The Coronavirus Aid, Relief, and Economic Security (CARES) Act and new guidance from the Centers for Medicare & Medicaid Services (CMS) both contain provisions to provide financial support to qualified providers. ASCO strongly encourages providers to immediately begin meticulously documenting health care–related expenses or lost revenues that are attributable to COVID-19 to ensure they can qualify for this support.
New COVID-19 Provider Fund
The CARES Act established a provider fund that includes $100 billion for eligible providers for health care–related expenses or lost revenue attributable to COVID-19.
Based on an initial assessment of the legislation, ASCO believes that to be eligible for a payment, providers will need to submit an application to the Secretary of the Department of Health and Human Services that includes a statement justifying their need for payment. It is likely that recipients will also be required to submit reports and maintain documentation as to ensure compliance with conditions for receiving such payments.
Expansion of the Accelerated and Advanced Payment Program
CMS released official guidance expanding its current Accelerated and Advance Payment Program to a broader group of Medicare Part A providers and Part B suppliers. The expansion of this program will last only for the duration of the COVID-19 emergency.
To qualify for advance/accelerated payments, providers and suppliers must:
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