Nov 6th is Last Day to Apply for Phase 3 of Provider Relief Fund
Our strategic partner, the Medical Group Management Association (MGMA), has posted this reminder regarding Phase 3 of the Provider Relief Fund application deadline:
Eligible providers have until Nov. 6 at 11:59 pm ET to apply for $20 billion in funding from Phase 3 of the Provider Relief Fund (PRF) General Distribution. Under the current phase, providers that have already applied for or received PRF payments are invited to apply for additional funding that considers financial losses and changes in operating expenses due to COVID-19. The Department of Health & Human Services also expanded eligibility for payments in Phase 3 to include certain behavioral health providers and new healthcare providers that began practicing between Jan. 1 and March 31 of this year.
If an applicant has not yet received (and retained) a payment equal to approximately 2% of annual revenue from patient care as part of either Phase 1 or 2 of the General Distribution, then they should receive at least that amount in Phase 3. Groups that already received payments at or above 2% of annual patient care revenue can also apply and have the potential to receive an additional payment amount higher than 2%. The exact formula for these add-on payments is not yet known; the additional percentage paid to providers will depend in part on how many providers apply in Phase 3 and will therefore be determined after the application deadline.