COVID-19 Recovery Funds (CARES Act, FEMA, and Others)
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, and others). 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.