Provider Relief Fund: Phase 3 funding offers additional assistance, application process now open

Healthcare providers can now apply for a new round of financial assistance through the U.S. Department of Health and Human Services (HHS) Provider Relief Fund.

HHS, through the Health Resources and Services Administration, will distribute up to $20 billion – the third such phase of HHS funding – as part of ongoing efforts to provide support to healthcare providers for pandemic-related expenses and lost revenues.

Applications for this Phase 3 General Distribution opened Oct. 5 and will close at 11:59 p.m. ET Nov. 6, 2020. We recommend healthcare providers apply sooner rather than later, to expedite the review process and payment calculations. Visit the HHS site for updates about timing and deadlines.

Are we eligible?

You may be eligible regardless of whether you previously were eligible for, applied for, received, accepted, or rejected payment from prior Provider Relief Fund (PRF) general distributions. We recommend you apply for funding if you experienced expenses and/or lost revenues attributable to COVID-19 that have not been reimbursed by other sources. 

What’s new with this round of funding

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 Provider 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.

Next steps

  • Submit your application to the Provider Relief Fund Application and Attestation Portal between Oct. 5, 2020 and Nov. 6, 2020 at 11:59 p.m. ET to be considered for funding from the Phase 3 General Distribution.
  • The portal will collect financial information including operating revenues and expenses from patient care. Please note that the Phase 3 application is slightly different from the Phase 2 form, requiring additional revenue and expense data entries in order to calculate payment based on assessed financial impact of COVID-19. Even if you previously submitted revenue information, you will need to submit a new application so HHS can collect all required fields. All payments will still be subject to the rules regarding permissible use of PRF payments.

Resources

  • The application instructions and sample application form are available here. The website also includes a step-by-step application guide and FAQs. Download and review all these documents to help you prepare for the process.
  • HHS will host a webcast on Oct. 15, 2020 at 3 p.m. ET for potential applicants to review the application process and have their questions answered. You can register here and check the PRF website for updated information.
  • For additional information, call the Provider Support Line at 866- 569-3522; for TTY, dial 711. Hours of operation are 7 a.m. to 10 p.m. CT, Monday through Friday. Service staff members are available to provide real-time technical assistance, as well as service and payment support.

 

If you would like to talk through Phase 3 General Distribution of the Provider Relief Fund and how we can help your practice or facility navigate the application process, please reach out to your Rehmann advisor. You also may contact us at info@rehmann.com.

Rehmann is focused on providing practical guidance and insights to help empower organizations and individuals as we navigate through the uncertainty and complexity of this pandemic, together. Find resources and guidance at our COVID-19 Knowledge Center. Please click here to subscribe to our communications to ensure you remain up to date during these uncertain times.

Published in Business Wisdom

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