April 24, 2020
The U.S. Department of Health and Human Services (HHS) released the formula providers can use to estimate their total general revenue distribution from the CARES Act: (Individual Provider Revenues/$2.5 Trillion) X $50 Billion = Expected Combined General Distribution.
HHS will begin distributing payments from the remaining $20 billion of the $50 billion general allocation on April 24. To estimate your hospital’s remaining payment, subtract your first tranche payment from your expected combined general distribution. The payments will once again come via Optum Bank with “HHSPAYMENT” as the payment description. All relief payments are made to provider billing organizations based on their Taxpayer Identification Numbers (TINs).
As a reminder, all providers are required under the Terms and Conditions to submit revenue information to the provider portal for verification. Additionally, within 30 days of receiving the payment, providers must sign an attestation confirming receipt of the funds and agreeing to the terms and conditions of payment. Terms and conditions, the CARES Act Provider Relief Fund Payment Attestation Portal, and additional information can be found here. Not returning the payment within 30 days of receipt will be viewed as acceptance of the Terms and Conditions.
For more information on additional CARES Act funds, see IHA’s memo.