The American Rescue Plan provides $8.5B of relief for rural hospitals, nursing homes, home care, physicians and certain other qualifying healthcare providers. The existing guidance is limited but suggests there will be funding available to further support facilities who have existing COVID-19 related short falls due to either or both lost revenues and COVID-19 related expenses.
The guidance suggests there will be an application process. However, due to the limited funding involved and the expectation that requests will be larger than the allotted funding, it is imperative the providers adequately capture ALL COVID-19 related lost revenues and additional expenses. Many providers are at risk of missing their fair share of such funding due to lack of knowledge/insight and/or inherent resource limitations (bandwidth, technical, etc.).
If you have any questions or need additional guidance, Freed Maxick Healthcare can help. Please contact David Brooks, david.brooks@freedmaxick.com or Susan Watkins, susan.watkins@freedmaxick.com or call us at 716.847.2651. For additional information, download our whitepaper below.