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COVID-19 Update: CARES Act Allocates Additional $100B in Grants for Healthcare Providers

On April 10, 2020, the U.S. Department of Health and Human Services (HSS) announced an additional $100 billion in grants for Medicare-enrolled providers. This grant was created by the CARES Act to provide assistance to physician practices, hospitals and other providers negatively impacted by the COVID-19 pandemic. Of this, $30 billion has already been disbursed to providers. This disbursement equates to approximately 6.2 percent of a medical provider’s 2019 billings. This is a grant, not a loan.

The HHS has just launched an online portal for providers to upload additional documents and information to see if they are eligible for additional funds and to attest to certain HHS terms and conditions.

Please contact your Janover professional for more information.

 

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