COVID-19 Recovery Funds (CARES Act, FEMA, and Others)
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There are several sources of funds available for healthcare providers to access, but there are complexities related to compliance and reporting. Most hospitals have acted on some benefits; e.g., telehealth billing, accelerated Medicare payments, add-on payments. In addition, there is the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which has created a $100 billion fund administered through the Public health and Social Services Emergency Fund (PHSSEF) to cover nonreimbursable expenses attributable to COVID-19. And many hospitals are preparing to apply for FEMA funds. However, the guidance around quantifying damages is anything but clear.
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