VGM & ASSOCIATESHealthcare MSO

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. 


comments powered by Disqus

Subscribe to Email Updates

Stay up-to-date on the latest resources and news provided by VGM & Associates.

Sign Up for Email

From Our Experts

Understanding Enrollment Status, Assigned vs. Non-Assigned, and the ABN thumbnail Understanding Enrollment Status, Assigned vs. Non-Assigned, and the ABN A major part of business development is understanding your payer mix and which products and services should be reimbursable versus cash sale items. What could you bundle together in your offering to expand business—specifically items that can be sold for retail alongside your reimbursable items? You might not necessarily offer everything right now, but these are the areas you can look to expand into. This resource outlines how to navigate reimbursement to help grow your business. U.S. Rehab Tech Training at Heartland Addresses All Levels of Experience thumbnail U.S. Rehab Tech Training at Heartland Addresses All Levels of Experience Complex rehab providers attending VGM's 20th Heartland Conference will have the opportunity to increase their expertise in repairing and programming complex rehab wheelchairs as part of U.S. Rehab's Tech Training. VGM & Associates Releases Customer-Centric Playbook thumbnail VGM & Associates Releases Customer-Centric Playbook VGM & Associates has released the third installment of their 2021 quarterly playbook series, which contains insight and best practices for making your business customer-centric. Heartland Session Sneak Peek: Procurement, Inventory Management & Cash Flow thumbnail Heartland Session Sneak Peek: Procurement, Inventory Management & Cash Flow Get great advice and more during the Heartland Conference Panel: Procurement, Inventory Management & Cash Flow moderated by Gerry Finazzo. During this session, attendees will learn how to identify ways to improve purchasing practices, mitigate inventory liability, identify ways to increase cash flow and lower activity costs. An Inside Look with Clint, Episode 8: VGM Government thumbnail An Inside Look with Clint, Episode 8: VGM Government President of VGM & Associates, Clint Geffert, sat down with John Gallagher, vice president of VGM Government, to discuss how VGM Government helps VGM members navigate the complexities of the legislative process and the importance of grassroots advocacy in the HME industry. Member Spotlight: Shelly Hoover, President and Co-Founder, and David Hoover, CEO and Co-Owner of Vets First DME, LLC thumbnail Member Spotlight: Shelly Hoover, President and Co-Founder, and David Hoover, CEO and Co-Owner of Vets First DME, LLC Vets First DME began at the intersection of preparation and opportunity, with a dash of circumstance. Read more about the amazing Hoover family as they combined the family's knowledge and experience to start Vets First DME, LLC. CMS Announces 90-Day Extension For CRT Manual Wheelchair Accessories thumbnail CMS Announces 90-Day Extension For CRT Manual Wheelchair Accessories CMS announced a 90-day extension of the suspension of the application of Medicare Competitive Bidding Program pricing to CRT manual wheelchair accessories. The current policy will stay in place through October 1 and there will not be any payment cuts or claims processing changes. Don't Allow Medicare Advantage Plans and MCOs Take Advantage of YOU! thumbnail Don't Allow Medicare Advantage Plans and MCOs Take Advantage of YOU! The HME supplier has always had challenges in getting paid timely and accurately for the items and services they provide to their customers. This is an assumed cost of doing business but the HME supplier still does this because of the reward of taking care of their customers. But nothing has challenged the supplier as much as when a customer has a Medicare Advantage Plan or an MCO.

Give your business a leg-up on the competition.

Become a Member