On October 5th, 2020 Phase 3 of the Provider Relief Funding was opened for enrollment. Providers will have until November 6, 2020 to apply for additional funding which will distribute another $20 billion dollars in Provider Relief. Even if a practice received funding previously they still can qualify and it is clear that many providers continue to struggle financially because of COVID-19’s impact. The new Phase 3 General Distribution is designed to help assure payment of 2 percent of annual revenue from patient care for all applicants plus an add-on payment to account for revenue losses and expenses attributable to COVID-19. If a practice has already received a payment of 2% of their annual patient revenue they can still apply for additional funding.
These relief programs are rapidly evolving and this is only a brief announcement related this brand new Phase 3.
Requirements from the Provider Relief Fund terms and conditions include (not exhaustive):
- To be eligible, provider must have provided diagnosis, testing, or care for actual or possible COVID-19 patients on or after Jan.31, 2020 (Note: HHS broadly views every patient as a possible case of COVID-19 for purposes of eligibility)
- Payment will be used to prevent, prepare for, and respond to coronavirus, and reimburse 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
- Recipient consents to public disclosure of payment
The provider would need to apply online and also attest to the terms and conditions. These terms and conditions are not difficult for most practices and yes it does mention some interesting requirements including not using the funds “on any project that entails the capture or procurement of chimpanzees obtained from the wild” (Page 7). Click here to review the “Phase 3 General Distribution Terms and Conditions”
If a practice has not received at least 2% of their annual revenue through the provider Relief Fund they are encouraged to apply. Also practices are encouraged to apply for additional funds if necessary through November 6, 2020. There is also a dedicated Provider Relief Hotline at (866) 569-3522
Here are links that we have found to be useful:
Phase 3 Provider Relief Announcement
Cares Act Provider Relief Fund HHS Site
Phase 2 and 3 Provider Attestation Site
At Medical Management Support Services we not only provide excellent billing services but we also help our clients navigate and understand what is available during these rapidly changing times. We have seen impacts for many specialties including General Medicine, Family Practice, Gastroenterology, Gerontology, Behavioral Medicine, Physical Therapy, Podiatry, Pathology, Dermatology and Optometry. We also work with patients to collect their bills with compassion and have spoken to many who have been impacted by COVID-19 because of health or economic issues. Every single practice and every single patient has been impacted by COVID-19. This new Phase 3 Funding will only be available for application until November 6, 2020. If a practice has been impacted by COVID-19 they are encouraged to look more deeply. If you have any questions please do not hesitate to contact our office at (800) 734-7486.