HHS Announces Release of Provider Payments
April 10, 2020
The U.S. Department of Health and Human Services (HHS) announced it will begin today to deposit the first wave of payments to hospitals and other providers from the $100 billion Public Health Social Services Emergency Fund included in the IHA-supported CARES Act. The first infusion of funds will deliver $30 billion to assist providers with the drastically higher costs and lost revenue due to the COVID-19 pandemic.
Payments will begin to arrive today via direct deposit, and are based on Medicare fee-for-service (FFS) reimbursements in 2019. An overview of the formula, distribution and other details as announced by HHS are outlined in an IHA memo.