October 26 Deadline To Apply For Provider Relief Fund Payments
October 11, 2021Practice Management Financing
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Did your practice suffer lost revenues and/or increased operating expenses between July 1, 2020 and March 31, 2021 compared to the prior year? If so, you’re likely eligible to apply for Phase 4 funding under the Provider Relief Fund (PRF), administered by the Department of Health and Human Services (HHS). But don’t delay; the application window closes October 26, 2021.
These payments are not loans and therefore do not have to be paid back if properly utilized. HHS will be reimbursing smaller practices for their reductions in operating revenues and increased expenses at higher rates compared to larger providers. Moreover, bonus payments will also be made, based on the amount of services furnished to Medicaid/CHIP and Medicare beneficiaries.
If you have questions about your eligibility, or the application process through the HHS portal, contact the Provider Support Line at 866.569.3522 from 8AM-11PM ET Monday-Friday.
The McGill Advisory content Is provided For informational purposes only And does Not constitute legal, accounting, Or other professional advice.
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