The Coronavirus Aid, Relief, and Economic Security Act (“CARES”) Act was passed on March 27, 2020. While there are various ways to qualify for funding under this Act, there are three main sources of relief a healthcare facility can qualify for under CARES:

  1. Paycheck Protection Program (Sections 1102 and 1106)
  2. Public health and social services emergency fund (Division B Title VIII)
  3. Medicare Advanced Payments (Section 3719)

While there are varying opinions on the accounting for governmental funds received by healthcare entities, the most prominent methodologies are discussed in this document.

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For more information or additional questions, contact Michelle Schmidt at mschmidt@lbmc.com.