Kafkaesque: “having a nightmarishly complex, bizarre, or illogical quality. e.g. Kafkaesque bureaucratic delays.”
We have a few updates on the Provider Relief Fund to share:
$20,000,000,000 Disbursement to Start Tomorrow
In contrast to the first 30 billion dollars, which was split up based on your share of Medicare billing, the split for this next 20 billion dollars will be determined by your 2018 net patient revenue. Here is all the available information from HHS as of 4/23/2020:
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“HHS will begin distribution of the remaining $20 billion of the general distribution to these providers on April 24 to augment their allocation so that the whole $50 billion general distribution is allocated proportionally to providers’ share of 2018 net patient revenue.
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On April 24, a portion of providers will automatically be sent an advance payment based on the revenue data they submit in CMS cost reports. Providers without adequate cost report data on file will need to submit their revenue information to a portal opening this week linked on this page for additional general distribution funds.
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Providers who receive their money automatically will still need to submit their revenue information so that it can be verified.
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Payments will go out weekly, on a rolling basis, as information is validated, with the first wave being delivered at the end of this week (April 24, 2020).”
Instructions on how to pull your net patient revenue can be found below. Like the first round of payments, Claimpower will not charge a commission on these funds.
Coverage for Uninsured Patients
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Every health care provider who has provided treatment for uninsured COVID-19 patients on or after February 4, 2020, can request claims reimbursement through the program and will be reimbursed at Medicare rates, subject to available funding.
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Steps will involve: enrolling as a provider participant, checking patient eligibility and benefits, submitting patient information, submitting claims, and receiving payment via direct deposit.
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Providers can register for the program on April 27, 2020, and begin submitting claims in early May 2020. For more information, visit coviduninsuredclaim.hrsa.gov.
What You’re Agreeing to by Taking the Money
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You will not balance bill any patients
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You will probably get audited by Medicare in a year or two. Make sure to keep clear records of how you are spending the money. If you’ve received funding from multiple programs, you must make it clear you are not double-dipping
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Executive pay must be capped at $197,000
How to Calculate Net Patient Revenue
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Go to the reporting website
2. Hit ‘Financial Summary’
3. Enter ‘y-2’ (1/1/2018) to y-2 (12/31/2018) in the select date fields. Check “Payment Records in above period” under view. Hit run report.
4. Scroll to the bottom of there report to where it says “Payments Received from 1/1/2018 to 12/31/2018.” Submit the total through the portal.
