Wednesday, April 15, 2020

Financial Assistance for Skilled Nursing Centers

CARES Act Provider Relief Funds

On Friday, April 10, the U.S. Department of Health and Human Services (DHHS) released the first round of the $100 billion in relief funds to hospitals and other health care providers on the front lines of the coronavirus response. This funding will be used to support health care-related expenses or lost revenue attributable to COVID-19 and to ensure uninsured Americans can get testing and treatment for COVID-19. Learn more on the CARES Act Provider Relief Fund webpage and from AHCA’s summary on April 10.

For additional details, AHCA/NCAL has developed some FAQs specific to long term and post-acute care providers.

No-Interest COVID-19 Financial Support Available 

The Centers for Medicare and Medicaid Services (CMS) COVID-19 Accelerated and Advance Payment Program is a streamlined version of existing policy that allows Medicare Administrative Contractors (MACs) to issue no-interest short term loan payments in certain circumstances, including national emergencies. AHCA members and Independent Operator Council co-chairs Sarah Schumann and Mark Traylor, who submitted requests for and quickly received the accelerated payments, have the following recommendations for their peers:

“We strongly recommend that SNF operators take full advantage of the CMS COVID-19 Accelerated Payment Program. It’s a simple 5-10-minute process to complete and submit the application for an interest-free loan to assure adequate cash-flow during these challenging times. Since it must be paid back later, we suggest setting this advance into a separate reserve account to use as an emergency fund.”

Providers can learn more the Accelerated and Advance Payment Program though AHCA’s FAQ document here.

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