows:
- $20 billion to providers based on net patient revenues from all sources from 2018 (the initial $30 billion was based on Medicare revenues only);
- $10 billion to hospitals in areas that have been significantly impacted by COVID-19;
- $10 billion to rural hospitals;
- $400 million to Indian Health Service facilities;
- The remainder to be allocated in other ways, including money for skilled nursing facilities and providers that rely primarily on Medicaid.
For the $20 billion general fund, providers for whom the Centers for Medicare & Medicaid Services (CMS) already have cost reports may receive funds as early as this week. Other providers can submit revenue information for the $20 billion general fund to a provider portal that HHS will launch next week. Those distributions will likely occur in mid-May.