May 6, 2020
Hi Everyone! In this post, I want to talk about the funding your organization may have received in its bank account last week from HHS. In mid-April HHS started releasing $30 billion in relief payments to hospitals and clinics across the United States. All of this happened so quickly that most providers and organizations didn’t know what to do with the funding and were afraid to use it.
So here’s what we know:
- This pertains to Medicare facilities and Providers specifically.
- The funding was released to every organization that received payment from CMS in 2019.
- It is to be used to help with any additional costs organizations and providers have encountered due to COVID19.
- It is based on a percentage of your 2019 Medicare payments.
Check out the CMS Provider Relief page here for more information about the funding.
Now, how do we keep this funding?
- Organizations and providers that received funding must attest to the terms and conditions within 30 days of receiving the funds. You can do that here.
- Keep detailed documentation of all additional costs your organization has encountered due to COVID19. This could be anything from additional PPE and cleaning supplies to equipment you needed to purchase to comply with new guidelines.
- Several providers are creating audit binders to prove what the funding was used for. These audit binders include detailed spreadsheets of additional costs, receipts for supplies purchased due to COVID19 and any information from accrediting bodies to help support the need for funding.
- Consult with your accrediting body for any additional documentation they have to help support your claim to this funding. Many of the specialty societies and academies have created COVID19 help centers with helpful information for providers during this time.
- Schedule a meeting with your accounting and legal team to review the information you have and find out what you may be missing.
Contact eMedApps today If you have any additional questions.
