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The $70 Billion Question – CARES Act Provider Relief Fund Helping Hardest Hit Hospitals First

Client Alert

HHS finally unveiled its preliminary plan for disbursement of the remaining $70 billion of CARES Act Provider Relief Funds. The initial $30 billion was disbursed to providers based on 2019 Medicare fee-for-service payments. HHS indicated that the remaining $70 billion would be disbursed to (1) providers that incurred COVID-19 expenses, (2) rural providers, (3) providers that primarily receive payments from other sources (such as Medicaid), and (4) providers that treat uninsured Americans.

How will the funds be distributed?

First, $10 billion will go to hospitals that have been impacted hardest by COVID-19. This will be based upon the total number of admitted patients who tested positive for COVID-19. Hospitals will have until April 23, 2020 at midnight to apply and should have received an email with a link to the portal (there is no website similar to the payment attestation).

Providers will need to submit the following information (HHS estimates this should take 5 minutes):

  • Tax Identification Number
  • National Provider Identifier
  • Total number of Intensive Care Unit beds as of April 10, 2020
  • Total number of admissions with a positive diagnosis for COVID-19 from January 1, 2020 to April 10, 2020

Second, an additional $20 billion will be rolled out based on overall patient revenue. There will likely be an application or reporting mechanism. Payments will be issued on a rolling basis. Stay tuned for updates on application release or additional information.

Third, an additional $30 billion is set aside for SNFs, dentists, and providers that only service Medicaid providers.

More information can be found by following the link below.

https://www.hhs.gov/about/news/2020/04/22/hhs-announces-additional-allocations-of-cares-act-provider-relief-fund.html

For questions, contact your primary BMD Healthcare or Hospital Law attorney.


Planning for Wealth: Lessons from Athletes, Entertainers, and Executives

The financial challenges and strategies used by high-income earners like Donovan Mitchell, Taylor Swift, and Jamie Dimon are not just for the wealthy—they can apply to anyone managing significant assets. This article delves into essential wealth management techniques, from leveraging tax exemptions to navigating major liquidity events, providing valuable insights to help you achieve financial stability and preserve your wealth.

The Ohio Department of Medicaid Amends Fraud, Waste, and Abuse Rules

Ohio Department of Medicaid has updated definitions of fraud, waste, and abuse as well as given specificity and clarity to the list of examples.

Ohio Department of Medicaid Proposes Changes to Dental Reimbursement and Coverage Rule

The Ohio Department of Medicaid is proposing amendments to Ohio Administrative Code. There will be a hearing on the proposed rule changes August 12, 2024.

Will Division II and III Athletic Programs Survive the New Era of College Athletics?

The potential reclassification of student-athletes as employees presents major financial challenges for Division II and III sports programs, which may struggle to afford the costs and could be forced to cut or eliminate non-revenue-generating sports. Recent legal rulings, including the Alston case and Johnson v. NCAA, have challenged the NCAA's amateurism model and prompted a need for innovative solutions to sustain these programs.

Corporate Transparency Act: Business Owners Must Act Now

The Corporate Transparency Act requires all reporting companies to file their Beneficial Ownership Information (BOI) report by year-end to avoid penalties. Companies formed before January 1, 2024, have less than six months to comply. Learn more in a client alert by BMD Member Blake Gerney.