This is a quick post to chiropractors notifying them that the Deadline to Apply for Upcoming Provider Relief Fund Payments is Coming Soon — so if you have have billed for services provided to a Medicare or Medicaid patients and received payments from Medicare/Medicaid directly – this post is for you.
And it does not matter whether you are looking to sell your chiropractic practice, transition out, buy a practice or you’re still in the growing phase — if your chiropractic practice experienced lost revenues and/or increased operating expenses between July 1, 2020 and March 31, 2021 compared to the prior year, then you may be eligible to apply for Phase 4 funding under the Provider Relief Fund (PRF), administered by the Department of Health and Human Services (HHS).
IMPORTANT –> the application window closes October 26, 2021 – so don’t delay!
The best news is with the Provider Relief Funds is that these payments are NOT loans and therefore do not have to be paid back if properly utilized.
The basic criteria that needs to be met is that you have billed for services provided to a Medicare or Medicaid patients and received payments from Medicare/Medicaid directly — so that would be PAR (participating) Medicare providers. HHS will be reimbursing smaller chiropractic practices for their reductions in operating revenues and increased expenses at higher rates compared to larger chiropractic businesses. These payments are based on your payments received from Medicare and Medicaid patients — so this can likely apply to a huge segment of the chiropractic population. Bonus payments will also be made based on the amount of services furnished to Medicaid/CHIP and Medicare beneficiaries – so again larger offices with larger losses will be able to receive larger payments.
The application process is available through the HHS portal (click here for link) or you can contact the Provider Support Line at 866.569.3522 from 8AM-11PM ET Monday-Friday.
For FAQs, you can see the Provider Relief Funds FAQ page