Nursing Homes Get an additional $1.1 Billion in Relief
The Department of Health and Human Services (HHS) announced on December 16th that they will be expanding the third phase of COVID-19 relief by giving nursing homes an extra $1.1 billion. The funding to healthcare providers increased to $24 billion from the initial $20 billion. It was determined that more funds would be necessary to cover increased expense and lost revenues. According to HHS, this additional funding will help providers cover 88% of their losses. This new relief will help more than 70,000 healthcare providers including nursing homes, rural providers and safety net hospitals.
This third phase of funding provides additional relief to homes, who also received blanket cash which was specifically allocated to Medicaid and Medicare providers. Nursing homes have also received $856 million so far from value-based incentive programs that helped to reduce COVID-19 infection and death rates.
All of this funding is part of the $2 trillion CARES Act relief package from the Provider Relief Fund.