HHS announced Aug. 14 that it is sending $1.4 billion in COVID-19 relief funds to 80 children’s hospitals.
Here are five things to know about the distribution of the relief funds:
1. HHS said the 80 freestanding children’s hospitals will receive 2.5 percent of their net revenue from patient care.
2. A preliminary state-by-state breakdown of the payment allocations shows the biggest slice of the funds is going to Ohio. More than $165 million will be split between five hospitals in Ohio. HHS said it will update the state-by-state breakdown after validating the data of 24 additional children’s hospitals.
3. HHS will begin distributing the funds the week of Aug. 17.
4. HHS said the funding will ensure freestanding children’s hospitals “receive the financial relief they urgently need to offset revenue losses” linked to the COVID-19 pandemic.
5. The funding was made possible under the Coronavirus Aid, Relief and Economic Security Act, which allocated $175 billion in relief aid to hospitals and other healthcare providers.
More articles on healthcare finance:
Medicare payment rules for 2021: 11 notes for hospital execs
Steward, medical billing company accused of illegal ‘revenue enhancement’ scheme
CMS unveils new payment model for rural hospitals: 10 things to know
© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.