The Centers for Medicare & Medicaid Services (CMS) is lowering the relief payments allocated under both its Advance Payment Program and Accelerated Payment Program. A long-standing pair of measures to help medical institutions during a crisis, CMS greatly expanded both at the end of March in response to the coronavirus pandemic. Effective as of April 26 however, CMS announced, it is no longer accepting new applications for Advance Payments and “reevaluating all pending and new applications” for Accelerated Payments.
The COVID-19 pandemic is a huge turning point for healthcare. Practices have learned (the hard way) that conventional ways of running their businesses are inefficient and far from future-proof. It’s a call to action for adopting new and innovative ways to provide care.
On Friday, April 24, the federal government signed into law an additional $484 billion in relief funds, targeting mainly small businesses and hospitals. The new bill comes on the heels of the CARES Act from late March and is meant to further support the programs and relief efforts it established.
Facing the COVID-19 pandemic, practices across the country have to adjust the way they operate. Keeping your practice and patients safe from the coronavirus will require changes to the workflow of your office, but it is also an opportunity to take steps for the future.
The coronavirus outbreak has brought many businesses all over the United States to a standstill. School is canceled, sports events are postponed, most establishments are keeping their doors shut, and practically everyone is staying cooped up at home. What used to be busy districts have slowly become quieter.