HHS distributing $24 billion in Phase 3 Provider Relief Funding

HHS distributing $24 billion in Phase 3 Provider Relief Funding

Providers anxiously waiting for additional government funding to offset pandemic-related losses received a salve Wednesday when HHS announced it is now distributing more than $24 billion in Phase 3 Provider Relief Fund payments.

During this round, HHS prioritized applicants that had not already received a baseline payment of 2 percent of their annual revenue from patient care. HHS also enhanced the Phase 3 distribution to consider the actual revenue losses and expenses experienced by providers that were attributable to COVID-19. Because submissions for lost revenue exceeded HHS’s initial expectations, the total Phase 3 distribution was increased to $24.5 billion, up from the $20 billion originally planned.

The funding will cover providers for up to 88 percent of their reported losses. More than 35,000 applicants will not receive an additional payment either because they experienced no change in revenues or net expenses attributable to COVID-19, or because they have already received funds that equal or exceed reimbursement of 88 percent of reported losses, according to a press release issued by HHS.

A state-by-state breakdown on the first batch of Phase 3 payments can be found here – PDF. This data will be updated through January as Phase 3 payments are completed.

The state-by-state data is tied to the state in which a recipient’s TIN is registered. After recipients attest to the terms and conditions for funding, they will be listed in the PRF public dataset.