Providers may be eligible for additional economic relief via the Paycheck Protection Program and Health Care Enhancement Act.
The Paycheck Protection Program and Health Care Enhancement Act was signed into law by President Trump on April 24. Although a large portion of the $484 billion economic relief package is dedicated to helping small businesses, the Act provides a significant infusion of funding into the provider relief fund established by the CARES Act. Specifically, $75 billion in funds will be available to help support efforts to combat COVID-19. The funds are designed to help healthcare organizations at the most financial risk or those less likely to have received funding in the initial $100 billion allocation. On top of that, another $25 billion is being made available for COVID-19 testing. Guidance on eligibility, terms and conditions, and reporting requirements for the additional funding will be coming soon from HHS.