The U.S. Department of Health and Human Services (HHS) announced it has completed review of Phase 3 applications for the Provider Relief Fund (PRF) and will distribute approximately $24.5 billion to over 70,000 providers.
HHS states this satisfies nearly 90 percent of the funding reported lost by each applicant and net change in expenses caused by the COVID-19 pandemic. Of note, the $24.5 billion allotment is in excess of the original $20 billion in funding planned for this latest distribution (details). The department states it “realized the submissions for lost revenues and net changes in expenses would exceed” the original planned funding amount and adjusted accordingly. It further notes that 35,000 providers will not receive additional funding either because they did not experience a change in revenues attributable to the pandemic or because the funding received to date equaled at least 88 percent of their reported losses.
In addition, HHS states certain providers more severely impacted by the pandemic will receive additional financial relief. For example, HHS says nursing homes will receive additional Phase 3 funding amounting to $1.10 billion and that ambulance providers will receive $1.48 in Phase 3 funding.
Distribution of these payments begins today and will occur through January 2021. A state-by-state breakdown of funding allocations is available here and will be updated through January 2021.