$20 BILLION IN NEW PHASE 3 PROVIDER RELIEF

The $20 billion Provider New Phase 3 Relief Funding is now open and you have from October 5, 2020 to November 6, 2020 to submit your application.
Have you submitted your application yet?

The HHS through HRSA (Health Resources and Services Administration) had announced the $20 billion New Phase 3 Relief Funding which began yesterday, October 5, 2020. 

Who are covered? Read Provider Eligibility.

HHS is making a large number of providers eligible for Phase 3 General Distribution funding, including:

1. Providers who previously received, rejected or accepted a General Distribution Provider Relief Fund payment. Providers that have already received payments of approximately 2% of annual revenue from patient care may submit more information to become eligible for an additional payment.
2. Behavioral Health providers, including those that previously received funding and new providers.
3. Healthcare providers that began practicing January 1, 2020 through March 31, 2020. This includes Medicare, Medicaid, CHIP, dentists, assisted living facilities and behavioral health providers.

Understanding the Provider Relief Phase 3 Funding Payment Methodology.

All eligible providers will be considered for payment against the below criteria.

1. All provider submissions will be reviewed to confirm they have received a Provider Relief Fund payment equal to approximately 2 percent of patient care revenue from prior general distributions. Applicants that have not yet received Relief Fund payments of 2 percent of patient revenue will receive a payment that, when combined with prior payments (if any), equals 2 percent of patient care revenue.
2. With the remaining balance of the $20 billion budget, HRSA will then calculate an equitable add-on payment that considers the following:

• A provider’s change in operating revenues from patient care
• A provider’s change in operating expenses from patient care, including expenses incurred related to coronavirus
• Payments already received through prior Provider Relief Fund distributions.

​All payment recipients will be required to attest to receiving the Phase 3 General Distribution payment and accept the associated Terms and Conditions.

Pay Attention with the Deadline.

Healthcare Providers will have from October 5, 2020 through November 6, 2020 to apply for Phase 3 General Distribution funding.

Funding for this Phase 3 General Distribution was made possible through the bipartisan CARES Act and the Paycheck Protection Program and Health Care Enhancement Act, which allocated $175 billion in relief funds to hospitals and other healthcare providers.

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Source of Information: ​https://www.hhs.gov/about/news/2020/10/1/trump-administration-announces-20-billion-in-new-phase-3-provider-relief-funding.html