UPDATE: $30 Billion from CARES Act $100B to become available to healthcare organizations this week
Last night, CMS announced that it will distribute the first $30 billion in grant funding from the $100B appropriated through the CARES Act to the Public Health and Social Services Emergency fund.
“No strings attached” – these dollars can be spent as healthcare organizations see fit.
Distributed via direct deposit. If a provider does not receive direct deposit from CMS, a basic registration will be required.
Distribution will be based on Medicare revenue, rather than on a first-come, first-served basis.
For providers who receive minimal revenue from Medicare (OB/GYNs, pediatricians, nursing homes) – those providers will be addressed in the second tranche of funding in the coming weeks.
The exact distribution methodology is unclear at this point. CMS has not issued guidance as to whether all Medicare providers and suppliers will receive a portion of this distribution. Based on the language in the CARES Act, the funding may target providers who are providing testing, diagnoses, and care for patients with confirmed and suspected COVID diagnoses.
UPDATE: Additional funding opportunity for some healthcare organizations through FEMA Public Assistance
For eligible private non-profit as well as eligible state, local, tribal, and territorial governments, grant funding through FEMA may be available for certain expenses related to the COVID-19 Public Health Emergency.