As part of the CARES Act, The Department of Health and Human Services is disbursing an additional $20 billion to front line hospitals and other health care providers. The benefits of this fund are available to dental providers.
There is no repayment necessary for these funds, however, it will be treated as taxable income. Please read the terms and conditions as the funds need to be used for certain expenses.
Providers that have already received payments of approximately 2% of annual revenue from patient care may submit more information to become eligible for an additional payment.
How are fund amounts calculated?
A review will take place for applicants to confirm they have received a Provider Relief Payment equal to 2% of patient care revenue from prior general distributions. Applicants that have not yet received Relief Fund payments of 2 percent of patient revenue will receive a payment that, when combined with prior payments (if any), equals 2 percent of patient care revenue.
With the remaining balance of the $20 billion budget, HRSA will then calculate an equitable add-on payment that considers the following:
A provider’s change in operating revenues from patient care
A provider’s change in operating expenses from patient care, including expenses incurred related to coronavirus
Payments already received through prior Provider Relief Fund distribution
SHOULD I APPLY?
Additional funds are available, however, it is unclear what the amount of additional funds you’d receive if you have already received 2% of patient revenue through previous provider relief funding rounds.
This is a decision based on what you think you need for your practice. We are happy to help provide financial information needed if you do decide to apply for additional funding. You will need to provide additional information with this round related to operating expenses and revenues.