COVID-19 3.5 Emergency Relief Passes The House

Published in Member Communities on April 23, 2020

Today the House overwhemlingly passed the $484 billion agreement to deliver more pandemic aid to small businesses and hospitals, in addition to federal, state and local coronavirus testing. The President is expected to sign the bill either tonight or tomorrow.

Specifics:

  • $310 billion unrestricted for PPP
  • $60 billion in PPP set aside for smaller institutions (Banks and Credit Unions)
    • $30 billion for assets less than $10 billion
    • $30 billion for assets between $10 billion and $50 billion
  • $50 billion for EIDL loans
  • $10 billion for EIDL Advance grants
  • $2.1 billion for SBA administrative expenses

Health

$75B for hospitals (same language as PHSSEF from CARES)

$25B for testing ($11B of this will be distributed to states, rest will go to CDC, BARDA, FQHC, NIH, NCI (they are doing the serology work) and others for research, development, and deployment of testing.

This is great news for DMEPOS suppliers as it means additional funding availabilities. We’ve heard from many of you that have not received a PPP funding from you bank. If you haven’t received any PPP dollars yet, it is recommended that you reach out to your credit union or bank this week to ensure you are first in line to receive these dollars. 

From Our Experts

Insight for Aging Services Professionals: The Role of Clinical Home Modifications thumbnail Insight for Aging Services Professionals: The Role of Clinical Home Modifications VGM Live at Home member Katy Dodd from LifewiseCHM in Kansas City was featured on the ComForConnections Podcast regarding aging in place professional services. Collaboration in Post-Acute Homecare: Partner Connections at VGM Heartland 2024 thumbnail Collaboration in Post-Acute Homecare: Partner Connections at VGM Heartland 2024 This year at VGM Heartland Conference, attendees can engage in a new opportunity for connecting with vendor partners on the final day of the conference. Audit Climate – Taking The Temperature thumbnail Audit Climate – Taking The Temperature As we near the midpoint of 2024, what are the main billing/reimbursement headaches being faced by providers? Collaboration in Complex Rehab Technology and Post-Acute Homecare: Partner Connections at VGM Heartland 2024 thumbnail Collaboration in Complex Rehab Technology and Post-Acute Homecare: Partner Connections at VGM Heartland 2024 This year at VGM Heartland Conference, attendees can engage in a new opportunity for connecting with vendor partners on the final day of the conference. Collaboration in Women's Health and Post-Acute Homecare: Partner Connections at Focus at Heartland 2024 thumbnail Collaboration in Women's Health and Post-Acute Homecare: Partner Connections at Focus at Heartland 2024 This year at Focus at Heartland Conference, attendees can engage in a new opportunity for connecting with vendor partners on the final day of the conference. A Note from the VP, Jim Greatorex: May 2024 thumbnail A Note from the VP, Jim Greatorex: May 2024 Jim Greatorex, VP of VGM Live at Home, shares the latest information about ongoing initiatives, reintroducing a new vendor partner, and more. Member Spotlight: Frank Wasilewski, Vice President of Sales at Access thumbnail Member Spotlight: Frank Wasilewski, Vice President of Sales at Access Frank Wasilewski, Vice President of Sales at Access, has been involved in making homes more accessible for people with mobility needs. Unlocking Innovation in Healthcare: A Spotlight on Direct Supply thumbnail Unlocking Innovation in Healthcare: A Spotlight on Direct Supply As the healthcare landscape continues to evolve, we recognize HME and DME providers play a critical role in ensuring patients receive the best care possible. In this blog post, we shine a spotlight on Direct Supply, a Milwaukee-based, employee-owned private company and trusted partner with nearly four decades of experience in the industry. Read on to discover what sets Direct Supply apart and why partnering with us is a game-changer.