Health Care Providers to Receive Grant Funding This Week
April 10, 2020
On April 7th the Centers for Medicare and Medicaid Services (CMS) stated in an announcement that $30 billion in grants, which is a portion of the $100 billion of funding provided under the CARES Act to support hospitals, will start to be distributed on Friday of this week. Where the government has the hospitals’ account information on file, these funds will be deposited directly into hospitals’ bank accounts, but some providers may have to register to receive their share or wait a few weeks to receive paper checks. These grants are apportioned to hospitals based on their reported Medicare revenue “with no strings attached,” according to CMS Administrator Seema Verma.