HHS is allocating another $4.5 billion to hospitals and provider groups affected by the COVID-19 pandemic, the agency said Dec. 16.
In October, HHS announced it would give providers $20 billion from the Provider Relief Fund in its phase three general distribution. Now, the agency will offer $24.5 billion to help hospitals and providers offset revenue losses and increased expenses.
HHS said the funding will help each eligible provider recover up to 88 percent of their reported losses attributed to the pandemic.
The agency will begin distributing the $24.5 billion in relief funding Dec. 16 and continue through January 2021. HHS said the funds will be distributed to more than 70,000 providers.
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Source: Becker’s Hospitalreview