HSC MEDICAL BILLING
CORONAVIRUS 
C OMMUNICATION  

April 24, 2020
Edition #5
More Provider Relief Funds Coming 
 
As previously reported, $50 billion of the Provider Relief Fund is allocated for general distribution to Medicare facilities and providers impacted by COVID-19.The initial $30 billion was distributed between April 10 and April 17. It was announced April 22 that the
remaining $20 billion is being distributed beginning Friday, April 24.
  • HHS will begin distribution of the remaining $20 billion of the general distribution to these providers on April 24 to augment their allocation so that the whole $50 billion general distribution is allocated proportional to providers' share of 2019 Medicare receipts and 2018 net patient revenue.
  • On April 24, a portion of providers will automatically be sent an advance payment based off the revenue data they submit in CMS cost reports. Providers without adequate cost report data on file will need to submit their revenue information to a portal opening this week for additional general distribution funds. We have not yet been made aware of the link to this portal.
    • Providers who receive their money automatically will still need to submit their revenue information so that it can be verified.
  • Payments will go out weekly, on a rolling basis, as information is validated, with the first wave being delivered at the end of this week (April 24, 2020).
Please contact Brenda Wallace, CPA, CMPE, CEO at bwallace@hsccpa.com  for more information.
Malpractice Coverage for Telehealth Services
 
If you are rendering any care via Telehealth, we advise that you contact your professional liability carrier to confirm your policy covers telehealth or if not, to request specific coverage.

Through feedback from medical practice clients, we have discovered that:
  • Some malpractice insurance carriers DO NOT automatically cover telehealth services.
  • Some carriers specifically state telehealth coverage IS included in the current existing policy.
  • For those not currently covered, some carriers will amend a provider's policy to add the coverage at no additional cost.
  • For some malpractice carriers, an additional rider to the policy is required resulting in an extra cost.
  • Some malpractice carriers provide different policies and the date the original policy was drafted will determine whether telehealth is or isn't included as a covered service. 

We recommend requesting written documentation, even if by email, from the insurance carrier regarding confirmation of the coverage and the effective date to maintain for your files until receipt of a new policy or policy amendment.


 

Please contact Brenda Wallace, CPA, CMPE, CEO at bwallace@hsccpa.com  for more information.
Negative Financial Impact - You Are Not Alone 
 
An overwhelming majority (97 percent) of physician practices have experienced a negative financial impact directly or indirectly related to COVID-19, with most seeing physician practice revenue and patient volume declining, a new survey reveals.

The survey released Tuesday by the Medical Group Management Association (MGMA) found that physician practice revenue has decreased by 55 percent on average since the beginning of the COVID-19 crisis, while patient volume has fallen by an average of 60 percent.

Link to Survey

Please contact Brenda Wallace, CPA, CMPE, CEO at bwallace@hsccpa.com  for more information.
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