CARES Act for Hospitals and Healthcare Providers: Implications of Key Provisions

Description

On Mar. 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law. The law has significant implications for healthcare providers. Among other things, the Act also provides for direct funding for providers. The funding is to reimburse qualified providers for expenses or costs incurred as a result of COVID-19.

The Act also increases by 20% the Medicare payments to hospitals for the hospital stays of patients with COVID-19. The Act also expands the current Medicare accelerated payment program. Those hospitals that are getting accelerated payments will not have to begin repayment of the loan for four months and will have a minimum of 12 months to repay the loan without interest.

The CARES Act expands the availability of telehealth beyond the Families First Coronavirus Response Act. Under the CARES Act, $200 million was appropriated for the Federal Communications Commission to support efforts to address COVID-19 through telehealth services. The CARES Act allows qualified health centers and rural health clinics to be telehealth sites and some of the Medicare requirements are waived during the crisis. The Act also makes SBA loans available.

Listen as our authoritative panel examines the CARES Act and the key provisions that will impact hospitals and healthcare providers. The panel will discuss direct funding that will be available to healthcare providers and the entities that are healthcare providers. The panel will address the changes to Medicare and Medicaid and will also discuss the expansion of telehealth. The panel will offer best practices for leveraging the CARES Act to get through the challenges of COVID-19.