More CARES Act Funding Will Be Released This Week- Focus on Providers in Hot Spots

CMS announced Wednesday that details regarding the second round of funding from the $100 billion stimulus package will be released later this week. CMS indicated that a portion of the second round of funding will focus on providers in COVID-19 hot spots.

This second wave of funding follows the $30 billion dispersed last week. The full funding amount coming next for hospitals remains unknown.

CMS is acting in response to feedback that rapid disbursement is top priority. Many hospitals and advocacy groups have criticized the use of Medicare reimbursements as the method to disperse the first round of funding, which inadequately funded providers who have high Medicaid populations or have lower shares of Medicare reimbursement.

Advis continues to monitor updates from CMS. Please contact any of our COVID-19 task force members with your COVID-19 funding questions.

Published: April 16, 2020