COVID-19 Updates: HHS announces Provider Relief Fund distribution, June 30 Paycheck Protection Program (PPP) loan deadline.
HHS Announces Provider Relief Fund Distribution
HHS announced today that eligible Medicaid and CHIP providers can report their annual patient revenue, which will be used as a factor in determining their Provider Relief Fund payment with a total of $15 billion being dedicated for these providers. The payment to each provider will be at least 2 percent of reported gross revenue from patient care with the final amount each provider receives determined after the data is submitted, including information about the number of Medicaid patients served by the provider.
To be eligible for this funding, dentists must not have received payments from an earlier $50 billion Provider Relief Fund General Distribution and either have directly billed their state Medicaid/CHIP programs or Medicaid managed care plans for health care-related services between Jan. 1, 2018 to May 31, 2020.
On Wednesday, HHS is launching an enhanced Provider Relief Fund Payment Portal that will allow eligible Medicaid and CHIP providers to report their annual patient revenue.
The ADA has been actively lobbying HHS on how this fund could best provide relief to dentists.
PPP Funding Still Available - Deadline June 30
There is more than $130 billion in PPP funding still available for small businesses, independent contractors, nonprofits and tribal businesses whose operations were impacted by the Coronavirus outbreak.
With the enactment of the Paycheck Protection Program Flexibility Act, there is more flexibility, such as the extension of time to spend loan proceeds from eight weeks to 24 weeks and the expansion in the percentage of funds that can be used for non-payroll expenses.
The last date on which a PPP loan application can be approved is June 30, 2020.
Find a Lender
For more information, review the ADA’s updated Fact Sheet: SBA Loans for Dentists or register for the ADA live webinar SBA Loans Programs: An Update for Dental Practices on Friday, June 12 at Noon PT (an on-demand recording will be available within two business days).
Dr. Dennis Bradshaw