The Biden administration is distributing about $560 million in Provider Relief Fund payments to healthcare providers, with a focus on small businesses.
The funds are part of a nearly $11.5 billion tranche of Phase 4 financing that has been issued to more than 78,000 providers to help them recover financially from fighting COVID-19, according to the Health Resources and Services Administration.
In a statement, Health and Human Services Secretary Xavier Becerra stated, “Provider Relief Funds have been a lifeline for health care providers around the country.” “These monies will assist many health care facilities weather the pandemic’s prolonged effects, from providing life-saving care to addressing workforce problems.”
According to HRSA, the payments place a greater emphasis on health equity. Smaller providers suffered a higher percentage of losses, thus the agency paid more money to help them. Bonus payments were also included for providers with big Medicaid or other government programme patient groups.
Also Read :-
According to HRSA, “about 86 percent of all Phase 4 applicants have now been processed.” “Remaining applications will be reviewed through early 2022,” says the statement.
The CARES Act, which was passed in 2020, established a $178 billion relief fund to assist providers who were financially impacted by the pandemic.
The Biden administration has made it a priority to direct remaining cash to smaller suppliers with lower profit margins.
HHS has been chastised by lawmakers for delaying disbursing the remaining cash, despite the fact that providers have been hit by many fresh outbreaks of the virus.