The Cares Act HHS Provider Relief Fund for DentistsSubmitted by Mission Financial Planning on August 13th, 2020
The Cares Act HHS Provider Relief Fund is available to all dentists and the application deadline has been extended to September 13th, 2020.
Most of our clients have filed and are starting to receive the HHS Provider Relief Funds.
If you haven’t already applied, the process has been made easier with a shorter application and fewer questions. Click here for the application. Most practices are eligible for 2% of last year's revenues. For those who are still experiencing reduced revenues and increased PPE expenses, it is a much-appreciated program.
Here’s a video I made about the program in July, please note that the deadlines I mention have been extended. (more info below)
The money’s use is restricted; the details on requirements about reporting your use of funds is promised to be out by Aug 17th.
In the meantime, here's the general outline from hhs.gov:
Provider Relief Fund payments may be used to cover lost revenue attributable to COVID-19 or health-related expenses purchased to prevent, prepare for, and respond to coronavirus, including but not limited to [not all are applicable to dental offices]:
- Workforce training
- Reporting COVID-19 test results to federal, state, or local governments
- Building or constructing temporary structures for COVID-19 patient care or non-COVID-19 patients in a separate area
- Acquiring additional resources, including facilities, supplies, or staffing to expand or preserve care delivery
- Developing and staffing emergency operation centers
For most practices we're recommending filing, with the caveat that you understand the following:
- A watch-dog task force is being created to be sure funds aren't abused, we expect the Provider Relief program to come under some level of scrutiny
- Payment can only be used to prevent, prepare for, and respond to Covid, only for health-care related expenses or lost revenues attributable to COVID.
- You cannot double-dip if you already had other money (PPP) cover COVID-related losses.
- You will be asked to submit reports "as the Secretary determines are needed to ensure compliance"
- Your practice name and the amount received will be publicly disclosed.
- Receipt of the money is a taxable event.
Give us a call if we can answer questions or help you apply.