The application is now open for both the Provider Relief Fund (PRF) Phase 4 and American Rescue Plan Act (ARPA) Rural Payments. Between the two funds, more than $25.5 billion is available for healthcare providers across the nation. The Phase 4 payments will be based on providers’ lost revenues and expenditures between July 1, 2020 and March 31, 2021. The Health Resources and Services Administration (HRSA) provides detailed explanations for eligibility, application instructions, and payment methodology. Here, we’ve selected a few of the highlights to best prepare you to apply.

The application portal will close on October 26, 2021 at 11:59 pm Eastern Time, so we encourage all providers to collect the necessary documents as soon as possible.

Healthcare providers may be eligible to receive Phase 4 distributions if they continue to provide patient care and meet one of the following requirements:

• Participate in Medicare, Medicaid, Children’s Health Insurance Program (CHIP) or other Federal health care programs
• Dental provider or behavioral health provider
• State-licensed/certified assisted living facility
• Previously received PRF payments

Separately, Rural Payment applicants must be in a non-metropolitan area or serve a rural population.

Supporting documents needed to complete the application:

• Comprehensive list of billing TINs
• Financial statements including:
  • 2019 – Q1, Q3, Q4
  • 2020 – Q3, Q4
  • 2021 – Q1
• Federal income tax returns

To instill added transparency, the HRSA is publishing the methodology to determine the payment amounts. After applications have been received and analyzed, HRSA will publish the final figures used to calculate payments.

PRF recipients are eligible to receive 75% of the funding based on their reporting changes in revenue and expenses, and 25% of the funding comprises of bonus payments based on Medicaid, Children’s Health Insurance Program (CHIP), and Medicare participation. Similarly, Rural Payments will be made to providers based on the amount and type of services they provide to non-metropolitan patients.

• How to Apply
• Application Instructions
• Frequently Asked Questions
• Stakeholder Briefing Video

We know your practice continues to see the impact of the pandemic. As your revenue and expenses change, your Aldrich Advisor is here to help you understand your relief options and manage funding applications.

If you have questions about eligibility or compiling the correct documentation, reach out to your advisor.